Medicaid treats most property you own and can convert to cash as a countable resource. That list includes checking and savings accounts, certificates of deposit, stocks, bonds, mutual funds, cash on hand, non-exempt real estate, extra vehicles, and many retirement accounts depending on state rules. If an item is not on your state exempt list, assume it counts toward the asset cap until a caseworker documents otherwise.
Medicaid agencies start with a simple filter. You own it, you can reach it, and federal or state law does not exempt it. That item lands on your countable assets list.
Mississippi Medicaid policy states the principle plainly: if a resource is not specifically excluded, it is countable. North Carolina groups resources into real property, personal property, and liquid assets, then adds each countable line to a running total.
The snapshot date matters. In SSI-linked states, eligibility is measured at the first moment of the first day of the month. Gloria, 81, in Cincinnati holds $2,480 in a Huntington checking account on March 1. Ohio counts the full balance even if she pays $600 in legitimate bills before March 15.
Countable resources are separate from income. Interest you earn this month is income. The balance left in the account next month is a resource. Read our Medicaid asset limits guide for the dollar caps that apply after you build your list.
Common mistake:Families often treat monthly bill payments as automatic spend-down. Medicaid measures resources on a fixed date. Pay allowed expenses before that date, or confirm your state counting rule with the county office.
Liquid resources are cash or anything a financial institution can convert within about 20 business days. Rhode Island Medicaid rules list stocks, bonds, mutual fund shares, promissory notes, mortgages, life insurance policies, and bank accounts as ordinarily liquid.
Countable bank items include checking accounts, savings accounts, money-market accounts, credit union shares, Christmas club accounts, and patient fund accounts held by a nursing home. Indiana Medicaid policy also counts virtual currency such as Bitcoin when you control the wallet.
Certificates of deposit and U.S. savings bonds count at face or market value. Prepaid debit cards tied to a benefit account count if you can spend the balance freely.
Harold, 74, in Jacksonville keeps $6,200 in a VyStar checking account and $3,400 in a CD maturing in April. Florida Institutional Care Program Medicaid counts both toward his $2,000 cap. He can pay off a $4,100 credit-card balance and fund an irrevocable prepaid funeral contract within state limits before filing.
Use the Florida Medicaid spend down calculator to see how exempt spending channels change his countable total.
Publicly traded stocks, corporate bonds, municipal bonds, treasury bills, mutual funds, and exchange-traded funds are countable at market value. Mississippi Medicaid counts mutual fund shares the same way it counts individual stock certificates.
Equity value is what matters when debt is attached. A brokerage account worth $22,000 with a $4,000 margin loan counts as $18,000 in equity in most manuals.
Dividends and capital gains are income in the month received. If you leave the payment in the account, it becomes part of next month's resource balance.
Ruth, 79, in Albany owns $11,600 in a Fidelity brokerage account and $2,900 in a municipal bond fund. New York Medicaid adds both lines to her countable total against the 2026 individual cap of $33,038. She still has room, but her adult son assumed the investments were exempt because Ruth lives in her paid-off home.
Pair this section with non-countable assets for Medicaid so you know which household items never hit the worksheet.
IRAs, 401(k)s, 403(b)s, Keogh plans, and similar retirement balances are countable in many states if you can withdraw them. Some states exempt retirement accounts when you take required minimum distributions that flow into income, but the rules split by program and marital status.
Non-compliant annuities count as assets. Medicaid-compliant annuities that meet Deficit Reduction Act rules may be treated differently, but the contract language controls.
Term life insurance has no cash value and usually does not count. Whole life and universal life policies with cash surrender value count when the face value exceeds your state burial exclusion, often $1,500 under federal SSI rules.
Frank, 76, in Columbus holds a $48,000 traditional IRA at Chase and a whole life policy with $9,200 in cash value. Ohio Medicaid counted the IRA in his 2025 review. Frank's policy cash value sits above Ohio's burial exclusion, so that line counts too.
Read are IRAs and 401(k)s Medicaid countable for state-by-state retirement treatment before you liquidate an account.
Common mistake:Cashing out a retirement account to spend down can create a tax bill and a Medicaid penalty if the transfer looks like a gift. Talk with a tax professional and confirm state policy before you withdraw.
Real property beyond your primary home is countable at equity value. Rental houses, vacant land, timeshares, and a Florida condo you visit twice a year all belong on the list unless a specific exemption applies.
One automobile used for transportation is exempt in every state that follows SSI resource rules. A second car, boat, RV, or motorcycle counts at equity value. North Carolina includes boats and farm equipment in personal property totals.
Collectibles with resale value can count. Coin collections, art, jewelry beyond wedding rings, and firearms may draw questions if statements or appraisals show material value.
Teresa, 83, in San Antonio owns her home, a 2019 Toyota Camry, and a $28,000 travel trailer stored in Bandera County. Texas STAR+PLUS waiver Medicaid exempts the home while her spouse lives there and exempts one vehicle. The trailer counts in full.
Home equity limits can flip a primary residence from exempt to partially countable when no spouse, minor child, or disabled child lives there and equity exceeds the state cap, often $752,000 or $1,130,000 in 2026.
Joint bank accounts create the hardest countable-asset disputes. Alabama Medicaid presumes the applicant owns the full balance unless you rebut with deposit records, signature cards, and account language.
