Nursing Home Medicaid: Exempt and Countable Assets

You have continued to stick with us the past few weeks as we have discussed Georgia Nursing Home Medicaid. Thank you! We know it is a bit tedious, but it is important. This week we are focusing on one of the most important and often misunderstood topics: exempt and countable assets.

If you or a loved one may need long-term care, understanding how Medicaid views your assets can make all the difference.

What Are Exempt Assets?

Exempt assets are resources that Medicaid does not count when determining eligibility. In other words, you are allowed to keep these assets and still qualify for benefits.

Home Place
Your primary residence, along with any adjoining land and buildings, is considered exempt.

Household Goods and Personal Items
This includes your everyday belongings. Furniture, decorations, appliances, clothing, and jewelry are all considered exempt. Simply put, your “stuff” does not count against you.

Burial Exclusions
Each applicant may set aside up to $10,000 for burial expenses. This can be held in a prepaid funeral contract or a designated burial account.

Automobile
One vehicle is exempt, regardless of its value or whether it is currently being used.

Retirement Funds
Certain retirement accounts, such as IRAs and 401(k)s, may be exempt if they are being paid out in regular distributions that include both income and principal for the person applying for Medicaid.

What Are Countable Assets?

Countable assets are the resources Medicaid considers when determining eligibility.

In Georgia, an individual applying for Nursing Home Medicaid must have no more than $2,000 in countable assets. If this limit is exceeded, the application may be denied, or benefits could be lost.

In general, if something has value and can be converted into cash, it is considered countable unless it falls into one of the exempt categories above.

Common examples include:

Life Insurance Policies
Permanent life insurance policies, such as whole life, may have a cash value. Life insurance policies can be complex, so it is important to consult an experienced elder law attorney.

Bank and Investment Accounts
These are some of the most common countable assets:

• Checking and savings accounts
• Stocks, bonds, and mutual funds
• Certificates of deposit
• Money market accounts
• Brokerage accounts
• Non-compliant annuities

Other Countable Assets

• Property other than your primary residence
• Additional vehicles beyond one exempt car
• Recreational vehicles, timeshares, and investment properties

Why This Matters for Your Family

Understanding the difference between exempt and countable assets is more than just a technical detail. It directly impacts your Medicaid eligibility and how much of your savings you can safeguard.

We often meet families who assume, or have been told, they must spend all their money before qualifying. That is simply not true. With proper planning, many assets can be preserved while still securing the care your loved one needs.

Trying to navigate these rules alone can cause expensive mistakes, delays in eligibility, or even benefit denial. Medicaid planning is not the time for a Do-It-Yourself project!

How We Help

At Hurley Elder Care Law, we guide families through every step of the Medicaid process. Our team works to protect what matters most while helping you secure the care your loved one deserves.

Call our office at 404-843-0121 to schedule a complimentary phone consultation with one of our intake coordinators. We are here to help you make informed decisions with confidence and peace of mind.