Important Update about New York’s New 30-month Community Medicaid “Look Back”
Update: The effective date for the "look back" continues to be delayed, but the implementation may be near. If you feel you are likely to need Community Medicaid services soon, the time to take action is now.
The reason the extension is required, is that the Federal Public Health Emergency (“FPHE”) established by the Federal government has been extended numerous times. Protections enacted under the Families First Coronavirus Response Act, prohibit states from increasing the restrictions on their Medicaid programs until the quarter that follows the end of the FPHE. That means New York State will not be able to begin the implementation of the “look back,” and of the possible resulting transfer penalties, for now. Please contact the firm to find the current status of this change.
This change extends the opportunity for New Yorkers to apply for Community Medicaid services without being subject to the “look back.”
When the look back is implemented, disclosure of transfers of assets going back to October 1, 2020, will be required. Applications filed on or after the effective date will be subject to the look back, and to a penalty period, if the applicant transferred assets on or after October 1, 2020.
If you are worried about long-term care costs, now is the time to start planning. You may think you’re not eligible for Medicaid, but there are steps most New Yorkers can take to achieve eligibility, while also protecting their assets. These steps can allow them to keep their money working for them and still qualify for Medicaid benefits, affording them access to high quality health care and long-term care.
Call us or email us today to make an appointment for a consultation. There’s no time to waste – applying for Medicaid takes time no matter how simple you think your case might be, and the deadline will be here before you know it.
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