Medicare-Medicaid Pay-Down of Assets
State law and regulations impose income and asset limits on persons applying for Medicaid.
The SSI income limit is $235 per month for an individual or $291 per couple. However, an individual cannot exceed $2,901 per month in income of $2,000 in assets if applying for Institutional Medicaid.
If an institutionalized individual applies for Medicaid, a period of ineligibility for services shall be computed if:
During the 60 month period immediately preceding the baseline date, assets were transferred; or
During the 60 month period immediately preceding the baseline date, a trust was created whereby the individual or the spouse disposed of property for less than fair market value.
The period of ineligibility shall:
Begin with the month of Medicaid eligibility for services; and
Be equal to the number of months derived by dividing the total uncompensated value of the resources transferred by the transferred resource factor at the time of application.
907 Ky. Admin. Regs. 20:025
-:030
Ky. Cabinet for Health and Family Services, Medicaid Enrollment