Broken Arrow, OK asked in Elder Law for Oklahoma

Q: Does having an IRA impact Medicaid eligibility?

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1 Lawyer Answer
Reece B. Morrel Jr
Reece B. Morrel Jr
  • Elder Law Lawyer
  • Tulsa, OK
  • Licensed in Oklahoma

A: This one can get complicated very quickly. For example, is the IRA in payout status? If so, the answer is yes. Is the person married? If yes, part of the IRA may be allocated to the spouse. Also, what is the total value of the IRA account?

The thing to remember, is that Medicaid can look at income AND resources. So you may find yourself in a situation where you qualify under one test, but fail the other.

You should really contact a Medicaid Planner or Elder Law attorney for more information.

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