Calculate the medical spend-down

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Assignment:

Calculate the Medical Spend-Down:

Imagine that Jim has a job that doesn't provide him with insurance, and he can't afford it any other way.

Jim lives in a state that only allows people to join Medicaid if they earn less than $1,500 per month.

Jim actually earns $3,500 per month.

Jim slips and falls on the ice and breaks his leg, which requires surgery with pins and plates. His medical costs total $20,000. Yikes! Thankfully, he lives in a state with a medically needy prorgam.

How much does Jim need to pay in order to be able in order to get Medicaid to cover the rest?

Reference no: EM133293373

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