New Deadline – MARCH 31, 2021
The 2020 N.Y. State Budget Bill included changes to the Medicaid program covering home and community-based services (Home Care):
- All new applications for Medicaid community-based (home care) benefits filed after March 31, 2021, will be subject to a 30-month (two-and-half-year) lookback period when analyzing an applicant's resources and income.
- If gift transfers are made after February 28, 2021, a transfer penalty or waiting period may be applied before Medicaid covered services can be granted.
The effective date for this new rule is April 1, 2021. All Medicaid home care applications filed after March 31, 2021 will be asked to incrementally provide 30 months of financial statements for all resources. If uncompensated transfers or gifts were made to establish Medicaid eligibility, a waiting period for benefits will be applied in proportion to the amount of the gift and the timing of the gift.
These rules may also affect existing Medicaid home care beneficiaries who participate in pooled income trusts. Pooled trust recipients in making their monthly transfers to their pooled trust may need to limit the remaining pooled trust balance to Medicaid's current resource amount. ($15, - 2021) combined with their other exempt resources.
Please note that the lookback period for Medicaid nursing home benefits remains unchanged at a full 60 months (5 years).
Look for future mailings on other Medicaid topics as listed below:
The Medicaid Team at Grimaldi & Yeung LLP can help you apply for Medicaid home care services before the new March 31, 2021 application deadline. If you need to avoid the new 30 month look back and a possible Medicaid penalty period please contact as soon as possible to develop your Medicaid plan. We can also explain how this rule will impact the continued use of a pooled income trust.
Please call our office anytime for assistance in the Medicaid Planning process at (718) 238-6960 or email@example.com, and we will be happy to schedule an appointment with one of our attorneys.
Follow Grimaldi & Yeung LLP on our website www.gylawny.com and our Facebook page as we will continue to bring you important news and about elder law, Medicaid, and estate and tax law to ensure you have the latest updates which may impact you and your family, especially in these unsettled times when health care is of vital importance.