What documents need to be prepared for Medicaid and in what format?

Asked by

How does Medicaid like to SEE the visual documents regarding the 5 year look back period. I am a POA for my Mother and have about 1 year left private pay, so getting ready to compile all the back up papers, docs etc. to provide to Medicaid. There are no insurance policies. There are IRA's. I have been keeping an accurate accounting of all the payments through her checkbook for 3 years and it is accurate, down to the penny.
I will add that since I had to get involved in her financials 3 years ago, there are 2 years previously of docs that are scattered when she handled her affairs solely during that time. During that 2 year time I monitored her, but did not get involved with her writing checks, only if they were big ones like for a roof.
- Do they like to see each monthly statement with copies of the checks written attached as well as deposits for all 5 years?
- Do they like to see a chronological setting of checks written out?
- Do they want an official accounting statement from the bank encompassing all transactions?
- If I only have 3 years of statements/checks, do I need to go back to the banks to retrieve the later 2 years?
- What is the best format to present to Medicaid?
Literally one could hand over 3 feet of data to Medicaid, I want to know how to copy/present the docs in an acceptable format.
Thank you and all the best!

Answers 1 to 1 of 1
Expert Answer
3930 helpful answers
You sound like a dream for the social worker helping your mother qualify for Medicaid.
Exactly what you will need depends on the state where she lives and her assets. The IRAs will be an issue, so have statements ready. Also, be able to produce most of the documents you have talked about, but I wouldn't worry about going in with everything. You'll make an appointment and will most likely be told what they want for the first interview. After that, they will ask for what they want. I believe you will be able to produce it quickly from what you've said. You may want to write a brief statement giving a concise view of the last five years without bringing in all of the backup information until they ask.
You can explain the two years when she wrote her own checks, but if you were aware of the large checks and what they were for, that will help. You can say "this was for a new roof" or whatever the large checks covered. They won't care about her groceries, etc.
I really don't think you'll have a problem with producing what they need. Have recent bank statements ready, your POA papers, recent statements from her IRAs and any other assets. If she has a prepaid funeral arrangement, they will want to know that. If she owns a home, they will want to know about that. As I said, they will guide you. Just get things organized for yourself, and let them tell you what you will need for the first interview. You'll do just great.
Carol

Share your answer

Please enter your Answer

Ask a Question

Reach thousands of elder care experts and family caregivers
Get answers in 10 minutes or less
Receive personalized caregiving advice and support