True or False: Medicaid eligibility is based on income and assets.

Medicaid eligibility is indeed based on income and assets, affirming that the statement is true. Medicaid is a program that assists individuals with limited income and resources in accessing necessary healthcare services. Each state has its own specific criteria regarding the income thresholds and asset limits that applicants must meet to qualify for Medicaid.

Income eligibility is generally assessed through various tests, such as the Modified Adjusted Gross Income (MAGI) for children, pregnant women, and some low-income adults. Meanwhile, asset limits vary by state and type of Medicaid program, impacting applicants' eligibility based on their financial situation.

In some cases, certain assets may be excluded from the eligibility determination, such as a primary residence or personal effects, which is why it's crucial to understand how these factors work within individual state guidelines. This differentiation is what supports the idea that eligibility is multifaceted, primarily revolving around financial considerations.