When the state determines your financial eligibility for Medicaid some of your assets are counted, while others are excluded. During the Medicaid application process, you will have to provide documentation of what assets you have. While Medicaid’s assessment of your income is relatively straightforward, the assessment of your assets can be fairly complex, depending on how much and what kind of assets you have.

Assets

Assets that are usually counted for eligibility include:

• Checking and savings accounts
• Stocks and bonds
• Certificates of deposit
• Real property other than your primary residence
• Additional motor vehicles if you have more than one.

Assets that do not get counted for eligibility include the following:

• Your primary residence
• Personal property and household belongings
• One motor vehicle
• Life insurance with a face value under $1,500
• Up to $1,500 in funds set aside for burial
• Certain burial arrangements such as pre-need burial agreements
• Assets held in specific kinds of trusts. See “Trusts” for more information about how a trust can affect your eligibility for Medicaid.