A new federal Medicaid rule will place a nationwide cap of $1 million cap on home equity for older adults who seek long-term care coverage, a change advocates say could increasingly affect middle-class homeowners in expensive housing markets.

The provision, included in the Budget Reconciliation Act of 2025 — otherwise known as President Donald Trump’s “One Big Beautiful Bill” — takes effect Jan. 1, 2028.

Under the new law, Medicaid will not cover long-term services and supports, including nursing home care and home-based care, for applicants whose home equity exceeds $1 million. Exceptions exist for properties zoned for agricultural use, details ⇒

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