Q: Can I lower my available resources, for Medicaid purposes, by half if I place my money in a joint account with my adult child?

A: It is common for people to believe that if they create a joint account with their adult child, they will only expose half of the monies kept in the bank account. Medicaid, for eligibility purposes, will consider joint bank accounts as 100% owned by the Medicaid applicant. Furthermore, if any withdrawals are made during the look back period, Medicaid will treat the withdrawal as a non-exempt transfer and impose a penalty period. This assumes, of course, that the money was originally deposited by the Medicaid applicant. If the applicant can prove that the joint owner owns part or all of the money, then that portion which the joint owner contributed will not be considered an available resource.