Ohio Medicaid & CARES Act

The CARES Act enacted in response to the coronavirus crisis has a broad range of benefits and special provisions. I will only cover here the effect on Medicaid recipients continuing eligibility for Medicaid. The general rule in Ohio is that a Medicaid recipient cannot have any more than $2000 of resources. Thus, an unexpected receipt of money that puts you over that limit could potentially result in termination of Medicaid. The CARES Act provides for a one time economic impact payment of $1200 for most individuals. For more detailed information see https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments

Fortunately, this will not cause termination of Medicaid. The $1200 payment is excluded as a countable resource for the 12 month period beginning with the month following receipt. You should keep this deposit in a separate account so that it is not commingled with other funds and continuing expenses paid out of the account. It is best to open a separate savings account for this deposit.