The Spend Down Calculator will tell you how much of your and / or your spouse’s assets (if married) must be “spent-down” before you can qualify for Medicaid long term care benefits. There are many factors that impact this amount such as 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 2022 and relevant only for persons aged 65+ that require long term care.
Note when answering questions about assets, include assets held in trusts if either spouse’s name is on the trust.
To be eligible for Medicaid long term care, applicants and / or their spouses must have “countable assets” less than their state’s asset limit. Any assets over the limit must be spent in a “Medicaid-compliant” fashion and without violating Medicaid’s look-back period. Non-liquid assets, such as property other than one’s primary residence, must be sold and that money must also be spent down. Except for limited exceptions, money or assets cannot be given away to family members. More.