The Spend Down Calculator will give you an approximate amount of your (and your spouse’s) assets that must be “spent-down” before you can qualify for Medicaid long term care benefits. There are many factors that impact this amount. This includes the total value and financial structure of one’s assets, home ownership, marital status, and state of residence. This tool is current for the calendar year 2024 and relevant only for persons aged 65+ that require long term care.
When answering questions about assets, include those held in trusts if either spouse’s name is on the trust.
To be eligible for Medicaid long term care, applicants (and their spouses) must have “countable assets” at or under their state’s asset limit. Any assets over the limit must be spent in a “Medicaid-compliant” fashion without violating Medicaid’s look-back period. Non-liquid assets, such as property other than one’s primary residence, must be sold and the proceeds spent down. Except for limited circumstances, money or assets cannot be given away to family members. More.