ALAN JOHN CLARK, PCHIGHLY EXPERIENCED PERSONAL INJURY & CIVIL TRIAL LAWYER
Elder Law / Medicaid Planning
Medicaid is a joint state and federal program that covers long-term health care needs for the elderly and disabled. Medicaid is a government entitlement program and as such, an individual must qualify both medically and financially for benefits. In order to qualify financially for Medicaid benefits, an individual may transfer assets in order to reduce his or her accounts to the level permitted by Medicaid. Many people have the misconception that the must wait five (5) years before they are eligible for Medicaid benefits. This is simply not the case. Medicaid has the right to know your financial history for the past five years, which is known as the “look back” period. But a senior may be eligible immediately for Medicaid benefits or may have to wait for a specific period of time – anywhere from one month to five years – depending on the family situation and the amount of assets transferred. There are different rules for transferring assets based upon family composition and the type of care required. Spouses have special rules that allow for exempt transfers of assets. There are also more lenient rules when applying for Medicaid home care benefits as opposed to nursing home benefits. Special rules govern the protection of the family home as well. Your situation must be fully explored by Alan John Clark, Attorney at law.