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Orange City Estate Planning Blog

Watch Your Language: D.R.A.

In 2005, Congress passed legislation which, among many, many other things, changed the way a Medicaid applicant’s resources and past transfers are considered. This bill is called the Deficit Reduction Act of 2005 and was signed by the President on February 8, 2006.[Read More]

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Watch Your Language: Penalty Divisor

If you’ve transferred assets within the lookback period, the state is going to assess an eligibility penalty period based on the value of all the transfers you made within that 60-month window. The penalty period can be calculated by dividing the value of that gift by the penalty divisor. [Read More]

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Watch Your Language: Lookback Period

If you’ve heard anything about Medicaid, you’ve probably heard about the lookback period. In Iowa, the lookback period is the period of time starting with the day you apply for Medicaid and extending back through time for sixty months. We break that definition down after the jump. [Read More]

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Devils, Details, and Deadlines: Calculating the Penalty Period

If you can’t prove you didn’t make a transfer to get on Medicaid, that transfer becomes a disallowed transfer. And that’s bad because a disallowed transfer means a penalty period will be imposed, delaying the time you are allowed to receive Medicaid coverage for the nursing home. The real question becomes: how do you calculate the penalty period? [Read More]

The length of the penalty period depends on the value of the assets transferred.

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