1. Ignoring important safe harbors created by Congress.
Certain transfers are allowable without jeopardizing Medicaid eligibility. These include: transfers to disabled children, caretaker children, certain siblings and into trust for anyone who is disabled and under age 65; a transfer to a “pay-back” trust if under age 65; and a transfer to a pooled disability trust at any age.
2. Failing to take advantage of protections for the spouse of a nursing home resident.
These protections include petitioning for an increased community spouse resource allowance, and in some instances petitioning for an increased income allowance.
3. Applying for Medicaid too early.
This can result in a longer ineligibility period in some instances.
4. Applying for Medicaid too late.
This can mean the loss of many months of eligibility.
5. Not getting expert help.
This is a complicated field that most people deal with only once in their lives. Tens of thousands of dollars are at stake. It’s penny wise and pound foolish not to consult with people who make their living guiding clients through the process.
For more information, contact Attorney Meg Goblet at 719-686-9700.