In most states, a house that is a person’s primary residence is exempt for purposes of Medicaid eligibility. But there are conditions for exemption. The net value of the house can’t exceed $500,000. (States have an option to increase that to $750,000, but only a few have done so.) And the owner needs to sign a form stating her intent to return to the house, even if that seems an unlikely prospect and she remains in a nursing home.
Read more: http://newoldage.blogs.nytimes.com/2010/11/24/ask-an-elder-law-attorney-medicaid-and-the-primary-residence/
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