December 31, 2019
Margaret M. Cook
We’ve previously discussed the income and asset limits required in order to qualify for Medical Assistance. The asset limit for an individual is $3,000.00 and $6,000.00 for a couple. Thus, many individuals and couples are tasked with reducing excess assets in order to qualify for Medical Assistance.
Assets can be reduced in four ways:
Purchasing goods or services for the Medical Assistance applicant or their spouse;
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The most significant change for many of our clients will be the removal of RMDs for IRA beneficiaries.
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