How Gifts Can Affect Medicaid Eligibility
We’ve all heard that it’s better to give than to receive, but if you think you might someday want to apply for Medicaid long-term care benefits, you need to be careful because giving away money or property can interfere with your eligibility. Under federal Medicaid law, if you transfer certain assets within five years before applying for Medicaid, you will be ineligible for a period time (called a transfer penalty), depending on how much money you transferred. Even small transfers can affect eligibility.