Can You Have Both Medicaid and Medicare?

The income requirement is $2,742, and the asset requirement is $2,000. An asset is a bank account, stocks, bonds, CDs, a Roth, an IRA, or life insurance with more than $1,500 in cash value, a land, or property other than the applicant’s homestead. Anything that can be converted to cash within 20 days is considered an asset.

Once the benefits are approved, the applicant will be assigned a Medicaid ID number, which the nursing facility will use to bill Medicaid and doctors and hospitals will use to bill for provided care. Medicaid is the final payer, meaning if the applicant has Medicare, that will be billed first, then the secondary insurance, and Medicaid will be billed last.

The applicant will cover their monthly copayment, which is their income minus the personal needs allowance. Medicaid will pick up the remaining cost each month when the applicant meets the income and eligibility requirements. The clients are certified for a year and then will need to renew their benefits.

The nursing home Medicaid benefits cover nursing and related services, specialized rehab services as needed by the resident, social services, pharmaceutical services, assistance with generic prescriptions, emergency dental services, routine services covered by the state program, dietary services, and activities for each resident’s well-being.

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