The look-back period has been creating a lot of confusing with regards to Medicaid. One major difference between Medicare and Medicaid is that Medicaid is a means-based program. The government does not want people applying to Medicaid to transfer their money right away so there is a five-year look-back period. “The state Medicaid agency then determines whether the Medicaid applicant transferred any assets for less than fair market value during this period.” There are certain exceptions to this transfer rule that this article explains. “If the state Medicaid agency determines that a Medicaid applicant made a transfer for less than fair market value, it will impose a penalty period.” This is a period of time for which a person will not be eligible for Medicaid.
See How Does the Medicaid Look-Back Period Work?, Elder Law Answers, March 23, 2016.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
