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200 St. Andrews Road
Saginaw, MI 48638
Phone: (989) 792-9641
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140 W. Tuscola St., Suite B
Frankenmuth, MI 48734
Phone: (989) 652-9923
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MEDICAID REFERENCE CHECKLIST
October / 2005MEDICAID APPROVED AMOUNTS ** Minimum Community Spouse Resource Allowance - $19,032.00
Maximum Community Spouse Resource Allowance - $95,160.00
Resource Allowance for an Individual - $2,000.00
Minimum Monthly Maintenance Needs Allowance - $1,604.00
Maximum Monthly Maintenance Needs Allowance - $2,379.00
Monthly Personal Needs Allowance - $60.00
Heat and Utility Allowance - $464.00
Divestment Penalty Divisor - $5,367.00 ASSET LIMITATIONS Non-Countable Assets: - Homestead & Contiguous Property
- One vehicle
- Term Life Insurance
- Cemetery Lots
- Pre-paid Funeral
- Certain Rental Property
- Jointly Held Property (in some cases)
- Restricted Accounts
Countable Assets - Bank Accounts
- Stocks and Mutual Funds
- IRA/401k/Pension
- Annuity (in some cases)
- Life Insurance (if face value exceeds $1,500)
- Additional Real Estate
- Principal balance of accounts receivable
Sharon A. Burgess
Andrew D. Richards Back to Medicaid Smith Bovill, A Professional Corporation | 200 St. Andrews Road
Saginaw, MI 48603
Phone: (989) 792-9641
Fax: (989) 792-1116 | 140 West Tuscola Street, Suite B
Frankenmuth, MI 48734
Phone: (989) 652-9923
Fax: (989) 652-3607 | The law offices of Smith Bovill represent clients throughout Michigan including Mid-Michigan, The Michigan Thumb, Arenac County, Bay County, Genesee County, Huron County, Isabella County, Lapeer County, Ogemaw County, Roscommon County, Saginaw County, Sanilac County, Shiawassee County and Tuscola County as well as the cities of Saginaw, Frankenmuth, Bay City, Cheboygan, Flint, Gaylord, Grayling, Midland, Mount Pleasant, and West Branch.**These amounts are subject to change at least annually by the Michigan Department of Human Services.
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