What Are Medicaid Rules on the Remaining $2K in Assets?

The only rules for the remaining $2,000 are that:

1. the money must be spent only for the Medicaid beneficiary; and
2. it may not exceed $2,000.

However, with respect to the second rule, it may exceed $2,000 temporarily because income is not treated as an asset until the following month.

For example, suppose a Medicaid beneficiary has $1,500 in the bank and on June 3 she receives a Social Security payment of $800, bringing the bank balance up to $2,300. This is not a problem as long as the money is spent down so that by June 30 the balance is back under $2,000.

For information about Medicaid's asset rules, read this article.