Q.  What are the “non-countable” assets under Florida law when applying for Medicaid?

 

A.  The assets that are not taken into account when one applies for Medicaid in Florida are the following:

 

1.      Homestead property or personal residence;

2.      One automobile;

3.      Certain specially-structured contracts including certain commercial annuities, certain private annuities, self-canceling installment notes, and some promissory notes;

4.      Household furnishings;

5.      One burial savings account under $2500.00 per spouse;

6.      Some life insurance contracts;

7.      Household items and most personal effects;

8.      $92,760.00 in any type of assets for the nursing home patient’s community spouse.