Medicaid Spenddown

A common misconception among our elderly clients is that they need to spend down all of their assets to become eligible for long-term skilled nursing Medicaid. While that can help you qualify for Medicaid, it is far from a good — or the only possible — strategy. Instead of spending down your assets wastefully, a wiser way to approach the Medicaid spenddown is to convert them. Read on to learn how.

Countable vs. Non-Countable Assets

The first thing you should know is that, while long-term skilled nursing Medicaid has an asset limit of $2,000 ($3,000 for a married couple), this l