For years, New York has offered a wide range of Medicaid home care programs and services geared toward differing needs. But the regulations surrounding these programs have undergone a dramatic—and largely unwelcome—transformation, which begins to take effect next month.
Category Archives: Medicaid Planning
Medicaid Planning blog archives section.
New Medicaid Look-back and Transfer Penalty to be assessed for Community Based Home Care Services
Until now, New Yorkers could almost instantly qualify for Medicaid Home Care services by transferring assets one month and being considered financially eligible for Medicaid Home Care services the following month. This made Medicaid Home Care services a very attractive alternative for New York residents in need of long term care at home.
Changes to Medicaid Eligibility and Access to Medicaid Home Care Services in New York
The recently enacted New York State budget, which goes into effect on October 1, 2020, introduces, for the first time, a look-back period on assets transfers for those seeking Medicaid Home care benefits.
Filial Responsibility Law
We spend our young lives fully dependent on our parents’ care. It only makes sense that at the end of their lives, we return the favor. Caring for aging parents may seem like simply a moral prerogative, but there are legal grounds as well, known as Filial Responsibility Laws or Filial Support Laws.
Medicaid Recertification in New York State
Going through the paperwork and pay downs and estate planning required to become eligible for long-term care coverage through Medicaid benefits can feel overwhelming and time-consuming.
New York Pooled Income Trust
A pooled income trust allows individuals to preserve their trust resources for living expenses while remaining eligible for public assistance benefit programs like Medicaid. These trusts are operated by certain nonprofit organizations such as Life, Inc., United Community Services Disability Pooled Trust (UCS Trust Services) and NYSARC.
Medicaid Resource and Income Levels
With healthcare costs rising every year, it’s critical to have a plan to pay for coverage as you age or if you become disabled. Medicare does not cover everything for people over 65. For example, although Medicare pays for hospital care and short-term rehab facilities, it does not cover residential long-term nursing support.
What Does Medicaid Cover and How Much Does it Cost in New York and New Jersey?
In order to qualify for Medicaid, you must be a citizen of or documented immigrant to the United States, reside in the state in which you are applying for Medicaid coverage, and meet a certain threshold of income.
Income and Asset Requirements For Medicaid Eligibility in New York and New Jersey
Medicaid is free or low-cost coverage for people who have a disability or are considered low-income. In order to be considered low-income and thus eligible for Medicaid, you must report your income and assets on your application for coverage.
The Process of Applying for Medicaid in New York and New Jersey
As you get older, you will be faced with a range of important decisions about your assets, care, and family. Ensuring access to healthcare is one of the most critical aspects of aging, especially with the cost of care constantly rising.