What is the asset test for Medi-Cal?

The purpose of this “asset test” is to limit access to Medicaid to only those who do not have access to sufficient resources to pay for their own medical care. The idea is that if people have substantial assets, they could use those to pay for the care they need.

How much assets can you have to qualify for Medi-Cal?

To find out if you qualify for one of Medi-Cal's programs, look at your countable asset levels. You may have up to $2,000 in assets as an individual or $3,000 in assets as a couple. As of July 1, 2022 the asset limit for some Medi-Cal programs will go up to $130,000 for an individual and $195,000 for a couple.

Is there an asset test for Medi-Cal?

The asset test will be fully eliminated by July 1, 2024. Although California is moving to eliminate the asset test for Medi-Cal programs, it will remain in place for Supplemental Security Income (SSI).

Does Medi-Cal check your bank account?

Because of this look back period, the agency that governs the state's Medicaid program will ask for financial statements (checking, savings, IRA, etc.) for 60-months immediately preceeding to one's application date.

What is the income limits for Medi-Cal 2022 Medi-Cal?

In 2022, the monthly income will increase to $1,564. In other words, an adult can earn up to $1,564 per month and still qualify for no cost Medi-Cal. MAGI Medi-Cal annual amounts for a single adult increased to $18,755, from $17,775 in 2021, for a single adult.

Medi-Cal FAQ's / Understanding Asset Limits and How Income is Determined

What is the maximum income to qualify for Medi-Cal 2021?

For dependents under the age of 19, a household income of 266 percent or less makes them eligible for Medi-Cal. A single adult can earn up to $17,775 in 2021 and still qualify for Medi-Cal. A single adult with one dependent can earn up to $46,338 annually and the child will still be eligible for Medi-Cal.

What is the income limit for Medi-Cal 2021 in California?

According to Covered California income guidelines and salary restrictions, if an individual makes less than $47,520 per year or if a family of four earns wages less than $97,200 per year, then they qualify for government assistance based on their income.

What income is not counted for Medi-Cal?

Income-based Medi-Cal counts most types of earned and unearned income you have. However, some income is not counted, including Supplemental Security Income (SSI) benefits and some contributions to retirement accounts.

How do I prove my income for Medi-Cal?

Does Medi-Cal check tax return?

For tax year 2014, health coverage for Medi-Cal is reported by self-attestation by checking a block on your tax return when filing your taxes.

Does having a savings account affect Medi-Cal?

One of the vexing issues for people attempting to qualify for Medi-Cal are the limits on a person's assets. And when they do have assets, such as a savings account, the Medi-Cal rules necessitate that the individual must spend down those assets in order to qualify for conditional or Non-MAGI Medi-Cal eligibility.

Can Medi-Cal take my inheritance?

The inheritance is not counted as monthly income. It is generally considered a one-time lump sum distribution. Consequently, an inheritance of money should not impact your MAGI Medi-Cal eligibility.

Is Medi-Cal based on income or assets?

Eligibility is based on their monthly income only. Yet once someone ages into Medicare or becomes eligible for Medicare due to a disability, they get their Medi-Cal through the Aged and Disabled Federal Poverty Level (A&D FPL) program.

Does owning a house affect Medi-Cal?

As I mentioned, your home is exempt when you apply and while you're on Medi-Cal. However, your house is no longer exempt after your death or if you're a married couple, after the death of both of you.

Does Covered California considered assets?

Answer: Assets do not count, only income. That would include any income that contributes to your adjusted gross income (AGI), like income from real estate or securities.

Can a bank statement be used as proof of income?

Bank Statements

Asking for an applicant's two most recent monthly bank statements is a great way to obtain supporting documents for use with pay stubs to verify a tenant's income. Statements also can be used as a secondary proof of income if an applicant is self-employed.

What income does Covered California use?

Generally, the projected annual income on your Covered California application should match your Adjusted Gross Income (line 11 of Form 1040) from your most recent Federal Tax Return. This is the recommended method if your annual income stays at a constant level from year to year.

What is countable monthly income for Medi-Cal?

To qualify for the Aged and Disabled Federal Poverty Level Medi-Cal, an individual's monthly total countable income (minus a Maintenance Needs Allowance and any health, vision, and dental insurance premiums) must be less than $1,563 ($2,106 for a couple).

How do seniors qualify for Medi-Cal?

Current law allows an eligible senior age 65 and over and some people with disabilities to enroll in free Medi-Cal with income up to $1,242 per month. Most adult recipients under 65 can enroll with income as high as $1,397.

What is the highest income to qualify for Medicaid?

Federal Poverty Level thresholds to qualify for Medicaid

The Federal Poverty Level is determined by the size of a family for the lower 48 states and the District of Columbia. For example, in 2022 it is $13,590 for a single adult person, $27,750 for a family of four and $46,630 for a family of eight.

Is Covered California the same as Medi-Cal?

Medi-Cal offers low-cost or free health coverage to eligible Californian residents with limited income. Covered California is the state's health insurance marketplace where Californians can shop for health plans and access financial assistance if they qualify for it.

Do you have to repay Medi-Cal after your income increases?

Many of these people fear they will have to repay Medi-Cal for the months they were really ineligible for the no cost health insurance. Do you have to repay Medi-Cal after your income increases and you were no longer eligible? The short answer is usually not.

Does unemployment count as income for Medi-Cal?

Yes. Traditional federal and state unemployment benefits are considered income for Covered California, Medi-Cal, and CHIP, and you should include it in the income you report while using the Shop and Compare Tool.

Can you have Medicare and Medi-Cal at the same time?

The short answer to whether some seniors may qualify for both Medicare and Medi-Cal (California's Medicaid program) is: yes.