Medicaid provides coverage for eligible adults who need long-term care in a nursing home or similar facility. When a parent or loved one requires this level of medical supervision, the family may be unsure how to qualify for this type of insurance in Texas.
Families can review these Texas Medicaid planning considerations to prepare for the health needs of aging members.
To qualify for long-term care through Medicaid in 2021, a single Texas resident must have income below $2,382 per month. For a married couple in which both spouses need nursing home care, the income limit increases to $4,764 per month.
For the purposes of Medicaid eligibility, income includes stock dividends, withdrawals from an individual retirement account, Social Security benefits, pension payments, spousal support and wages from a job.
The Social Security Administration also reviews the value of the applicant’s assets. To receive Medicaid, the person must have no more than $2,000 in assets or $3,000 for a married couple applying together for long-term care coverage. When the applicant has a spouse who does not need nursing care, the spouse’s assets must fall under the limit of $130,380.
Not all assets count toward the Medicaid limit. The SSA will review secondary real estate, checking accounts, savings accounts, investments, bonds, stocks and cash. Exempt assets include a primary home with up to $603,000 in equity, furniture, a vehicle, burial trusts and personal belongings.
Planning ahead for the eventuality of nursing home care can help families prepare for the often-challenging process of applying for Medicaid.