A person must own less than $2,000 of resources in order to obtain Medicaid assistance to pay for long-term care. Both federal and state laws prohibit an individual from gifting assets within five years of the Medicaid application in order…
Tag: five year look-back
New Jersey Changes Calculation of Penalty for Gifts
If a person provides a gift within five years of the Medicaid application, then there is presumption that the gift was provided for the purpose of establishing Medicaid eligibility. A person has the right to provide “convincing” evidence that the…
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Medicaid Does Not Allow Gifts of $15,000 Per Year
If a person provides gifts within five years of the Medicaid application, then the County Board of Social Services will presume that those gifts were provided for Medicaid planning. The individual who provides gifts within five years of the application…
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