Post #7 sets forth the requirements for Medicaid eligibility in terms of the resources an individual and/or a community spouse must have in order for an applicant to have eligibility. Resources refers to funds available to pay nursing home costs.
The transfer rules are determined with respect to "assets." The word "assets" refers to both resources and income. That is, 42 U.S.C. 1396p(c) refers to a disposition of assets giving rise to a penalty. That is a transfer of both resources and income triggers the penalty rules.
Pension and social security monies are income in the first month received, but if not utilized to pay the nursing home or other debts before the first day of the first month following receipt, constitute resources.
Therefore, it is important to note the distinction between assets and resources as the word "assets" constitutes both resources and income. The eligibility rules are defined in terms of resources, while the transfer rules are defined in terms of assets.
Disclaimer: This article does not constitute legal advice and each person may have unique facts for which legal consultation may be necessary.
© April 2011, Post 142
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