Will Medicaid’s 5 Year Look Back Period Be Extended To 7 Or 10 Years?

Описание: Many in America's middle class these days worry that they will lose their life savings if they enter a nursing home. Some people ask me if I have heard that Medicaid is changing the five year look back period to seven years or longer?

Medicaid penalizes people who transfer assets out of their name prior to entering a nursing home. Years ago, one was penalized from being eligible if they transferred assets out of their name within two years of entering a nursing home and applying for Long Term Care Medicaid. Then, it was 2.5 years. Then, it was three years. Then, on February 8, 2006, Congress extended the look back period to five years.

The problem with the government (and hence, the taxpayers) paying for nursing home expenses is that people are living longer, needing more long term care services, and that care is expensive. Long term care is so expensive that many insurance companies have stopped insuring it.

If and when Congress changes the rules making it more difficult to qualify for Medicaid, it's likely, just like last time in 2006, you'll get no warning.

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Paul Rabalais
Estate Planning Attorney