The Medicaid Look Back Period Explained

Mark Eghrari, Forbes contributor explains the Medicaid Look Back Period.  His post starts as follows:

One of the most misunderstood aspects of Medicaid is the look back period for asset transfers and how that affects eligibility for elderly people in need of long-term healthcare.

Let’s start with a quick explanation.  Medicaid is different from Medicare (although many people, by mistake, refer to the two programs interchangeably.) Medicare is an entitlement program paid for through payroll withholding. Medicaid is a form of social welfare designed to help people in need. Medicaid is administered by each state and sometimes by each county within a state – which means the rules and benefits can and do often vary.

Read more at The Medicaid Look Back Period Explained.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.