In order to qualify for Medicaid in Massachusetts, which is also referred to as "MassHealth", you can't have more than $2,000 in assets. Many people forget about life insurance when calculating their assets, but depending on the type of life insurance and the value of the policy, it can count as an asset. Life insurance policies are usually either "term" life insurance or "whole" life insurance. If a Medicaid applicant has term life insurance, it doesn’t count as an asset an