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, currently to some time in 2025, but the threat still exists. If you feel you are likely to need Community Medicaid services, the time to take action is now.
Originally, the extension was required because implementation of the new regulation was affected by the Federal Public Health Emergency. The Health Emergency has been declared to be over, but implementation continues to be delayed. The current plan is for the look back to begin some time in 2025, but there is no certainty. Please contact the firm to find the current status of this change.
Currently, New Yorkers can to apply for Community Medicaid services without being subject to the “look back.”
When/if 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 if so, it's likely you are mistaken. 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.