What are the Medicaid application and eligibility requirements?
On the Medicaid application, you have to disclose what you’re income is, and what you’re assets are. Therefore, it’s very important for you to gather those documents to so you know exactly what those numbers are. You must all of those on the Medicaid application when you apply.
In general, a single person is allowed to keep up to $2,000 in a bank account, and certain non-countable assets. You also have to disclose any countable assets you have, and it’s important to pre-plan on those, to transfer those to non-countable assets, if possible.