What Is The Penalty Period With Medicaid?

Video Transcription:

That’s what people commonly refer to as the five-year look-back, but actually, it’s not exactly five years. What it is they look at the amount I transferred, let’s say to my children. They divide that by the average nursing home cost in my community and that tells you the number of months that I’m disqualified. If it cost $10,000 a month in my community and I transferred $500,000, I would be disqualified for 50 months, but the maximum is five years. Have more questions? Then contact us today to schedule a free consultation! Doane & Doane Top rated Tax & Estate Planning Attorneys