New California Law Allows Retirees to Keep Assets and Qualify for Medi-Cal
Los Angeles, California – A new California law set to take effect on January 1, 2024 could have significant implications for retired individuals. Under this law, assets such as bank accounts, cash, and second vehicles will no longer be considered when determining eligibility for Medi-Cal, the state’s Medicaid program. This means that even those with significant assets, including a million dollars in the bank, could still qualify for Medi-Cal. For retired individuals on Medicare, qualifying for Medi-Cal can be like having long-term care insurance without the expensive premiums or the need for a physical exam. … Read more