Minnesota Asset Information Sheet
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FAQ
In Minnesota a person's asset limit for MA-LTC in Minnesota is $3,000.
No. An MA member's children do not have to use their own assets to reimburse the state for any MA services the member received. Counties that collect on an MA estate claim do so with priority over distributions to heirs. This means that MA should be repaid before heirs receive assets from the estate.
The total value of assets that may be owned by the applicant's well spouse has increased, too. Effective January 1, 2022, the CSRA cap is $137,400 (up from $130,380). This covers countable assets such as stocks, bonds, bank accounts, etc.
Your assets must be $2,000 or less, with a spouse allowed to keep up to $130,380. Cash, bank accounts, real estate other than a primary residence, and investments, including those in an IRA or 401(k), all count as assets.
An Irrevocable Trust can be used as part of the gift (and if you are more than 5 years away from needing Medicaid to pay for care, you could do the Irrevocable Trust without buying the Medicaid Compliant Annuity).
MinnesotaCare and some bases of eligibility for Medical Assistance (MA) do not have an asset test. This means a person's assets are not counted to decide if he or she qualifies.
Federal Poverty Level thresholds to qualify for Medicaid The Federal Poverty Level is determined by the size of a family for the lower 48 states and the District of Columbia. For example, in 2022 it is $13,590 for a single adult person, $27,750 for a family of four and $46,630 for a family of eight.
Minnesota has a 60 month (5 year) Medicaid Look-Back Period that immediately precedes one's Medicaid application date. During this period, Medicaid checks to ensure no assets were gifted or sold under fair market value.
MinnesotaCare has no asset limit.
Myth: MNsure, MinnesotaCare and Medical Assistance are the same thing. MNsure is not an insurance company or public assistance. It's Minnesota's health insurance marketplace.