Do You Qualify for Medicaid?

Medicaid can help cover long-term care costs, including nursing home care and certain home care services. However, qualifying for Medicaid in New York involves strict financial and eligibility requirements.

Several factors determine eligibility, including:

• Income limits and how monthly income must be applied toward care costs
  Asset limits, including savings, investments, and certain property
• The Medicaid look-back period, which reviews financial transfers made before applying
• Exempt assets, such as a primary residence under certain conditions
• Spousal protections that may allow a healthy spouse to retain income & assets

Many families are surprised to learn that savings, retirement accounts, or property can affect eligibility. Certain asset transfers may also lead to penalties or delays in coverage.

Because Medicaid rules are complex, some individuals who believe they do not qualify may still become eligible through proper planning. An elder law attorney can review your situation, explain New York’s Medicaid requirements, and help you explore options for pursuing benefits while protecting assets where possible. Speak with an elder law attorney today to discuss your concerns and explore your options.