Medicaid is available to provide assistance with the cost of nursing home care. Applicants must qualify both medically and financially for the program. Resource limits vary depending on marital status, number in family receiving public assistance, and the first continuous period of institutionalization.
For single individuals the recipient's total monthly income, less $50.00 for personal needs, is paid to the nursing home toward the cost of care. For those who intend to return home within 6 months, a home maintenance allowance (up to $244.66) can be requested. This amount is subtracted from income before paying the nursing home.
Income Guidelines
Maximum income guidelines for the recipient are $2,022.00 per month. Applicants whose income exceeds this amount may be able to qualify if they establish a state approved income trust account.
Recipients must be determined to be disabled 12 months or more and also need to meet other long term care disability criteria determined by the state.
Resource Guidelines
Resource/asset limit for the program is $2,000.00 for a single individual and $3000.00 for a couple (both receiving assistance). Exempt assets include a primary residence (in Colorado), one automobile, life insurance up to $1,500.00 face value per individual and irrevocable pre-need funeral plans.
Spousal Protection
There is a benefit of this program called spousal protection. This applies with married couples where one requires nursing home care (institutionalized spouse) and the other remains in the community and does not receive public assistance (community spouse).
Community Spouse Resource Guidelines
The resource limit for a community spouse is $109,560.00 (effective January 1, 2009). The recipient is entitled to an additional $2,000.00 in assets. Spousal protection can also include a monthly income allowance for the community spouse from the institutionalized spouse. This may reduce the monthly income contribution required to be paid to the nursing home.
