Posts Tagged ‘look back period’

What is the Medicaid Penalty Period?

The Deficit Reduction Act (DRA), signed by then President George Bush significantly changed the rules regarding transfers, for non-services, or gifts of assets (Gifts). Any Gifts made prior to enactment of the DRA on February 8, 2006, Maryland Medicaid officials review all documentation, bank statements, mutual funds, CD’s etc. for any Gifts made within the 36 months of the Medicaid application (or 60 months if the Gift was made to an irrevocable trust). However, for Gifts made after the enactment of the DRA the so-called "look back" period for all Gifts is 60 months. The “look back” period determines what…

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small business owners are finding their retirment plans delayed, if not abandoned

Transfers/gifts, to children or other family members, of the business, could, years later, result in extended periods without any long-term care coverage of any kind.

Aid and Attendance – Questions and Answers, Contd.

VA’s – Aid and Attendance – Questions and Answers