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A person who wants to receive Medicaid service ought to get use to poverty.


The Things You Have To Surrender

What Are The Routine Spend Down Items Under Medicaid? The routine spend down items under Medicaid are typically a bank account. A person typically cannot have a bank account of over two thousand dollars in their name. A person also cannot have a checking account with a similar amount in their name. The question What Are The Routine Spend Down Items Under Medicaid? then goes to material goods. A person cannot have a car that I believe is over the sum of five five thousand dollars. So you ask What Are The Routine Spend Down Items Under Medicaid? Many people would argue that you basically have to spend yourself down to nothing in order to receive Medicaid services. You cannot have stocks or bonds in your name that surpass a certain threshold. Some would consider this threshold to be so low that it isn't even worth it to own the stock.

Fixed Income

You also have to transfer any house out of your name if it reaches past a certain threshold. You certainly cannot have any rental properties under the legal terms of the Medicaid agreement. You are also likely not allowed to get a business loan unless you make so little money off that business that it could you up to thirty years to pay off that loan, given that the terms are favorable. You are basically relegated to a fixed income level if you plan to stay on Medicaid. People on food stamps really have to cut back on what they can afford. There were several Congressional representatives who lived on food stamps for a month, it a terribly fixed income. The same is true for people who happen to be on Medicaid as well.