California to eliminate asset tests for Medicaid,” by Rylee Wilson, Becker’s Payer Issues

“CMS has approved a proposal from California to eliminate asset tests for Medicaid eligibility. In 2021, the California State Assembly passed a law to raise the limit of financial assets people who qualify for Medicaid because of age or disability can have to enter the program. The law raised the asset limit from $2,000 for an individual to $130,000 for an individual in 2022. The law directs the state to eliminate the asset test entirely at the start of 2024. CMS approved the state’s request to eliminate the test on July 14. CMS said the amendment is the ‘first of its kind’ and will simplify the state’s Medicaid eligibility process.”

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

Good luck selling private LTC insurance in California … or even convincing anyone they should plan for long-term care.