How Are Joint Accounts Considered for Medi-Cal Eligibility?

How Do Funds in a Joint Bank Account Count Towards Medi-Cal Eligibility?

Medi-Cal eligibility can be a complicated issue with many myths and confusing facts surrounding the topic. One of the biggest areas of confusion is joint bank accounts and how they impact a person’s Medi-Cal eligibility. Many people believe that only 50% of the funds in a joint bank account are considered as assets for the person applying for the program.

However, that statement is simply not true. While Medi-Cal eligibility requirements do vary from state to state, generally when an applicant owns a joint account, the state takes 100% percent of the money into consideration when determining eligibility. Even if a joint account has multiple names listed, that money will still be counted toward eligibility.

Why does the state count assets in such a way? Many times a second person is added to a joint account for administrative purposes or for the sake of convenience and never contributes any funds to the account. Adding another person allows them to write checks, discuss matters the bank, and withdraw money. The only way to get the state to value the account differently is if the owner can provide documentation that both parties contributed funds into the jointly held account.

Are You Ready To Qualify for Medi-Cal Benefits?

If you are ready to have the government pay for your long-term care by qualifying for Medi-Cal benefits, let our team of expert attorneys walk you through the process. We take pride in qualifying 99.99% of our clients while helping to protect your assets and financial future. We look forward to working with you.

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Related Questions

  • Does Medi-Cal check your bank account?
  • Is it possible to transfer assets to qualify for Medi-Cal?
  • Are Joint Accounts subject to Medicaid or Medi-Cal?
  • Who owns the money in a Joint Bank Account?
  • How much money can you have and still qualify for Medi-Cal?
  • How do I check my Medi-Cal eligibility?
  • Can you own a home and still qualify for Medi-Cal?
  • How do I avoid Medi-Cal estate recovery?
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