“Am I Allowed to Have Two Cheap Cars With Medicaid?”

“Am I Allowed to Have Two Cheap Cars With Medicaid?,” ElderLawAnswers

Quote:

“Q: Am I allowed to have two cheap cars with Medicaid?

A: No. Just one car is noncountable. However, if one of them is really cheap, maybe it will fall within the countable asset limit.”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

This query and response remind me of the “Two Mercedes rule.” You can have one car of any value and qualify for Medicaid. Because it’s exempt it does not trigger a transfer of assets penalty if you give it away. So you can buy another, give it away, and so on until you consume all your assets and qualify for Medicaid.