Medi-Cal is a government benefits planning that can help individuals with limited resources afford short-term and long-term nursing home care. There are certain income and asset requirements you must meet to be eligible for Medi-Cal. For example, you cannot have more than $2,000 in assets if you are a single individual. If you are married, that asset requirement is a little higher. There are, however, some assets, such as your primary residence or your Individual Retirement Account (IRA) which are considered “exempt”. This means Medi-Cal will not count the value of those “exempt” assets.
Even if the size of your estate exceeds the Medi-Cal asset limit, with appropriate planning, you can still qualify. It is important to start the planning process early.
Each of these programs have their own rules governing eligibility and these rules are constantly changing. It is important to speak with an attorney to see how you can qualify.