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Federal law denies Medicaid coverage for long term care and Personal Care Services and Home Health Services and supplies where countable assets are transferred without adequate compensation. A penalty can arise where income or assets are refused (such as renouncing an inheritance). Penalty period ( in months) = Uncompensated amount divided by $5,000 The penalty can arise with transfers of assets by either the Medicaid recipient or their spouse. It matters not who owned the assets, all the assets are lumped together. Upon application, inquiry will be made of transfers going back 36 months. Multiple transfers can result in multiple penalties. Penalties run from the date of the transfers. Subsequent to institutionalization, assets acquired by the community spouse can be transferred without penalty. |
