Your stimulus payment and Medicaid
As the $1,200.00 stimulus payments are distributed, many people receiving Medicaid coverage in nursing homes and other settings are finding their bank account creeping over the $2,000.00 they are normally allowed to have. Fortunately, this is not a problem. Stimulus payments will be exempt from resource calculations for a period of one year. This means Medicaid recipients will be allowed to have their normal $2,000.00 AND the $1,200.00 for the next twelve months. Remember: if you are over the $2,000.00 mark after the one-year period is over, you will be disrupted from your Medicaid coverage.
Do you have Medicaid questions? Feel free to contact us to get the answers.