Posts Tagged ‘discharged’

Pitfalls of the nursing home five year look back period?

A five-year look-back period retroactively for all gifts or other transfers made for less than fair market value (FMV). Grandfather made gifts of $200 to each of his five grandchildren on each of their birthdays and on one of their religious holidays in 2006, 2007, 2008, 2009 and 2010. He is unaware of the Medicaid laws. Grandfather requires nursing home care. Under the Medicaid rules, Grandfather is penalized for all gifts made within a five year period. Therefore, Grandfather is penalized for approximately one and a half months, during which time Medicaid will not pay for his care in the…

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