Qualifying for Medicaid With A 401K or IRA
Dedicated Buffalo medicaid lawyer discusses the process of qualifying for medicaid with a 401k or IRA. Watch this educational video to learn more.
Currently, in order to be eligible for Medicaid for nursing home care, individuals can only have $14,850 in assets. However, if an applicant has an IRA or a 401K that is in a payout status, and he or she is at least 70 1/2 years of age, the IRA itself is not considered to be an asset for eligibility purposes.
Every one of our elder law attorneys cares about seniors, their needs, and their individual situations. We understand that you’ll be sharing personal information with us and be making tough decisions. We will listen to your thoughts, concerns and will evaluate your needs, all while helping you find the best way to fulfill them.
Friedman & Ranzenhofer provide caring, experienced and knowledgeable representation to residents in WNY. Let our knowledge guide you through the process.
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