Alzheimer’s Facts

http://payingforalzheimerscare.wordpress.com/2008/12/12/alzheimers-facts/

We’ve talked before about countable vs. non-countable assets, but one thing that must be considered as well is that Medicaid also looks at transfers of property, money etc that have occurred. In general, if your loved one with Alzheimer’s needs to apply for Medicaid, they will look back at all transfers that took place over the last 5 years (depends on your state) to see if they were proper or improper.

If Medcaid believes an improper transfer took place, they can apply a penalty period for a transfer. So if for example your mom needs to go into a nursing home and apply for Medicaid, but 2 years ago she gave you $40,000, this may be viewed as an improper transfer subject to a penalty (it was within 5 years of the date she is in the nursing home and applied).

The penalty means.......click here for the whole story

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