Not all of the assets are exempt.
The text refers to a spouse receiving managed long term care (MLTC) with that abbreviation.
From the following web site (http://www.wnylc.com/health/entry/165/):
What are the Spousal Impoverishment Protections for ASSETS or RESOURCES?
The MLTC spouse may keep $14,850 in his/her own name (2016).
PLUS the Community Spouse may have up to the greater of $74,820 (2014-16) or one-half of the couple's total combined assets up to $119,220 (2014-16). This total includes the Community Spouse's own resources in his/her own name, plus any of the MLTC Spouse's own resources that exceed $14,850, plus any of their joint resources. The MLTC applicant spouse must actually transfer his/her own individual and their joint resources that exceed the individual resource limit ($14,850 in 2016) to the Community Spouse.
PLUS both spouses may have a burial fund, pre-paid funeral agreement, and an IRA or other retirement funds, provided that distributions are being taken, even if they are under age 70.5. See Resource Disregards chart.
The balance is deemed available to MLTC spouse for cost of care. Rules are in NYS DOH MRG Resources Chapter at pp. 331 -335.
Thanks for asking at just Answer. Positive feedback is appreciated. I'mCustomer