An Act to update Medicaid resource limits for seniors

This bill updates the financial rules for seniors in Massachusetts who qualify for Medicaid assistance. It primarily affects elderly residents by adjusting the income and asset limits they can have while still receiving government healthcare coverage. Under the new provisions, eligible seniors must have a monthly income at or below 138% of the federal poverty level, which will be adjusted each year. The law also changes how assets are counted, allowing individuals to keep up to $10,000 and couples up to $20,000 in resources without losing benefits. Additionally, the cash value of life insurance policies owned by the applicant or their spouse will no longer count against these resource limits.