Changes are on the way for New York's Community Medicaid program, and we’re here to stress the importance of planning ahead if you are even considering applying. Community Medicaid covers care and medical services that will allow you or a loved one to continue living at home, as opposed to a nursing home; in other words, in the community.
To qualify for community Medicaid, you must:
- be disabled or at least 65, and
- be financially eligible to receive benefits*.
*financial eligibility is determined by your assets—this includes all of your assets, including Social Security, pension, alimony, SSDI, gifts, and payments from annuities.
What Is the Major Change Regarding Community Medicaid?
As of October 1st, there will be a 2 ½ year look back period. That means that Medicaid will "look back" at all assets transferred in the 30 months prior to your application to see if you gifted assets in order to meet the eligibility requirements. Certain transfers will not count against you, however there is still some uncertainty about how the new rules will be implemented.
The bottom line is this: If you are considering applying for Community Medicaid, it's important to plan ahead and prepare now. The Law Offices of Steven M. Adler, PLLC can help you do just that. Whether you apply 5 months or 5 years from now, Attorney Adler and our team can tailor a plan to meet your specific needs.
The time to act is now! Contact us at the Law Offices of Steven M> Adler, PLLC by dialing (516) 740-1184 or submitting an online contact form here.