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Diane Publishing Books
Medicaid Long-Term Care: Few Transferred Assets before Applying for Nursing Home Coverage; Impact of Deficit Reduction Act on Eligibility Is Uncertain
Kathryn G. Allen (au)
To be eligible for Medicaid long-term care (LTC), individ. may transfer assets to others to ensure that their assets fall below certain limits. Individ. who make transfers for less than fair market value (FMV) can be subject to a penalty that may delay Medicaid coverage. An Act (DRA) in 2005 changed the calculation & timing of the penalty period & set require. for the treat. of certain types of assets. This report provides data on the extent to which asset transfers for less than FMV occur. Covers: the finíl character. of elderly nursing home (NH) residents; the demographic & financial character. of Medicaid NH applicants; the extent to which these applicants transferred assets for less than FMV; & the potential effects of the DRA prov. related to medicaid eligibility for LTC.
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