You may have heard that the federal government is encouraging Americans to purchase Long Term Care policies. One way they have done this is to give certain Long Term Care polices attractive tax advantages
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|Medicaid Minimum Assets & Income Per State|
The table below gives the minimum assets and income each state allows nursing home residents and their spouses to keep for 2012. The federal government sets new minimum and maximum amounts each year, but states can set their own minimum requirements at any level between the federal limits.
* These are "income cap" states. If your income is higher than $2,094 a month, you cannot qualify for Medicaid even after spending down all assets, unless you set up a Miller trust.
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