From Yahoo Finance · · 50s
Ohio House Sale Triggers Medicaid Cash Count
Retired couple sold Ohio home, Medicaid counts $310k as cash when nursing home needed.
In brief
Retired couple sold Ohio home, Medicaid counts $310k as cash when nursing home needed. Florida Medicaid counts home sale proceeds as cash after three years, leaving couple with $145k in excess assets. Originally reported by Yahoo Finance.
What Happened
A retired couple sold their ohio home for $310,000.
Why Medicaid Counts Cash
Florida treats home sale proceeds as cash, not protected assets.
The $162,660 Rule
Community spouse keeps up to $162,660 in assets.
Excess Assets
The couple had $145,340 in excess countable assets.
Why It Matters
Medicaid counts cash from home sales as eligible resources.
What Happens Next
The couple must spend excess assets on nursing home care.
The Real Consequence
They lost $145,340 in assets when nursing home care became necessary.
What matters most
Florida Medicaid counts home sale proceeds as cash after three years, leaving couple with $145k in excess assets.
