ElderAuthority.com

Medicaid 5-Year Look-Back (options), Part 3

Two previous posts covered the Medicaid Five-Year Look-Back Period as a high-level description and with the details everyone needs to know.  This post covers some of the options that may provide an alternative.
PERMITTED TRANSFERS

While most transfers are penalized with a period of Medicaid ineligibility of up to five years, certain transfers are exempt from this penalty. Even after entering a nursing home, you may transfer any asset to the following individuals without… More

Medicaid 5-Year Look-Back (details), Part 2

WHAT IS THE 5-YEAR LOOK-BACK?
In the past a senior citizen with assets would have been able to give financial gifts to his children and grandchildren and not worry about those gifts disqualifying him for Medicaid.  Over the years, the government took steps to prevent those requiring nursing home services from giving away their assets in order to qualify for services designated for the poor.  One of those steps was a “look-back” period–a kind of audit that… More

Medicaid 5-Year Look-Back (overview), Part 1

DEFICIT REDUCTION ACT OF 2005
Both the federal government and state governments have made changes to Medicaid eligibility requirements and restrictions over the years.  The Deficit Reduction Act of 2005 (DRA) significantly changed the rules governing the treatment of asset transfers and homes of nursing home residents by creating a five-year “look-back period.” Any transfers or gifts of any kind made by the Medicaid applicant during the preceding… More