Medicaid is a joint federal and state program that helps with medical costs for
some people with low incomes and limited resources. Medicaid programs vary from
state to state. Some Medicaid programs offer payment for needs like nursing home
care and outpatient prescription drugs that aren't covered by Medicare.
Some people with low incomes qualify for Medicaid. For example, individuals who
receive Supplemental Security Income from the Social Security Administration are
eligible for Medicaid in every state.
In most states you can only qualify for Medicaid after exhausting your personal assets.
Additionally, the state may charge you a penalty if you give away assets to become eligible
for Medicaid. Get more detailed information from your state Medicaid office or an
Medicaid pays for long term care services in a nursing facility.
You must meet your state's Medicaid eligibility requirements of low income and very limited
assets. You must exhaust most of your own assets (known as “spending down your assets”)
before you are eligible for Medicaid, leaving little or nothing for your heirs.
If you are eligible for Medicaid, you will not have to pay for some kinds of care
out of your own pocket.
Your choice about the type and location of care is very limited. You must meet the
"level of care screen" in most states to obtain nursing facility care. You must receive
care from a Medicaid-certified provider, some nursing facilities, most assisted living
facilities, and most home health providers don’t accept Medicaid patients.