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Qualifying for Ohio Medicaid

If you or a family member is nearing retirement age, you should start thinking about Medicaid eligibility. You can qualify for this type of health insurance when you reach age 65 and meet financial guidelines. 

Review the details about Ohio Medicaid eligibility and begin planning to avoid costly surprises. 

Understanding financial eligibility

Ohio Medicaid for Aged, Blind and Disabled Individuals is available for state residents ages 65 and older who earn less than the monthly Supplemental Security Insurance benefit. For 2020, SSI pays $783 for a single person and $1,175 for a couple. If you earn more than this amount each month, Medicaid planning can potentially help lower your income for eligibility purposes. 

You must also meet the asset limit, which is $2,000 per person for 2020. With Medicaid planning, you can spend down your assets to qualify. 

Defining income and assets

The state counts your income from all sources when you apply for Medicaid. This includes wages from working, pension payments, spousal support, SSI income, Social Security Disability Income, withdrawals from an IRA and investment dividends. It does not include your spouse’s income unless he or she is also applying for Medicaid. 

For the purposes of Medicaid, your assets include cash, bank accounts, investments, real estate holdings, bonds and stocks. You can declare many assets exempt, including but not limited to your primary home, burial plot, motor vehicle, furniture, decor and personal items. 

Because every situation varies, you should do a comprehensive review of your family’s health and financial situation to initiate the Medicaid planning process.