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How To Qualify For Medicaid (Transfer Of Income And/Or Assets)

Transfers Of Assets That Do Not Result In A Transfer Penalty

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Transfers of assets for less than full market value that do not result in a transfer penalty include:

  • Any assets transferred more than 60 months before applying for Medicaid.
  • Transfer of a home to any of the following people:
    • A spouse.
    • A child who is under age 21 or blind or totally and permanently disabled.
    • A brother or sister ("sibling") who has an equity interest in the home and has lived in the home for the past twelve months.
    • A child who was living in the home for at least twenty-four months and whose care postponed confinement in an institution.
  • Assets which were transferred:
    • To or from the individual's spouse or to someone else for the sole benefit of the individual's spouse.
    • To a trust established solely for the benefit of the individual's child.
  • Those assets where there is a satisfactory showing made to the State that one of the following occurred:
    • The individual intended to dispose of the assets either at fair market value, or for other valuable consideration.
    • The assets were transferred exclusively for a purpose other than to qualify for Medicaid.
    • All assets transferred for less than fair market value have been returned to the individual.
    • That the denial of eligibility would work an undue hardship.

NOTE: It is generally permitted to transfer money for such purposes as paying your rent in advance (say for one year) or prepaying medical expenses.

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