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To be eligible for either HMP or TM, you must meet certain income limits, asset limits, or both. TM has many categories, or sub-programs, for eligible children, families, and adults. Each category has income limits and some have asset limits. The limits vary depending on the category.
Medicaid is available to eligible persons under age 21. There is an income test and an asset test for this program. If income is over the income limit, the person is assigned a deductible. Persons may incur medical expenses that equal or exceed the deductible and still qualify for this program.
Michigan seniors must have limited income and assets, and a medical need to qualify for Medicaid long-term care. In 2024, a single Nursing Home Medicaid applicant must meet the following criteria: 1) Income under $2,829 / month 2) Assets under $2,000 3) Require a Nursing Home Level of Care.
See if you qualify for the Healthy Michigan Plan. The Healthy Michigan Plan provides health care benefits to Michigan residents at a low cost so that more people can have health care coverage. Individuals are eligible for the Healthy Michigan Plan if they: Are age 19-64 years
You qualify for Medicaid in Michigan with a household income up to the following limits (the eligibility calculations include a built-in 5% income disregard, which are included in these limits): 217% of the federal poverty level (FPL) for children up to age 18
For Medicare Savings Programs (BEM 165) the asset limit is: • For an asset group of one: • $9430 effective January 1, 2024. • $9,090 effective January 1, 2023. • $8,400 effective January 1, 2022. • $7,970 effective January 1, 2021. • $7,860 effective January 1, 2020. • For an asset group of two:
Exempt Assets for 2023 for an applicant in Michigan include: i. $2,000 or less in cash/non-exempt assets if single. If the assets exceed the limit on the first of the month the applicant is ineligible for the entire month. ii. Personal effects and household goods. iii.
There is an income and asset limit. If you earn a substantial income from work, you may have to pay a premium (monthly payment) on your coverage. The premium amount increases the more money you make.
Income is not the only eligibility factor for Medicaid long-term care; there is also an asset limit and level of care requirement. Additionally, there are state-specific details. Click on the state name below to see that state’s complete Medicaid eligibility criteria.
Michigan Medicaid Asset Limitations for 2023. Individuals in Michigan can keep $2,000 when they apply to Medicaid for long-term care. If they are over this amount, they must spend down on care. It’s important to note that individuals are not allowed to give gifts of any amount for a period of 5 years (60 months) before applying for Medicaid.