On April 3, 2020, Governor Andrew Cuomo signed the approved 2020/2021 budget for New York State, which includes changes to New York’s Medicaid Eligibility Rules, making it more difficult for New Yorkers to qualify for long-term care Medicaid benefits.
The most significant change is a new 30-month (a 2.5 year) look-back period for community Medicaid (at-home care). Under the current rules, you may transfer assets before applying for Community Medicaid, without penalty. Now, starting October 1, 2020, any transfers that occur on or after this date (with some limited exceptions), will be subject to this new look back period. Additionally, applying for home care Medicaid will become much more difficult as well in October of this year. Medicaid will also further require more documents for the application process starting as of January 1, 2021.
We are to help. Now is the time to start (and finish) your “pre-planning.” If you can get your planning done before October 1, 2020, you can potentially avoid this new look back period for home care. Time is running out!
We have been assisting clients in navigating the Medicaid process for both in-home and nursing home care for over 20 years and are uniquely positioned to offer expert advice in dealing with the complex eligibility process, getting you the services you need quickly and efficiently, while minimizing the out-of-pocket expense to you. For more information, and to learn how these changes may impact you, your planning, and your financial situation, please contact our offices at (800) 295-1917.