If rebuttal succeeds, the agency may require you to remove the applicant's name or restrict access before approval. Indiana applies the same rule: separate the funds or count the entire balance for each owner.
Married couples are treated as owning assets together even when accounts list one name. When only one spouse applies for nursing-home Medicaid, the agency totals couple assets, then applies the Community Spouse Resource Allowance so the community spouse may keep up to $162,660 in 2026.
David and Elaine in Houston hold $94,000 in joint checking and $12,000 in a joint brokerage account. David enters a skilled nursing facility and applies for Texas Medicaid. The state counts the full $106,000 before CSRA planning, not half.
Our Texas Medicaid spend down calculator helps families model how exempt spending and CSRA rules change the applicant's remaining countable total.
Use the table below as a worksheet starter, not a final eligibility decision. Your state manual may treat retirement accounts, prepaid funerals, or trust interests differently.
Cross-check each line against your state's exempt list. The Administration for Community Living notes that checking accounts, stocks, bonds, CDs, and extra vehicles are usually counted, while a primary home, one car, and household goods are often excluded.
After you mark countable lines, compare the total to your state cap. Most states use $2,000 for one applicant. California uses $130,000 and New York uses $33,038 for comparable long-term-care programs in 2026.
We verify figures against state manuals and publish methods at our editorial policy.
| Asset type | Usually countable? | Typical valuation method |
|---|---|---|
| Checking and savings accounts | Yes | Balance on eligibility snapshot date |
| Certificates of deposit | Yes | Balance or early withdrawal value |
| Stocks, bonds, mutual funds, ETFs | Yes | Market value minus margin debt |
| Cash on hand | Yes | Amount you possess |
| Cryptocurrency wallets you control | Yes | Exchange or wallet balance |
| Traditional IRA, 401(k), 403(b) | Often yes | Account balance; state rules vary |
| Cash-value life insurance | Often yes | Cash surrender value above burial exclusion |
| Non-compliant annuities | Yes | Surrender or account value |
| Rental or vacation real estate | Yes | Equity (value minus mortgage) |
| Second vehicle, boat, RV | Yes | Equity or fair market value |
| Promissory notes you hold | Yes | Outstanding principal collectible |
| Revocable living trust assets | Yes | Assets you can redirect |
| Primary home | Often exempt | Equity cap may apply; occupancy rules matter |
| One household vehicle | Exempt | Not counted when used for transport |
| Household goods and personal effects | Exempt | Not counted regardless of replacement cost |
Countable asset rules share a federal backbone, but dollar caps and retirement treatment diverge by state. Texas, Florida, and Ohio align with the $2,000 individual SSI resource standard for nursing-home and waiver pathways in 2026.
California Medi-Cal reinstated asset limits on January 1, 2026 at $130,000 per person and $195,000 for a couple when both apply. A San Jose applicant can keep far more in countable resources than a Dallas applicant with the same portfolio.
New York raised its individual cap to $33,038 in 2026. Illinois uses a flat $17,500 limit whether one or both spouses apply, a pattern that surprises families who expect a higher community spouse allowance on non-institutional programs.
Penny, 80, in Buffalo has $29,000 in countable assets and qualifies under New York rules. Her brother in Cleveland with $29,000 fails Ohio's $2,000 test. Use the New York calculator, Ohio calculator, and California calculator to match totals to local caps.
Common mistake:Applying Florida math to a California application overstates how much a sibling can keep by more than $125,000. Match the worksheet to the state where the applicant will file, not where adult children live.
After you label each account countable or exempt, run the numbers through a state tool. The calculator hub links all 51 state pages with local asset caps and exempt categories.
Start with the Texas, Florida, Ohio, New York, and California calculators if your family spans multiple states.
Return to the asset limits guide when you need CSRA figures or home equity thresholds.
Medicaid counts cash, bank accounts, CDs, stocks, bonds, mutual funds, most retirement accounts in many states, non-exempt real estate, extra vehicles, boats, cash-value life insurance above burial exclusions, and other property you own and can convert to cash. If your state manual does not exempt the item, treat it as countable until a caseworker documents otherwise.
Most states presume the applicant owns the entire joint balance. You may rebut that presumption with deposit records, account agreements, and signature cards, but many agencies require you to remove the applicant's name or restrict access before approval. If funds stay commingled, the full balance usually counts.
A primary residence is often exempt when a spouse, minor child, or disabled child lives there, or when equity sits below your state home-equity cap. A vacant home listed for sale, a rental property, or a primary home with excess equity can count as a resource. Occupancy and intent-to-return rules vary by program.
Most states cap countable resources at $2,000 for one applicant and $3,000 for a couple on SSI-linked long-term-care pathways. California allows $130,000 per person ($195,000 for two) after reinstating limits on January 1, 2026. New York allows $33,038 for an individual. Illinois uses $17,500. Verify your program and state before filing.
Federal SSI rules exclude household goods and personal effects regardless of value, and exclude one automobile used for transportation. A second vehicle, recreational vehicles, and boats are countable at equity value in most state manuals.
No. MAGI Medicaid for adults under 65 in expansion states generally has no asset test. The countable assets list in this article applies to aged, blind, disabled, nursing-home, and HCBS waiver applicants who face a resource limit.
