Elder Law Answers
Does Medicaid Count a 529 Plan As an Available Asset?
My mother established a qualified 529 College Savings program for her two grandchildren. She has terminal brain cancer but...
Read moreDoes Medicaid Consider a Rental Apartment an Asset or Income?
- December 13th, 2017
Q
I have a second apartment that I rent out. I need Medicaid to pay for a short-term (one month) nursing home stay. Is the second apartment considered an asset or is the rent considered income?
A
Generally, Medicaid treats rental income as income. Also, the property will probably be excluded as a countable asset if it is a business property that is essential for self-support. However, you should check with your local Medicaid agency because some offices may treat rental property differently from others. The more difficult problem may be getting Medicaid to cover the nursing home for a single month. The system is cumbersome and set up for long-term placements. That’s another issue you can check on with the local Medicaid agency.
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