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Alexandria, VA Estate Planning Blog

Thursday, February 9, 2012

Medicaid Home Treatment; the home as an excluded resource/ asset

For Medicaid purposes, and for certain Medicaid applicants, the home can be an excluded resource. As an excluded resource, the home will not be counted for Medicaid eligibility purposes.

A home may be an excluded resource if it serves as the person's principal place of residence.

To be a principal place of residence, the Medicaid applicant must consider the place to be their established or principal home. Additionally, if they are absent from the place they consider to be their established or principal home, they must intend to return to that place as their principal place of residence.

 

What land is excluded when the home is an excluded resource?

The home includes the lot it sits on and any contiguous property. However the the contingent property mayn't exceed $5000 in value

(FOR A MORE DETAILED ANALYSIS ON WHAT LAND IS EXCLUDED WITH THE HOME, CLICK HERE).

The Medicaid Manual at M1130.100(B) Expresses the following with regard to determining the extent of the boundaries for the lot for which the home sits:

The home exclusion applies to the plot of land on which the home is located.

The excluded home lot size may vary according to the locality's building

requirements.

 

For localities with set minimum building lot size use the lesser of:

• the plat;

• the survey; or

• the locality's minimum size for a building lot.

For localities with no minimum building lot requirements, use the lesser of:

• the plat;

• the survey; or

• one acre.

 

If you have any questions, please give us a call. We welcome questions and want to talk with you or your advisor.

 


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