Generally, the home is an exempt asset for Louisiana Long Term Care Medicaid Eligibility Purposes. This means that you can own a home and still qualify for Medicaid so long as your other "Countable Resources" total less than $2,000 in value.
There are many, many, many rules regarding the home. Here - generally - are three:
- If your home is "offered for sale," it is no longer excludable;
- If your home is out of state, it is a countable resource; and
- Estate Recovery laws permit Medicaid to recover Medicaid assistance payments from your estate. Since your exempt home will be in your estate, the estate will have to sell the home to pay the Medicaid debt.
The key to avoiding problems that result from the application of Medicaid eligibility rules is to plan ahead - plan at least five years before you need nursing home care.
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