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Irwin Law
Irwin Law, Attorney
Category: Legal
Satisfied Customers: 6775
Experience:  Lawyer & Real Estate Broker, 30+ years, foreclosure, land contracts, inheritance, probate.
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I am 66 years old, I live in Missouri. Because my social security

Customer Question

I am 66 years old, I live in Missouri. Because my social security is small, I qualified for QMB and Mo Health Net. I have IRA account with small amount of money. I did not touch this account. My question is in my case IRA account qualified as assets and prevent me from getting Medicaid or not? Please send me a proof that means article of law or name of the law, which is appropriate to my situation. What is legal way to get Medicaid in my situation.
Submitted: 3 years ago.
Category: Legal
Expert:  Irwin Law replied 3 years ago.

The laws concerning IRAs application to Medicaid are not simple. They are based upon whether or not they have been converted to some that is paying out benefits, like an annuity. If not, they are considered "countable" assets in determining eligibility for Medicaid. If they are countable assets, they must be spent down to the $2000 so that you can qualify. This is a very complicated area of law. I can't send you the statute because it is too long and involved and you wouldn't understand it. Here is an article by attorneys that might help, but as I said, it is complicated. You would be better off to consult a local Elder Law attorney in your area who can analyze exactly what your situation is, knowing how much you have and what it consists of.

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