What assets are considered for MassHealth eligibility?
MassHealth, the joint federal and state Medicaid program operating in Massachusetts, evaluates an applicant's financial standing by looking closely at both monthly income and countable liquid or fixed assets when determining eligibility for specific coverage groups. Countable assets typically include cash on hand, checking and savings accounts, certificates of deposit, money market funds, stocks, bonds, mutual fund shares, second or investment properties, and the cash surrender value of life insurance policies exceeding specific policy face value limits. However, MassHealth regulations also exempt a significant number of vital assets from consideration to protect applicants from complete impoverishment. Non-countable or exempt assets usually include a primary residence up to specific equity value limits, one primary motor vehicle used for transportation, household furnishings, personal clothing items, and irrevocable pre-paid burial contracts. For long-term care applicants, complex look-back rules apply to asset transfers made within the previous five years to prevent intentional impoverishment designed solely to qualify for state-funded nursing home care benefits.
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