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Reply to "Spouse has cancer. Divorce?"
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[quote=Anonymous][quote=Anonymous]Ill spouse qualifies for medicaid after 50% of the couple's assets are spent for their care. No need to divorce. If 505 left for you isn't enough for you, that's being kind of awful.[/quote] Not exactly. If you are married, basically all the assets of the couple are counted (except the home) and then the well spouse is allowed to keep half of the assets [b]up to $137,000.[/b] If the couple's assets are $100,000, the well spouse can keep half that, or $50,000. If the couple's assets are $200,000 the well spouse can keep half that or $100,000. If the couple's assets are $300,000, the well spouse can not keep half that. Half that would be $150,000 which is over the $137,000 asset limit. The well spouse can only keep $137,000. If the couple's assets are $1,000,000, the community spouse can keep $137,000 of that. The rest needs to be spent on medical care, home health etc. Then the ill spouse can qualify for Medicaid. [/quote]
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