Mar
01
2018
0

Items Generally Exempted for Medi-Cal Qualification

If you apply for Medi-Cal, the following list includes items that are generally exempted for qualification.

  • Your home is exempted if it is your principal residence. When applying for Medi-Cal, you will confirm on the application that you intend to return home after your stay in a skilled nursing facility. Medi-Cal requires a “subjective intent in writing to return home” to establish the home as an exempt asset. We have our clients execute an “intent to return home” form when we prepare their asset protection estate plans.
  • IRAs, 401k’s and other “qualified accounts” are exempt. The applicant however must be taking RMD’s or some amount of principal and interest on a periodic basis.
  • Not more than $2,000 in cash in the applicant’s name, which could include savings and checking accounts.
  • One care is exempt. If a couple owns two cars, we request an exemption for the more expensive car.
  • Term life insurance is exempt, but whole life insurance cannot have more than $1500 cash value.
  • Burial plots are exempt, and prepaid irrevocable burial plans are exempt.
  • Qualified or work related annuities are generally exempt. Other annuities may be exempt according to the Medi-Cal regulations.
  • Household furnishings are exempt.

This list is not exhaustive, and this information is not to be taken as legal advice. You are encouraged to see your elder law and probate attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com, we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, probate avoidance, wills, trusts, powers of attorney and probates. We also help Baby Boomers and families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

Michael J. Young

Walnut Creek Elder Law

Elder Law, Asset Protection,

Medi-Cal and Probate Attorney

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

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