Medicaid is a joint state-federal program that provides low-income, low-asset children, adults and seniors with access to limited health services. Medicaid benefits may include assistance with Medicare copays, deductibles and some services not covered by Medicare.
In Florida, seniors aged 65 and older need to meet specific financial requirements to qualify for Medicaid programs. Individual applicants can earn no more than $2,313 per month and hold no more than $2,000 in countable assets, while couples applying together can make no more than $4,626 per month and own no more than $3,000 in countable assets.
For Medicaid, countable assets include cash, bank account balances, stocks, bonds and investment real estate. Excluded assets include clothing, furniture, one vehicle and a primary residence worth less than $585,000.
Florida residents 65 or older who qualify for Medicaid may be eligible to receive additional funding for assisted living through the Florida Statewide Medicaid Managed Care, Long-Term Care Program.
The goal of the SMMC LTC is to reduce the rate of nursing home placement in Florida by providing disabled adults and seniors with the supports they need to remain in their own home or live in an assisted living facility.
Seniors cannot use SMMC LTC benefits for the room-and-board portion of assisted living costs, but these benefits can be used for personal care services a senior needs in order to reside in an assisted living environment.
To learn more about the SMMC LTC, contact the Florida Elder Helpline at (800) 963-5337 or phone the Agency for Health Care Administration at (877) 711-3662.