On October 2020 a new rule regarding Community Medicaid eligibility was created; however, due to the present pandemic NYS cannot enforce this new rule until the pandemic is controlled. Hence, the effective date has been extended several times and last week it was extended once again from January 1, 2022 to April 1, 2022.
What does this mean?
Beginning April 2022 Community Medicaid applicants will be forced to submit 2.5 years of bank statements. Any transfer(s) during the look-back period will impose a disqualification period depriving the applicant of home care services. Nevertheless, the good news is – applicants applying between now and April 2022 can transfer any amount of assets one month and become financially eligible the following month.
For additional information contact our office at (718) 575-5700 – Consultations are always Free.