All states (except California) have a five-year lookback period on applications seeking Medicaid for nursing home care. However, the State of New York recently adopted a law imposing a lookback period for long-term home care as well. While the lookback period for home care isn’t as long, it can still negatively impact people who need Medicaid benefits sooner rather than later.
Home Care Medicaid Lookback Examines Transfers Dating Back at Least 15 Months
The implementation of the new lookback period has been rescheduled several times due to the 2020 COVID-19 pandemic. Currently, the new NY Medicaid transfer rules will begin on October 1, 2022*(has not been implemented as of 9/27/2022). After this date, any person applying for Medicaid home care benefits will be subject to at least a 15-month lookback, and could possibly have to provide records up to 2.5 years prior to the date of application.
Here’s what you need to know about the new transfer rules:
- Applicants and their spouses filing after the COVID-19 extension ends will need to provide all financial records within the lookback time frame, even if spouses do not currently need Medicaid services.
- Any asset that has been sold, given away, or transferred below a fair market value during the lookback period may result in a period of ineligibility for Medicaid benefits. The cash value of the transfers will determine the number of months Medicaid will deny payment for a home- or community-based care.
- The lookback period will eventually increase to 30 months, with an additional month added until the period for asset transfer records reaches 2.5 years (30 months).
- Applicants who file their Medicaid applications before the COVID-19 extension expires will NOT be subject to this lookback and will NOT incur transfer penalties. Early filing is key to getting the benefits you need for home care services. Schedule a free consultation today to discuss how we can assist you before and after the new law takes effect.
We highly recommend you have counsel when applying for Medicaid. The New York elder law attorneys at Landskind & Ricaforte can save you from paying out of pocket for home care services. Contact us today through our online form to learn how we can be of assistance.