Is There a Medi-Cal Asset Maximum?

Medicaid is a government health insurance program that is potentially available to people who have very limited financial resources. It is jointly administered by the federal government along with each respective state government, and in California, the program is called Medi-Cal. There is an asset limit of $2000 for an individual applicant, but some of your belongings are not considered to be countable. Your home is not a countable asset, and you can retain ownership of one vehicle that is used for transportation. Term life insurance is life insurance that you cannot convert to cash. Term life insurance policies are not countable, but there is a $1500 limit on non-term insurance policies combines. Such policies do have cash value that is countable. A wedding ring,engagement ring, and any heirloom jewelry that you may have in your possession are not countable assets for Medi-Cal purposes. Household belongings and personal effects are not countable, and burial plots are excluded. Th
http://www.norcalplanners.com/blog/elder-law/medical-asset-maximum/

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