How Much Money Can I Have And Still Qualify For Medicaid?
The state of Texas requires that a Medicaid applicant have no more than $2,000.00 in countable resources. The key point here is whether or not your resource is countable. The Medicaid program allows you to exclude for application purposes many things, including the value of your homestead (up to $500,000), one automobile of unlimited value, your home furnishings, burial plots, up to $1,500.00 for burial expenses and other enumerated items. If, after accounting for your exempt resources, you still have more than $2,000 in countable assets, you will not be able to qualify for Medicaid benefits until those funds are spent for your care or you undergo some type of Medicaid planning with your attorney.