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Medicaid: How To Plan Ahead For Long Term Care Coverage

Transfer Assets

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Medicaid for Community Based Care (not in an assisted living facility or nursing home etc)

If you are planning with the thought that you may want to use Medicaid for community based care (basically, care other than Long Term Care), you may be able to transfer your assets for less than fair value, or even for no value at all, and immediately apply for Medicaid. Transfers also do not affect short-term rehabilitation services.

You can also make a transfer for full and adequate consideration such as sale of an asset for full market value without any penalty.

Medicaid for Care in An Instiution

If your plan is to transfer assets to qualify for Medicaid for institutionalized care, such as in a nursing home, you must take into account what Medicaid refers to as "The Look-Back Period." To learn more, see: Medicaid: Eligibility: Transfer Of Assets.

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