Knowing Illinois Medicaid Vehicle Rules is important when planning for Medicaid.. In this Elder Law Minute, Wes Coulson explains how these Illinois Medicaid Vehicle Rules impact vehicle ownership and what exemptions may apply.
Video Transcript:
Hello, I’m Wes Coulson from Dent Coulson Elder Law, and welcome to your Elder Law Minute. We’re happy to share these with you because we believe they can help guide you through the elder care and estate planning process. We hope you find this information helpful!
Today, we’ll discuss Illinois Medicaid Vehicle Rules and how they apply to motor vehicles.
For nursing home applicants (not their community spouse), they can keep a vehicle worth up to $4,500. However, there are a few exceptions. If the vehicle is used or equipped for medical transportation, or if the person lives in a remote area and needs the vehicle to access essential services, these exceptions may apply. But keep in mind, $4,500 doesn’t buy much of a vehicle these days, so it’s not a common option.
For married couples, the community spouse can keep a vehicle of any reasonable value. So, a car like a Mercedes or Lexus is probably fine. However, a luxury sports car like a Maserati might not be acceptable, especially considering the high maintenance costs.
It’s also important to note that Medicaid considers motor vehicles to include cars and trucks. But, other items like boats or four-wheelers don’t count as motor vehicles. Instead, they are classified as personal property, which may or may not be exempt.
Thanks for watching!
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Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (618) 632-7000 (IL) or (314) 567-9292 (MO), or Contact Us and we will get in touch as soon as possible.
