Many individuals can be approved for Florida ICP (Institutionalized Care Program ) which is the nursing home Medicaid that will cover the monthly cost of a nursing home. A month of private pay at a nursing home can cost anywhere from $8000 to $12,000. Most individuals can not even come close to affording this. With being approved for this benefit many individuals can stay long term at a nursing home only having to pay their Social Security and any retirement income.If there is a spouse in the community, the community spouse may be eligible to keep all of the nursing home spouse’s income so they may continue to pay for living and housing expenses. This means that the nursing home spouse may be eligible to reside in the nursing home under ICP Florida Medicaid with no monthly amount due to the nursing home.

Medicaid FAQs

  • Medicaid will not take your Homestead
  • Florida is a very Medicaid friendly state. There are ways to protect assets without a spend down.
  • It is very easy to approve a married individual without spending down your life savings
  • Some retirement accounts can be considered an excluded asset
  • Some transfers made within the five-year look back period can be reversed and corrected for eligibility
  • There is no five year look back penalty for spouse to spouse transfers

Things Not To Do Before Having a Consultation With Elder Benefits

  • Do not transfer any property prior to applying for Medicaid
  • Do not liquidate accounts or transfer money to any individuals including family prior to applying for Medicaid
  • Do not hide assets. A full disclosure is important and required by Florida Medicaid
  • Even though a gift is allowed for federal tax exemptions. Gifting is not allowed under Florida Medicaid rules. There is a five-year look back period for Medicaid eligibility
  • There is no five-year look back period for spouse to spouse transfers

Elder Benefits Can Help

  • We can assist with income and assets above the thresholds to become eligible for Medicaid
  • We will assist with an individual Medicaid plan with all the steps needed to comply with Medicaid rules and regulations.

Current Nursing Home Medicaid Eligibility Guidelines:

Individual Applicants

Maximum countable assets $2000
Monthly personal needs allowance $130
Maximum monthly income threshold $2250
Individuals that earn more than the income threshold may still be able to qualify.

Married Applicants

Community spouse resource allowance $123,600-Married couples that exceed this asset allowance may still qualify for this program. If the married couple are both residing in a nursing home the asset limit is $3000.

Elder Benefits knows all the current rules and regulations for ICP Medicaid. Let us help you prepare a plan for eligibility to help cover nursing home costs.