Important Numbers for Kentucky Medicaid (2023)
Understanding the asset limits and allowances for Kentucky Medicaid eligibility is essential for individuals and families seeking or currently receiving Medicaid benefits. By familiarizing yourself with these thresholds, you can make informed decisions regarding your financial planning and eligibility for Medicaid assistance. Knowing these numbers will enable you to assess your financial situation accurately and secure the necessary coverage for your circumstances.
The chart below outlines the criteria that individuals and spouses need to meet in order to qualify for long-term care covered by Medicaid in the state of Kentucky. The amounts listed are the minimum and maximum amount of assets and resources that individuals and/or their spouses are able to own or retain in order to meet the requirements.
When it comes to qualifying for long-term care, without the guidance of an Elder Law Attorney, you could be required to deplete your remaining resources to meet the eligibility criteria. Reach out to Kentucky ElderLaw, PLLC to learn how our expertise can protect the other half of your resources and assets while ensuring you or your loved ones eligibility for long-term care.
Review important numbers to know for your Medicaid eligibility in 2023 below:
| Individual Asset Limit | $2,000.00 |
| Asset Limit for a Couple if Both Spouses Need Medicaid | $4,000.00 |
| Asset Limit for a Couple if One Spouse is Healthy | Half of the couple’s countable resources subject to Community Spouse Resource Allowance limits plus $2,000.00 individual asset limit |
| Minimum Community Spouse Resource Allowance | $29,724.00 |
| Maximum Community Spouse Resource Allowance | $148,620.00 |
| Minimum Monthly Maintenance Needs Allowance | $2,465.00 |
| Maximum Monthly Maintenance Needs Allowance | $3,715.50 |
| Shelter Standard | $739.50 |
| Standard Utility Allowance | $347.00 |
| Divestment Penalty Divisor | $270.16 Per Day |
Having a solid grasp of Kentucky’s Medicaid asset limits and allowances enables you, as someone involved with Medicaid recipient(s) or as a recipient yourself, to navigate the complexities of the system and make the most of available resources. This knowledge empowers you and your loved ones to make well-informed choices regarding your financial resources and benefits.
