What Is The Income Limit For Medicaid In AZ?
What is the income limit for Medicaid in AZ? Before I tell you the number, make sure you know what you’re looking at. Medicare vs. Medicaid.
Medicaid and the specific benefit that is relevant for most of my clients is the old age nursing home benefits. It can pay for memory care, assisted living, nursing home care, long-term rehab, skilled nursing, and in-home caregivers that can go to your home. Lots of potential benefits there if you’re over 65 and you need that help, but there’s always a catch.
The first catch is that there is an income limit. This 2023, the limit is $2,742. What does that mean? If you have an income of $2,743, you don’t qualify. They’ll say, “Oh, you must have enough to pay this on your own.” It’s that strict. Arizona is just strict. If you’re over, you’re done.
But then, you’re talking to a lawyer, and you can find a way around this. The way around it is to use something called an income trust or a miller trust. They actually might tell you you need to get an income trust, then come back and reapply.
With an income trust, your income goes into this new trust and then is used to pay for your expenses. And then extract money on top of the limit, it will accumulate in that trust. While Medicaid pays for the nursing home, the skilled nursing facility, memory care, whatever it is. They’re paying for the rest of it with your income. You are combining forces to pay for that expense.
What happened with that income trust? It accumulates. You get all the benefits from Medicaid, and you have this lower trust that accumulates wherever your access income is. Don’t let just that accumulate. Your kids don’t get it when you die. Your spouse doesn’t get it when you die. Medicaid gets it when you die.
You can use it for yourself, for expenses that are appropriate and qualified while you’re alive. You can use it for all those qualified expenses to make sure they can use it and don’t just go back to the Medicaid program.
That’s how you deal with income over $2,742 a month. If you need help, let us know.
Summary
The income limit for Medicaid in Arizona is $2742. If you’re above that limit, you can still do something to qualify for it, like an income trust. It might sound complicated, but with the help of the right team, you can find a way around this. Keystone Law Firm can help you figure out the solution for your situation so you can qualify for Medicaid.
What is the income limit for Medicaid in AZ? Before I tell you the number, make sure you know what you’re looking at. Medicare vs. Medicaid.
Medicaid and the specific benefit that is relevant for most of my clients is the old age nursing home benefits. It can pay for memory care, assisted living, nursing home care, long-term rehab, skilled nursing, and in-home caregivers that can go to your home. Lots of potential benefits there if you’re over 65 and you need that help, but there’s always a catch.
The first catch is that there is an income limit. This 2023, the limit is $2,742. What does that mean? If you have an income of $2,743, you don’t qualify. They’ll say, “Oh, you must have enough to pay this on your own.” It’s that strict. Arizona is just strict. If you’re over, you’re done.
But then, you’re talking to a lawyer, and you can find a way around this. The way around it is to use something called an income trust or a miller trust. They actually might tell you you need to get an income trust, then come back and reapply.
With an income trust, your income goes into this new trust and then is used to pay for your expenses. And then extract money on top of the limit, it will accumulate in that trust. While Medicaid pays for the nursing home, the skilled nursing facility, memory care, whatever it is. They’re paying for the rest of it with your income. You are combining forces to pay for that expense.
What happened with that income trust? It accumulates. You get all the benefits from Medicaid, and you have this lower trust that accumulates wherever your access income is. Don’t let just that accumulate. Your kids don’t get it when you die. Your spouse doesn’t get it when you die. Medicaid gets it when you die.
You can use it for yourself, for expenses that are appropriate and qualified while you’re alive. You can use it for all those qualified expenses to make sure they can use it and don’t just go back to the Medicaid program.
That’s how you deal with income over $2,742 a month. If you need help, let us know.
Summary
The income limit for Medicaid in Arizona is $2742. If you’re above that limit, you can still do something to qualify for it, like an income trust. It might sound complicated, but with the help of the right team, you can find a way around this. Keystone Law Firm can help you figure out the solution for your situation so you can qualify for Medicaid.
