Many family caregivers and seniors are unaware that New York State has passed the 2020-2021 State Budget Bill triggering the Legislature to adopt a 2.5 year lookback on Medicaid applications for in-home care services (Community Medicaid). The anticipated date for this new rule is October 1, 2020.
The purpose of the lookback period is to ensure that Medicaid applicants use their resources to pay for their own care and expenses. Until now, for Medicaid funded in-homecare there was no lookback period for our New York residents. Applicants were able to gift any assets (exceeding the allowable Medicaid limits) and make the application for Community Medicaid the following month.
Under the new law (soon to take effect), the Medicaid applicant can be penalized if assets were gifted, transferred, or sold for less than fair market value within Medicaid’s 2.5 year lookback period.
Most seniors who live independently still require some necessary in-home health care services such as assistance with eating, bathing, dressing, toileting and ambulating. Due to the inevitable circumstances of aging, the new law speaks to too many and can have devastating financial consequences for applicants and their families.
If you are considering applying for in-home care services this year, we strongly recommend that you contact us about your options and preparation of your Medicaid in-home care application so that it can be filed before October 1, 2020 so as to avoid any Medicaid penalties and further delays. Let us help you make the right decision today!
Serving families in NY & NJ