Medicaid is a government program that provides health insurance coverage for low-income families, children, pregnant women, and elderly adults. It also provides long-term care (LTC) benefits for those who meet its strict income and asset requirements. Each state sets its own rules for the program but must follow federal guidelines. The Illinois Department of Healthcare and Family Services determines the state’s Medicaid eligibility rules. In order to qualify for a long-term care Medicaid plan in Illinois, you must meet certain income and asset limits. The state sets these and can vary from year to year. However, there are some assets that do not count towards the limit, such as funeral trusts and Medicaid-approved annuities.
To ensure you are within the Medicaid eligibility threshold, it is important to keep track of your monthly spending and submit receipts. If you are over the income limit, a spenddown program allows you to pay for your medical expenses and then get reimbursed by Medicaid. You should speak with a qualified Medicaid planner for more information.
Illinois Medicaid Asset Limit
Depending on your circumstances, you may be able to qualify for Medicaid to help pay for long-term care. The income and asset limits vary by state, but you can find out more about them by visiting the Illinois Department of Healthcare and Family Services website. The asset limit for a single applicant is $17,500. Countable assets include bank accounts, retirement accounts, certificates of deposit, and cash. However, funeral trusts and non-countable assets like annuities do not count. There is also a Look-Back Period that applies to Nursing Home Medicaid and Home and Community Based Service Waivers, so you should be cautious about giving away any assets if you think you might need those benefits in the future.
Medicaid Illinois Monthly Income Standards
Monthly Income Guideline Chart
| FAMILY SIZE | FAMILYCARE ASSIST |
| 1 | Up to $1,436 |
| 2 | Up to $1,945 |
| 3 | Up to $2,453 |
| 4 | Up to $2,961 |
| 5 | Up to $3,470 |
| 6 | Up to $3,978 |
| 7 | Up to $4,486 |
| 8 | Up to $4,994 |
| For each additional person add | $508 |
Cost Sharing
| SERVICES | FAMILYCARE ASSIST |
| Monthly premiums | $0 |
| Medical visits | $3.90 per visit |
| Prescriptions | $2 for generics $3.90 for brand drug |
| Emergency room use in non-emergencies | $3.90 |
| Inpatient hospitalization | Up to $3.90 per day |
| Maximum family cost per year | N/A |
How Long Does it Take to Get Approved for Medicaid Illinois?
For low-income individuals and families, Medicaid offers access to health care services. The program covers a wide range of healthcare needs, including doctors’ visits and prescription drugs. However, you should remember that some small co-pays are involved. The amount you will pay depends on your family size and the type of Medicaid program. For example, your family income cannot be more than 185 percent of the Federal Poverty Line (FPL) for the Parent Assist program. To qualify for Medicaid, you must meet the following requirements. First, you must be a resident of Illinois and have a social security number. You should also have sufficient assets to provide for your own basic needs.
The state uses a “look-back” period for Nursing Home Medicaid and Home and Community Based Service Waiver applicants to make sure that the applicant is not giving away assets. However, AABD Medicaid does not have this requirement. If you are concerned about your eligibility, you should consult with a Medicaid planner. The adviser will help you determine the right option for your situation.