Achieve Peace of Mind with Our Medicaid Planning Services

The Medicaid "look-back" period is a timeframe, typically five years, during which Medicaid reviews your financial transactions to ensure you haven't transferred assets for less than their fair market value to qualify for benefits. Any such transfers can result in a penalty period, delaying your eligibility.

Medicaid has strict income limits that vary by state. Income includes wages, Social Security benefits, pensions, and other sources. If your income exceeds the limit, you may need to spend down the excess on medical expenses or use other planning strategies to qualify.

While gifting money to children is a common strategy, it must be done carefully due to the Medicaid "look-back" period. Any gifts made within five years of applying for Medicaid can result in a penalty period, delaying your eligibility for benefits.

A Medicaid-compliant annuity is a financial product that converts a lump sum of money into a stream of income. It must meet specific criteria to be considered exempt from Medicaid's asset calculations, such as being irrevocable, non-transferable, and providing equal payments over the annuity's term.

A Medicaid planning attorney can provide expert guidance on navigating the complex rules and regulations of Medicaid. They can help you develop a personalized plan to protect your assets, ensure eligibility, and avoid costly mistakes that could delay or jeopardize your benefits.