Need to know how long one has to transfer all assets, i.e., bank accounts, home, cars, etc. to someone else before being admitted to a nursing home in New York. I know in the state of Wisconsin the assets have to be transferred at least 5 years before admittance so that the nursing home cannot touch the assets. What is the statute of limitations for New York or how can I find out what it is?

This question has been closed for answers. Ask a New Question.
Find Care & Housing
I think 5 years although I'm pretty sure the federal regulations on Medicaid allow for the look-back to be up to 10 years. I don't think any state does 10. Go to Tony Rovere's blog / posts on this site for his experience in NY state.

My experience has been in TX and LA. Both currently have 5 year look-back. Medicaid is run by each state under federal compliance rules (as $ is coming from the feds). My mom's lookback was for 3 years and 6 months of all financial records for her application. She went to NH from IL and still had her home, so her pattern of spending was pretty clearly set. Keep in mind that real property data is in the states database - the local assessor or tax collector provides all that data to the state - and the Medicaid program can in just keystrokes be able to dovetail that info to the Medicaid application. Also when they apply for Medicaid, they (or you or whomever does it) sign off on allowing an all access pass to their data. So really you can't try to get cute and leave stuff out. If it's in their name or their spouse's name, it will show up eventually. Really you don't want that to happen as an after the fact asset discovery, as it will trigger a transfer penalty inquiry and could involve private pay required retroactively by the family to the NH.
Helpful Answer (0)

This question has been closed for answers. Ask a New Question.
Subscribe to
Our Newsletter