Missouri Legislature Expands Asset Limits For Medicaid Eligible Individuals

medicaid-logo-2For the first time in nearly 50 years, the Missouri Legislature has passed a bill that will increase the asset limits Medicaid eligible individuals. The old law, passed in 1967, required Medicaid patients to spend down savings to less than $1,000 before they could receive nursing home care and other Medicaid services. In practice, this rule often prevented Medicaid patients from having sufficient funds to cover non-medical expenses that frequently occur. Examples of such expenses include veterinary care for companion animals, small gifts for family and friends, clothing, snacks not provided through ordinary nutrition programs and other unexpected situations.

HB 1565 will increase the asset limit by $1,000 per year beginning in fiscal year 2018 and will continue to increase to a maximum of $5,000 by 2022. In addition to helping those individuals already utilizing the Medicaid program, it is expected that additional individuals will be able to qualify for the program, although exact projections are difficult to determine. The bill was sponsored by Representative Kevin Engler of Farmington.

Missouri’s Governor Jay Nixon has until mid-July to sign the bill passed by the legislature.

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