Another very common inquiry regarding Medicaid in the State of Connecticut
is "how much do I get to keep?"
The answer is that an unmarried person who applies for Medicaid long-term
care services can only have $1,600 in countable (i.e. non-exempt) resources
in Connecticut. Certain exemptions apply which can result in the applicant
being able to keep a larger portion of their assets than $1,600, but this
is the starting point.
Some exemptions include: certain pre-paid funeral and burial expenses,
term life insurance, a vehicle, and personal effects that cannot be sold
for value. A more comprehensive list may be provided in a subsequent article.
One of the biggest concerns that people have is how do I protect my assets
above the $1,600 if I need long-term care services? There are several
options that may be available depending on your circumstances. If you
have questions about Medicaid rules in Connecticut, or if you would like
to discuss asset protection in Connecticut with a CT elder law attorney,
feel free to contact our office at (203) 651-5521, or learn more about
the law firm by