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Diane Publishing Books
Medicaid Long-Term Care: Information Obtained by States about Applicantsńˇ╗ Assets Varies and May Be Insufficient
Carolyn L. Yocom (au)
Medicaid ńˇţ a joint federal-state health care financing program for certain low-income individuals ńˇţ paid for nearly half of the nationńˇ╗s $263 billion long-term care expenditures in 2010. To be financially eligible for Medicaid coverage for long-term care, applicants cannot have assets ńˇţ income and resources ńˇţ above certain limits. Federal law discourages individuals from artificially impoverishing themselves in order to establish financial eligibility for Medicaid. Specifically, those who transfer assets for less than fair market value during a specified time period ńˇţ or ńˇýlook-backńˇŁ period ńˇţ before applying for Medicaid may be ineligible for coverage for long-term care for a period of time. The Deficit Reduction Act of 2005 (DRA) extended the look-back period to 60 months and introduced new requirements for the treatment of certain types of assets, such as annuities, in determining eligibility. States are responsible for assessing applicantsńˇ╗ eligibility for Medicaid, the criteria for which varies by state. This report examined the extent to which states (1) require documentation of assets from applicants; (2) obtain information from third parties to verify applicantsńˇ╗ assets; and (3) obtain information about applicantsńˇ╗ assets that could be used to implement eligibility-related DRA provisions. Tables and figures. This is a print on demand report.
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