I want to talk to you today about a Medicaid qualification issue.
Most people are familiar with what they call the “five-year rule” or the “sixty-month look back.”
The issue is whether you are disqualified from Medicaid if you’ve given away too much money during the five-year look back.
And people think, well if I have to wait five years to qualify for Medicaid, then there’s no point to Medicaid planning.
Medicaid planning involves dealing with this 60-month look back, but it’s not a total disqualification. Just because you may be entering a nursing home after two or three years does not make Medicaid planning useless. In fact, we might be able to achieve your total goals with only waiting two to three years to enter into long-term or assisted care.
So, it is good to know about the five-year look back, but don’t let that be a barrier to asking a lawyer good questions and seeing if there is a good solution for you.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, specific tax, legal or accounting advice. We can only give specific advice upon consulting directly with you and reviewing your exact situation.
