As Medicaid is designed to assist low-income residents, an individual’s finances are the primary determining factor of eligibility. Applicants must meet both income and asset limits. The exact limits can differ depending on your circumstances and the program you’re applying for.
To be eligible for the ALI, single Alaskans must have an income below $2,742 per month and assets of less than $2,000. For two-person households when both people are applying, the income limit is $5,484 and the asset limit is $3,000.
When only one spouse of a married couple is applying, the financial criteria are the same as for single applicants. However, the non-applicant spouse may be entitled to a Minimum Monthly Maintenance Needs Allowance. This allows part of the applicant’s income to be transferred to ensure their spouse can pay for expenses. The non-applicant can also have up to $148,620 of assets.
Although Medicaid counts all income when calculating eligibility, certain assets are exempt. This includes personal belongings, an automobile and a burial plot. A person’s home is exempt if they intend to return to it or if their spouse still resides there.