Does Medicaid have a 5 year look back period?

Speaker 1: Robert, I'm sure there's some people out there listening right now. They're saying, "Hey, guys, why are you making this so complicated? Why don't I just give away all my assets to my kids and therefore I'm going to qualify for Medicaid to pay my nursing home for me?" We know that that's not a good plan.

Attorney Robert Hidock: We can't do that because there's a five-year look-back penalty. With respect to that, then they get a transfer of asset penalty so their loved one isn't going to able to apply for Medicaid for that certain period of time. However, there are ways of requalifying for someone for Medicaid. We do have Medicaid-compliant tools that can undo that gifting and allow them to qualify. It just really depends on the situation.

Speaker 1: Folks, again, as you're out there in the community talking to your friends and family and coworkers and neighbors, and you hear these words, "Oh, she's got to go into a nursing home, $10,000 to $12,000 a month. Everything she's ever worked for going to be up in smoke used up, nothing we can do about it." Well, we want to let you know that Olsen Law Group in Orlando, we have all the Medicaid-compliant tools we need to protect your wealth from the cost of a nursing home. We would love to assist you with that. We have a free booklet for you and it's called How to Protect Your Life Savings From the Cost of a Nursing Home. If you'd like for us to mail that free booklet to you, again, call the Olsen Law Group in Orlando anytime, 407-423-5561, or go through our website, olsenlawgroup.com.

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