The 2020 NYS Budget includes a major change coming to Community Medicaid. Currently, there is no “look back” to qualify for Community-based Medicaid (ie; Home Care) under New York State Medicaid. This means that you can essentially transfer your assets and qualify for Medicaid the following month. This is going to change! The changes are slated to take effect in October 2020 although details on this are still pending. This change will create a 30 month (2.5 years) look back for all Community Medicaid applications. At this time, it anticipated that all applications filed prior to October will be “grandfathered in” based on the old rules.
In the coming months, I anticipate new strategies will emerge to help people continue to protect some of their assets. However, this is going to have a huge impact on the ability to protect your assets for in-home services. My best advice to families anticipating long term care needs for aging loved ones is to consider moving towards a filing sooner rather than later.
As a Licensed Clinical social worker and owner of Medicaid Solutions, I have worked for years to help families and their aging loved ones meet their ongoing and changing care needs. My primary goal is to listen to the families and make those plans based on their desired outcomes. This entails a lot of education as to resources and strategies to best utilize those resources. If you are interested in learning more and exploring these options, please contact Medicaid Solutions.
Colin Sandler is a Licensed Clinical Social Worker and Certified Care Manager providing advice for aging to seniors and their families for over 20 years. Colin Sandler, LCSW, CCM, 2127 Crompond Road, Cortlandt Manor, NY 10567, Colin@Medicaidsolutions.com, 914-924-2566 More Info on the contributor