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Are there ways for me to protect some of my assets and still be eligible for Medicaid benefits?

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Are there ways for me to protect some of my assets and still be eligible for Medicaid benefits?

Question: Are there ways for me to protect some of my assets and still be eligible for Medicaid benefits?

Answer: There may be ways for you to protect your assets and still be eligible for Medicaid benefits. There are several exceptions from Medicaid that allow you to keep assets and qualify for Medicaid. For example, you may be able to purchase your burial plot for not only yourself but your immediate family, and that is an exempt asset for purposes of Medicaid purposes. You may also qualify to prepay your funeral expenses and that also is a prepaid expense that is not counted for Medicaid purposes. You really need to talk to an elder law attorney that is experienced in Medicaid to take advantage of several other exemptions that are available for Medicaid purposes that allow you to qualify for Medicaid even though you have other assets in your name.


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