No, an equity loan is not counted as income. If a Medicaid recipient takes out a home equity loan and holds the funds, it could affect their benefits eligibility. However, if it's simply used as an equity line to pay for home repairs directly, there should be no problem.
Long-Term Medicaid and Other Issues that Affect Aging Parents
Medicaid eligibility for long-term care needs can be complex, and other questions may come up over time. Learn more about elder law attorneys and how they help seniors and their families navigate the issues related to aging, including long-term care services, dementia, and preparing for the end of life.
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Harry S. Margolis practices elder law, estate, and special needs planning in Boston and Wellesley, Massachusetts. He is the founder of ElderLawAnswers.com and answers consumer questions about estate planning issues here and at AskHarry.info.