Do the accounts that I own jointly with someone else count toward my Medicaid eligibility?
Under Medicaid eligibility rules regarding jointly-owned Certificates of Deposit and bank accounts, the Department of Social Services assumes that all of the funds in the account belong to the Medicaid applicant. Investment accounts and other accounts titled as joint tenants are treated as each person owning an equal share of the total assets in the account.
More Medicaid FAQs
- As the Community Spouse, will I be allowed to retain any of my husband’s income?
- As the Community Spouse, will I be allowed to retain any of my husband's income?
- Can I pay my children for services they provide to me, i.e. laundry, taking me to doctors appointments, etc.?
- Can I transfer all of my assets to my children?
- Do I have to cash in my life insurance policies?
- Do the accounts that I own jointly with someone else count toward my Medicaid eligibility?
- Is there a way to protect my Medicaid benefits in the event I receive an inheritance?
- Is there any way to save the family home?
- What are my options to help pay for assisted living facility or nursing home care in the future?
- What are non-countable and countable resources?
- What is Medicaid Estate recovery?
- When can I file a Medicaid Application?