Holden Law Office provides professional services with a personal touch to individuals and families that are facing issues associated with long-term care and asset management.
To be eligible for TennCare, Tennessee’s Medicaid program, you must meet certain income and asset limits. These limits vary on whether you are single or married. If you are married, there are different limits depending on if one or both spouses are applying.
For purposes of determining TennCare financial eligibility, income and assets are reviewed. Income includes all money that is available to you on a monthly basis before taxes are deducted. This includes wages from a job, Social Security benefits, pension payments, child support payments, and interest earned on investments. Tennessee is an income cap state and in certain instances, an individual must enter into a Qualified Income Trust (“QIT”) to financially qualify.
Assets are any resources you own and could use to pay for long-term care services. These include savings accounts, checking accounts, stocks and bonds, land and property (other than your primary residence), and vehicles (including RVs and boats). For married couples applying for TennCare coverage, the rules are a little different than for an individual.
Qualifying for TennCare should be straightforward, but sometimes it is not. At the Holden Law Office, we help our clients understand how the eligibility process works and plan for their future. Contact us today for a consultation.