How Long Do I Need My Income/Assets Reduced To Be Eligible For Medicaid-Paid Nursing Home Services In The Buffalo, NY Area?
Medicaid eligibility is complex, but when a person applies for Medicaid for nursing home services in Buffalo, the Department of Social Services will review your financial transactions, and your spouse’s, going back a full five years.
When transfers have been made into trusts or distributed as gifts during that look back period, applicants will face a penalty period until the 60 month (five year) window expires.
This does not mean you cannot access Medicaid insurance, but you may face the dilemma of spending down your income and assets until you are otherwise eligible for Medicaid.
Given the cost of nursing home care, that may not take long.
Medicaid planning is designed to protect you, not penalize you.
Before you begin the Medicaid application process, consult experienced Medicaid planning attorneys who can help you protect your wealth and your legacy.
Call Friedman & Ranzenhofer today at 716-542-5444 for a free consultation with an experienced Buffalo Medicaid planning attorney.