Minimum Asset & Income Allowance (Medicaid)
Minimum asset and income allowances are the total amount of countable assets and income an individual (and their spouse) may have to meet Medicaid long-term care benefits requirements.
Need More? Read The Full Definition
There is a cap on the amount of income and assets an individual can have to qualify for Medicaid. This cap is called the minimum income or asset allowance. It's the total amount of income or assets an individual may have to still qualify for Medicaid benefits.
Minimum allowances are different for income and assets. These allowances also often depend on state, marital status, and the type of Medicaid you're applying for.
The minimum asset allowance is also known as a Community Spouse Resource Allowance (CSRA). This is the amount of countable assets a spouse may hold without disqualifying an individual from Medicaid.
Medicaid considers all assets held by spouses joint, regardless of whose name they're in or prenuptial agreements. The total amount of countable assets must be less than the minimum asset allowance plus $2,000.
Medicaid is a complex topic, subject to many specific rules and changes. You can visit this website from the American Council on Aging to help determine your Medicaid eligibility.