Millionaires on Medicaid Long-Term Care

From the Wall Street Journal:

In many states, an elderly person may own a home valued at $802,000, plus home furnishings, jewelry and an automobile of uncapped value while receiving long-term Medicaid support. In addition, they are allowed to have various life-insurance policies, retirement accounts with unlimited assets, $115,920 in assets for a spouse, income from Social Security, and a defined-benefit pension plan. By most standards, such a household would be considered wealthy.

via Mark Warshawsky: Millionaires on Medicaid – WSJ.com.

via the National Center for Policy Analysis

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