Does the 'gifting' provision of up to $13,000 per person, per year penalize an elderly person from qualifying for Medicaid benefits? For example, if my mother 'gifted' me $13,000 would she be able to qualify for Medicaid benefits in the state of New York right away, or would there be a waiting period?
1 Answer from Attorneys
The gifting provisions penalize everyone equally. There is a five year lookback period from when someone gifts an asset to when they can become eligible for Medicaid in a nursing home. If your mother was looking towards community Medicaid, she can apply the month after she has gifted the assets, but should she need a nursing home, the five year lookback period would still apply. However, if she is in a nursing home, this should not stop you from applying as the period of ineligibility is counted from when you apply.
You should speak to an elder law attorney about planning for Medicaid. There are a number of complex rules that fall into play that cannot be answered in this sort of forum.
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