In Medicaid, what is a countable asset?
To qualify for Medicaid, for long-term illness coverage, you need to meet three criteria. There's the asset criteria, there's the income criteria, and you have to be sick enough, which is the clinical eligibility criteria. The asset criteria can be broken down into countable assets and non-countable assets. In Florida, for a single person, the accountable asset is only two thousand dollars, in very rare instances it may be five thousand dollars. With a community spouse, a spouse who's not applying for Medicaid, the current 2016 countable asset criteria must be less than one hundred and nineteen thousand, approximately. If you do not meet those countable asset criteria, then you would have to do some other sort of planning, a spend down of sorts, so that you could qualify for Medicaid.