Important changes are coming to our New York State Medicaid Home Care rules. As you may recall from our earlier article, the most notable change will be the institution of a thirty month lookback period for home care benefits.
Though the NYS Department of Health still must issue official guidance, it appears that the new lookback period will only apply to transfers made on or after October 1, 2020. Transfer penalties will only be assessed for applications made after January 1, 2021.
Current Medicaid Home Care recipients should not be impacted by the new lookback period for any of their asset transfers made before October 1, 2020.
Now is the time for families to seriously consider Medicaid planning and asset transfers, even if they do not foresee needing any care. With everything going on around us right now, we do not know what our futures hold.
We will continue to update our firm’s website with the most current information as it becomes available. If you have questions related to the changes, please reach out to Moira Laidlaw at email@example.com.