✉news BusinessPersonal Finance first seen 3 h ago, last 34 min ago, peak #10
Mortgage-Free Home Appraised $8,000 Over Medicaid Limit, Delaying Nursing Home Coverage
Original: His Mortgage-Free House Appraised at $760,000, Just $8,000 Over Medicaid’s Line. Nursing Home Coverage Waited Until He Borrowed Against It
A homeowner with a fully paid-off house appraised at $760,000 found himself just $8,000 above Medicaid's asset limit, leaving him ineligible for nursing home coverage until he borrowed against his property to reduce his countable assets. The case highlights how property-rich, cash-poor seniors can be caught out by Medicaid eligibility rules, sparking debate over whether asset thresholds fairly reflect retirees' real financial situations.
Why now: It illustrates a frustrating loophole where a paid-off home counted as an asset blocks Medicaid nursing home coverage until seniors borrow against it.
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Evidence
- His Mortgage-Free House Appraised at $760,000, Just $8,000 Over Medicaid’s Line. Nursing Home Coverage Waited Until He Borrowed Against It · 24/7 Wall St.
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