As you age, it’s essential to consider how you plan to pay for long-term care services like nursing home care or home health care. In New York, Medicaid offers financial assistance to residents seeking long-term care, but only if applicants meet certain eligibility requirements. Medicaid planning can help you meet the criteria for public benefits, but it takes careful estate planning to qualify and avoid penalties that prevent you from affording the care you need when you need it. For help with Medicaid planning in Greenburgh, contact the experienced elder law and estate planning attorneys at Amoruso & Amoruso LLP today.
Who Is Eligible for New York Medicaid, and What Is Medicaid Planning?
In New York, a Medicaid applicant must be a New York resident, U.S. citizen, permanent resident, or legal alien who needs long-term healthcare and qualifies for either Home Care or Nursing Home Medicaid under New York’s Medicaid rules. In addition, applicants must fit into one of the following categories:
- Be age 65 years or older
- Be disabled or have a household family member with a disability
- Pregnant
- Responsible for a child 18 years old or younger
Medicaid planning uses strategies, such as trusts and permissible asset transfers, to help individuals qualify for Nursing Home Medicaid or Community Medicaid (Home Health Care). An experienced attorney can advise on the best tools to use during the estate planning process.
Medicaid Lookback Period: Nursing Home vs. Home Care Medicaid
There is a five (5) year lookback period when you apply for nursing home Medicaid. This means that Medicaid will review your financial history, including any gifts or transfers you made, during the five years preceding your application date. If you are married, Medicaid also will take into account gifts and transfers by your spouse during the same five-year period. This rule is intended to prevent Medicaid applicants from giving away their assets solely to qualify for Medicaid benefits.
Applicants currently seeking home care Medicaid in New York do not have a lookback window. However, the law will change to a 30-month lookback period in 2025. A Medicaid planning attorney from Amoruso & Amoruso LLP can help you understand how the lookback period could impact your eligibility for home care Medicaid services and discuss available options for your specific situation.
Common Mistakes in Medicaid Planning
By hiring an attorney to start Medicaid planning early, you can avoid one of the most common mistakes — waiting too long and incurring penalties that delay your access to long-term care coverage in a nursing home, especially given the lookback period for asset transfers imposed for Institutional Medicaid coverage.
Other common mistakes to avoid include:
- Gifting without legal advice – Giving your assets to family members as gifts may disqualify you from qualifying for Medicaid.
- Failing to use spousal protections – If you require long-term care, you understandably want to provide for your spouse financially. A Medicaid planning attorney can advise on ways to help protect the non-applicant (“community”) spouse’s assets and income as well as provide options to allocate a portion of your income to your spouse.
- Incorrectly structuring trusts – Trusts can help ensure that assets are not included in Medicaid eligibility calculations, but only if drafted properly.
Why Choose Amoruso & Amoruso LLP for Medicaid Planning in Greenburgh?
With over 60 years of combined legal experience, the elder law and estate planning attorneys at Amoruso & Amoruso LLP can assist with all your Medicaid planning needs in Greenburgh. At our firm, our goal is Empowering You to Care for the Ones You Love™. Call or contact us today to schedule an initial consultation.
