How much money can a Medicaid patient have in savings account?

Answer Patients who qualify for Medicaid have a restriction on the amount of money they can have in savings, stocks, bonds or other liquid assets. This restriction is known as the resource allowance. As o... Read More »

Top Q&A For: How much money can a Medicaid patient have in s...

Is there a difference between the APY on a savings account& a high-yield money market account?

No, the formula for annual percentage yield (APY) is one plus the periodic interest rate. Then raise the sum to the power of the number of periods of investment. Finally, subtract one. The formula ... Read More »

Is a Money Market Checking Account Also a Savings Account?

Money market deposit accounts (MMDAs) are bank savings accounts that have some of the withdrawal capabilities of checking accounts. Some people think money market accounts are checking accounts bec... Read More »

Can you put money into an IRA yourself just like a savings account?

No, there are limits to the amount you can contribute or deposit into an IRA account. The maximum amount that an individual can put in an IRA account for the 2010 tax year is $5,000 if you are unde... Read More »

Why should everyone have a money market savings account?

A money market account (MMA) is basically a high-interest savings account offered by banks and credit unions. This is a product that everyone should consider for keeping emergency money. Money dep... Read More »