Five-Year Lookback

Five Year LookbackThe Medicaid application will require you to list all uncompensated transfers over the past five years, including gifts or transfers for less than fair market value. Depending on the total value of all uncompensated transfers over that period, Medicaid will impose a penalty period and an amount of time before an individual can receive Medicaid benefits.

It is best to plan ahead. An elder law attorney can assist you with creating a plan to avoid any penalty period before eligibility or the need to make any uncompensated transfers when long-term care is necessary.