When you are planning for Medicaid coverage in a nursing home, it’s important to take any IRAs you own into account.
Medicaid applicants can keep only a small amount of resources (usually $2,400) in order to be eligible for benefits. Certain resources may be exempt from this rule. Whether your IRA is exempt often depends on whether it is in “payout status.”
Continue Reading Your IRA Can Affect Your Medicaid Eligibility