Working Caregiver- Medicaid Transfer of Assets
Be aware that giving away assets without compensation may result in nonpayment of nursing facility
Medicaid Transfer of Assets
Please be aware that giving away assets without compensation may result in nonpayment of nursing facility, ICF-MR and CBA services. Assets transferred up to 36 months before application for long-term care or institutionalization services, and 60 months for certain trusts, may affect an individual's entitlement to payment of services. There is no transfer penalty if a recipient transfers a home to a:
- spouse living in the home (the transfer penalty applies when the community-based spouse transfers the home without full compensation);
- child or children under age 21;
- child or children over age 21 living in the home for at least two years before the client's institutionalization and who provided care to prevent institutionalization;
- child or children of any age that meet the Supplemental Security Income (SSI) rule for disability/blindness; and
- brother or sister with equity interest in the home and who lived there for at least one year before the client's institutionalization.
