On October 2020 a new regulation was passed regarding Community Medicaid eligibility process. Previously, applicants were able to transfer any amount of assets one month and become financially eligible the very next month. The new regulation, which was to take effect October 2020, changed the eligibility process. Applicants will need to surrender 30 months or two and one-half (2.5) years of bank statements. Any transfer other than from spouse to spouse will create a disqualification period. However, due to the pandemic this rule has been extended several time. The new date of April 1, 2022 is now extended to either July 1, 2022 or some say October 1, 2022. More information to follow as soon as it becomes available.
The present extension created a new window of opportunity. Potential Community Medicaid applicants received the opportunity of a lifetime. Not only are applicants able to apply for Community Medicaid, but at the same time they are able to protect their life savings.
For additional information regarding the new regulation or Medicaid eligibility for Community Medicaid or nursing home Medicaid contact Elder Care Services, Inc., and request your Free consultation.