The difference in this rule across state lines often catches people off guard. If you wish to retain a house in your original state (state #1) as your primary residence, but move to a different state (state #2) and it is a 209(b) state, conflicts may arise that cause you to lose your exemption on the property in state #1. Consequently, you may find that, after moving, you are required to spend down the value of your property in state #1 in order to become eligible for Medicaid coverage in state #2.
No two states are exactly alike – so it is always important to be prepared and have a strong asset protection plan in place to guard the things that matter most to you. Talk to a professional. Call (303) 945-3242 today to get in touch with an experienced Colorado Medicaid attorney or visit our Medicaid website to learn more about Colorado Medicaid, Medicaid eligibility, and asset protection.