Applying for the Medicaid program can be tedious, as the state government diligently verifies each applicant’s eligibility stringently. One of the methods they use is the Look-Back Period. This process identifies applicants who gave away money and other assets to qualify for the program.
Understanding this policy is necessary to maintain your or a loved one’s Medicaid qualifications and avoid future complications.
Medicaid’s Look-Back Period
Medicaid considers qualified individuals with low income and limited assets. Unfortunately, applicants sometimes apply tactics to circumvent this rule.
The Look-Back Period aims to lessen these cases by setting a time frame preceding the application date during which officials will examine asset transfers. In New York, the look-back period is five years for institutional chronic care and 30 months for community-based benefits.
During this time, officials will review an applicant’s submitted financial statements to identify violations, such as:
- Giving money away as a gift
- Settling the debts of others
- Donating money to charity
- Buying expensive gifts for others
- Selling assets below fair market value
If the applicant is guilty of violating the provision, the Medicaid agency will automatically deny the application. Officials may also provide a period of ineligibility, preventing violators from reapplying for a set time.
Actions to take to reduce the chances of violations
Violating the Medicaid Look-Back Period comes with penalties that could prevent you from getting health care coverage. To avoid this possibility, extensive planning is necessary.
Consider using the official Medicaid resources for New York citizens that are available online. Perusing these will give you insights into meeting the asset and income requirements. For additional guidance, you can also seek legal advice from an experienced attorney. They can walk you through available options that could help you plan smartly for the future.
