✉news BusinessPersonal Finance first seen 16 h ago, last 2 min ago, peak #10
Homeowner Caught Above Medicaid Asset Limit by $8,000
Original: His Mortgage-Free House Appraised at $760,000, Just $8,000 Over Medicaid’s Line. Nursing Home Coverage Waited Until He Borrowed Against It
A homeowner with a fully paid-off house appraised at $760,000 found himself just $8,000 over Medicaid's asset limit, leaving him ineligible for nursing home coverage. He reportedly had to borrow against the property to qualify for assistance. The case is drawing attention to how strict asset tests can force elderly homeowners into debt before receiving long-term care benefits.
Why now: The stark illustration of how Medicaid asset limits penalize middle-class homeowners resonates amid ongoing debates about long-term care costs
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Evidence
- His Mortgage-Free House Appraised at $760,000, Just $8,000 Over Medicaid’s Line. Nursing Home Coverage Waited Until He Borrowed Against It · 24/7 Wall St.
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