This form is Schedule C. The form may be used to list information concerning exempt property. The form contains the following categories: description of the property; value of the claimed exemption; and current market value of the property. This form is data enabled to comply with CM/ECF electronic filing standards. This form is for post 2005 act cases.
Exempt Asset For Medicaid Eligibility Purposes
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How to fill out Property Claimed As Exempt - Schedule C - Form 6C - Post 2005?
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For example, a person's primary home is exempt from their total assets as long as they live in the home or intend to return to the home if he/she is in a nursing home, and the home equity interest is below $955,000. In short, owning a home typically will not disqualify you from Medicaid.
Definitions. Parents of Dependent Children: Eligibility levels for parents are presented as a percentage of the 2023 FPL for a family of three, which is $24,860. Other Adults: Eligibility limits for other adults are presented as a percentage of the 2023 FPL for an individual, which is $14,580.
Some resources do not count toward the $2,000 monthly resource limit. These include household goods and personal effects, burial funds or prepaid contract up to $5,000; burial space items (casket, vault, plot, marker, opening and closing of grave); one car if used by the household member.
For example, couples can keep their primary residence, one vehicle, and the value of regular household goods and furnishings without those values counting toward their Medicaid resources. In some cases, medical equipment, jewelry, and other items may also be considered exempt.