Assets...

For kids 18 and under and pregnant women, assets are NOT looked at. Only family income is looked at for these groups.

For other groups, many assets will NOT count against you.

Families can own a home, land that the home sits on, cars and many other assets and still get MaineCare coverage!

Assets that do NOT count against you:

• The family’s home and surrounding lot
  
• Basic items used in day to day living, such as furniture, tools and equipment
  
• Two cars or trucks (the second vehicle must be necessary for employment, medical treatment,
  essential daily activities or modified for operation by a person with a disability or for the transportation
  of a person with a disability)
  
• Property used to produce income such as boats, trucks, machinery
  
• Money in a savings account, CD, pension plan, IRA – up to $8,000 for a single person;
  $12,000 for a family of two or more with minor children; $10,000 for an adult couple with not
  children in the home.
  
• Real property that is up for sale
  
• Loans that must be repaid
  
• The cash value of life insurance the family has purchased
  
• Up to $10,000 in a Family Development Account (FDA) that can be spent only for education, home
  repair, a car or truck needed for work or school, small business start up, health care, or to use for an
  emergency or other family need approved by DHHS
  
• Other less common assets listed in DHHS rules
  For assets not listed above:
  
• For children (18 and under) and pregnant women, MaineCare will not count assets.
  
• For parents of children (18 and under), and for 19 and 20 year olds, there is a $2,000 asset limit.
  
• For other adult couples with no minor children at home, there is a $3,000 asset limit.