Indiana Medicaid may be able to cover your nursing home care, assisted living care, or in-home care. But your assets will play an essential role in whether Medicaid will cover these services. When you apply for Medicaid in Indiana, you must disclose your assets. If your assets exceed the state’s asset limits, you may have trouble qualifying for Medicaid.

What Are Assets?

Assets (called resources in Indiana Medicaid) include cash, savings, investments, and property. Assets are different from income (money that you receive. Assets are things you own.

How Does Medicaid Determine Asset Limits For Long-Term Care In Indiana In 2022?

Long-term care Medicaid mainly concerns coverage in nursing homes and through home and community-based services. If you are married but just you apply for nursing home Medicaid, then your asset limit is $2,000, and your spouse’s asset limit is $137,400. If you and your spouse apply for nursing home Medicaid, the total asset limit for you and your spouse is $3,000. If you are single and apply for nursing home Medicaid, your asset limit is $2,000.

Do All Assets Count Toward The Asset Limit For Long Term Care Medicaid In Indiana?

Not all of your assets will count toward Medicaid’s asset total. If you want to apply for long-term care Medicaid in Indiana, many assets likely won’t count toward your asset limit. These are exempt assets. In Indiana, exempt assets could include your car, personal possessions like furniture, and certain types of trusts. Your house may be exempt if its equity (the money that represents the ownership value of your home, not the amount due on a mortgage) does not exceed Medicaid’s limit of $636,000.

What Assets Count Toward The Asset Limit For Long Term Care Medicaid In Indiana?

When you apply for long-term care Medicaid in Indiana, your cash, investments, savings, and checking accounts will likely count toward your total assets. Also, if you own property that is not your home—like a vacation home—it may count as an asset for long-term care Medicaid.

What If Your Assets Are Above The Long-Term Care Medicaid Asset Limits In Indiana?

You may still be able to qualify for Medicaid in Indiana if your assets are over Medicaid’s asset limits. Some of your assets could be converted to income or restructured, depending on your situation. Some of your assets could be given away. Some strategies could enable you to get approved, but those strategies should be discussed with a Medicaid planning attorney.

Indiana Long-Term Care Medicaid Lawyer

If you think you may be eligible for Medicaid in Indiana, you should consult an Indiana Medicaid planning attorney to help you determine how to proceed. An experienced Medicaid planning attorney at Hawkins Elder Law can help you review your assets and navigate the application process. To learn more, reach out to Hawkins Elder Law at (812) 268-8777 or contact us online.

About The Authors

Jeff R. Hawkins and Jennifer J. Hawkins co-author this blog with Thomas E. Hynes, a lawyer admitted to practice in Pennsylvania, New Jersey and Florida who has a background in estate planning and elder law. Jeff and Jennifer are Trust & Estate Specialty Board Certified Indiana Trust & Estate Lawyers. They are also active members of the Indiana State Bar Association and the Indiana Chapter of the National Academy of Elder Law Attorneys (NAELA). Jeff is also a member of the Illinois NAELA Chapter.

Both Hawkins are admitted to practice law in Indiana, and Jeff Hawkins is admitted to practice law in Illinois.

Jeff is a Fellow of the American College of Trust and Estate Counsel and the Indiana Bar Foundation. He is also a member of the Illinois State Bar Association and he served as the 2014-15 President of the Indiana State Bar Association.

More Information

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