2020 has decided to make a mark in our lives and make it big. Not only did we get hit with a terrible virus, many of us lost our jobs and now the government is changing the rules regarding Community Medicaid eligibility.
Presently: an applicant can transfer their excess resources to anyone and become financially eligible the following month.
10-01-20: an applicant will have to submit 2.5 years of bank statements and any transfer during this period will impose a penalty period. Penalty period is the period the applicant will not be eligible for Community Medicaid.
Of course the details and procedures are not yet resolved but certainly looks like this will be the new order.
Suggestion: seek a Medicaid professional to discuss your eligibility qualification, estate planning and possibly apply before 10-01-20.