The Medicaid Look-Back Period THE MISTAKE THAT COULD DELAY YOUR LONG-TERM CARE COVERAGE
Timing is important. If Medicaid determines that an improper transfer occurred, it calculates a penalty period based on the value of the transferred assets. During this time, Medicaid will not pay for nursing home care even if you otherwise qualify for benefits. That often means families must pay for care out of pocket until the penalty period ends. Planning well before long-term care is needed gives you far more flexibility. Don’t leave your future to chance. Because every family’s situation is unique, professional guidance can make all the difference. At Merlino & Gonzalez, we help families understand the Medicaid look-back rules, review prior asset transfers, and develop personalized long-term care plans. Planning ahead today can help protect both your assets and your peace of mind tomorrow.
Planning for long-term care isn’t always easy, but understanding New York’s Medicaid rules today can help you avoid costly surprises tomorrow. One of the most important rules to know is the Medicaid look-back period . Many families don’t realize that financial decisions made years before applying for Medicaid can affect when benefits begin. Fortunately, with the right planning, you can protect your options and your future. What is the Medicaid look-back period? When someone applies for nursing home Medicaid in New York, the state reviews their financial history during the 60 months (five years) before the application date. This review, known as the look-back period, is designed to determine whether assets were transferred, gifted, or sold for less than fair market value.
property transfers, and changes in asset ownership. If certain transfers are identified, benefits aren’t automatically denied, but coverage may be delayed. Money transfers can trigger a penalty. Many people assume only large gifts are a concern, but that’s not the case. Common transactions that may create problems include:
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Gifting money to children or grandchildren Selling a home or other property below market value Adding someone to a deed without receiving full payment Moving money into another person’s account
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Forgiving personal loans or debts
Even transfers made with the best intentions can affect Medicaid eligibility if they occur during the look-back period.
Medicaid may examine bank account transactions, gifts to family members,
MARGARITA GRILLED SHRIMP SKEWERS MICHELE’S RECIPE CORNER
INGREDIENTS • 1 lb raw extra jumbo shrimp, peeled and deveined • 1/3 cup olive oil • 2 large garlic cloves, chopped • 1 tsp minced jalapeno
• 1 tsp onion powder • 1 tsp cumin • 1 tsp kosher salt • 1/2 tsp black pepper • 2 tbsp tequila (optional) • Thin slices of lime for skewers • Chopped cilantro • Wedges of lime to squeeze on shrimp
• 2 tbsp brown sugar • 1 tsp smoked paprika • 1 tsp chili powder • 1 tsp garlic powder
DIRECTIONS 1. Soak wood skewers in water. 2. Place shrimp in wide shallow bowl and set aside. 3. In small bowl, combine all ingredients from olive oil through black pepper. Use a food processor or blender to process. 4. Pour marinade over shrimp and stir to coat. 5. Cover and refrigerate for 2–3 hours, turning about halfway through. 6. Drizzle tequila over the shrimp, if desired, and fold to combine. 7. Thread shrimp onto skewers, with folded slice of lime in between. 8. Heat grill to medium-high. Set shrimp on oiled grates and grill 2–3 minutes per side. 9. Place shrimp on platter and sprinkle with cilantro. Serve with lime.
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