How do my assets affect my eligibility for benefits?

How do my assets affect my eligibility for benefits?

Your assets can significantly impact your eligibility for various benefits. Generally, programs like Medicaid and food assistance have asset limits.

What types of assets are considered?

Commonly considered assets include bank accounts, real estate, stocks, and retirement accounts. Some assets, like your primary home, may be exempt.

Are there any exceptions to the asset limits?

Yes, some programs allow for certain exemptions, such as a vehicle for transportation or a small amount of savings for emergencies.

How can I find out the specific asset limits for my state?

You can check your state's benefits website or contact a local benefits office for detailed information on asset limits.