By Jay Greene—
With the 2026 Medi-Cal asset limits now in effect, February is the perfect time for Bay Area homeowners and couples to review their financial picture. This month’s checklist helps you understand which assets affect eligibility and ensures your long-term care planning stays on track.
Whether you are part of a married couple, domestic partnership, or chosen family arrangement, clarity about Medi-Cal’s 2026 asset rules is essential for protecting your home, savings, and care options.
Understanding Exempt vs. Countable Assets in 2026
Under the current Medi-Cal framework, individuals may hold $130,000 in countable assets, while married couples may keep $195,000, plus $65,000 per additional household member.
Exempt assets include your primary residence (if it meets Medi-Cal guidelines), one vehicle, certain retirement plans, personal belongings, and prepaid burial arrangements. Countable assets include excess cash, secondary properties, and investments such as stocks or non-retirement brokerage accounts.
Because Bay Area home values often exceed $1 million, accurately identifying exempt assets is crucial for determining eligibility and structuring future care plans.
The February 2026 Medi-Cal Asset Review Checklist
1. Gather your financial records.
Collect at least 30 months of bank, brokerage, and retirement account statements. This helps identify any gifts or transfers that could trigger penalties later. Although transfer penalties apply only to gifts made on or after January 1, 2026, reviewing activity since mid‑2023 allows your attorney to address potential red flags early.
2. List all assets and determine their market value.
Include real property, investments, vehicles, business interests, and retirement funds. Accuracy now prevents delays later during Medi-Cal or long-term care planning.
3. Separate exempt from countable assets.
Cross-check each item with Medi-Cal’s exemption list. For instance, your main residence may be exempt if you or a spouse live there. Identify non-exempt holdings such as second homes, savings, or luxury items that may push you over Medi-Cal’s limits.
4. Review transfers, gifts, or loans.
Note any funds given to friends or relatives and document dates, amounts, and purposes. This recordkeeping protects you from transfer penalties and supports transparency—especially important for same-sex couples or chosen families whose shared finances may have informal arrangements.
5. Optimize your asset mix.
If you exceed the allowable limits, consider using a legitimate spenddown strategy. This may include paying off debt, prepaying funeral costs, or investing in home accessibility upgrades. These actions convert countable assets into exempt ones while improving your quality of life.
6. Document your household structure.
LGBTQ+ households or non‑married partners should prepare proof of shared expenses, co‑ownership, or caregiving arrangements. Keep copies of utility bills, joint accounts, or notarized declarations that verify your financial connection. Clear documentation avoids scrutiny or delays during a Medi-Cal review.
7. Consult an elder law attorney.
Even a brief consultation provides clarity on exemptions and future planning tools like irrevocable or living trusts. Professional advice ensures compliance while preserving flexibility for long‑term care or eligibility appeals.
Why the February Review Matters
February sits at a strategic point between the new year’s financial reset and the March Medi-Cal application period. A proactive review now helps you address gaps, confirm documentation, and prepare for potential policy updates later this year.
For LGBTQ+ families, in particular, early review also supports stronger evidence of household relationships and ensures fair treatment during asset verification.
Taking these February steps will help secure your eligibility and peace of mind as Medi-Cal’s 2026 rules take effect. Homeowners, couples, and chosen families alike can use this checklist to stay compliant, protect their estates, and plan for quality care in the years ahead.
Your assets and eligibility deserve professional attention. Schedule your February Medi-Cal asset review now to ensure everything aligns with 2026 requirements—and to protect what matters most: your home, your care, and your future.
Contact Greene Law Firm, P.C. today.
Call 415-905-0215 or email:
info@greenelawfirm.com—free initial assessment.
Statements in Compliance With California Rules of Professional Conduct. The materials in this article are for educational purposes only and are not legal advice. Consult an estate planning attorney for personalized guidance. Attorney Jay Patrick Greene, Esq., CPA, founded Greene Law Firm, P.C., which is licensed in California, Alabama, and Florida. He has over 15 years of experience in wills, trusts, probate, elder law, and asset protection. For more information, visit: https://www.assetprotectionbayarea.com/
Trust Essentials
Published on February 26, 2026
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