Thursday, September 09, 2010
   
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MA - VA A and A Comparison Chart

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MEDICAID BENEFITS

VA A&A BENEFITS
State Specific / could differ across state lines Federal / Same in all States
Domiciliary Requirements:
- Must be a US citizen, a qualified non-citizen, or otherwise residing lawfully in the US
- Must be a resident of Minnesota		 Military Requirements:
- Veteran:
  • 90 days consecutive service
  • 1 day during war time period
  • Other than dishonorable discharge
  • Needs assistance with ADLs
- Widow/Widower:
  • Valid marriage to veteran - At least 1 year prior to Vet’s death
  • Continuous cohabitation - Except medical purposes
Asset Requirements:
- Must meet rules for impoverishment
  • $3,000 for individual applicant
  • $6,000 for married couple applicants
  • $109,560 maximum for Community Spouse
 Asset Requirements:
- $80,000 countable resources
  • Whether married or single
- Age Analysis
  • Don’t rely strictly on $80,000 limit
  • Sufficient means test
Exempt Resources:
- House if net equity is less than $500,000
  • OR if community spouse resides in the house
- One vehicle
- Personal property
- Irrevocable pre-paid burial plans and plots		 Exempt Resources:
- Houses
- Cars
- Personal Property
- Assets which do not have value
- Assets that cannot become liquid
Countable Resources:
- Liquid assets include: checking, savings, CDs, bonds, investments, annuities, IRAs and insurance policies with cash surrender value.		 Countable Resources:
- Liquid assets to include: checking, savings, CDs, bonds, investments, annuities, IRAs, raw land and rental property, etc.
***Splitting assets not allowed
***5 year look back period applies to gifting
***Estate recovery rules apply		 ***Splitting of assets is okay to reduce net worth
***Gifts do not incur a look back period
***No estate recovery

Income Requirements:
- $2,739/month maximum, $1,823/month minimum allowed for Community Spouse
- $89/month personal needs allowance for recipient

Income Requirements:
- Maximum annual pension rate (MAPR)
- Gross income minus health care expenses = IVAP