Medicaid is a health insurance program for people with a low income and very few assets. Your income is compared to the Federal Poverty Level. Each state determines who is eligible and how long someone can be on Medicaid.
There are federal guidelines on “mandatory benefits,” as well as “optional benefits” under the Medicaid program.
If you qualify, Medicaid will help pay for:
- the cost of Medicare premiums
- home and community based services such as Adult Day Care or Home Care
- or long term residential care such as Assisted Living Facilities or Nursing Homes.
Qualifying for Medicaid
A case manager from your local Area Agency on Aging, State Unit on Aging or other government agencies can assist you in completing a Medicaid application. To find help click here.
In general, most states require that you are able to provide the following documents to the case manager when you complete your Medicaid application:
- photo id
- Social Security card
- Birth Certificate or proof of naturalization/ citizenship status
- copy of most recent Social Security award letter
- statements from all income sources, pensions, annuities
- 6 months of official bank issued account statements
- Medicare card & all other insurance cards with proof of paid premiums
- any life insurance policies
- any pre-paid funeral contracts
- registration and insurance information for any vehicles inyour name
- receipts for any major purchases made with cash withdrawal from the bank
- all documents &/or receipts for any property or money sold, transferred, deeded or given away in the last 5 years
It is strongly recommended that you review the following government websites for more information:
Why Should I Care?
Medicaid programs look back 5 years to see where you money went.
Medicaid has the ability to identify assets such as property that you own in another state.
It is important to have a Financial Plan before you need assistance.