What is the Medicaid 5 Year Look Back?

What is the Medicaid 5 Year Look Back?

The 5 year lookback is simply a 5 audit of your assets and what has been given away. To be eligible for Medicaid, the individual can't have assets over the limit that Medicaid establishes. 

In order to prevent applicants from giving away or selling their assets to stay under that limit, Medicaid created the 5 year lookback. 

7 Year Lookback?

There is a common misconception that the laws were changing to make the 5 year lookback into a 7 year lookback, but as of right now, no laws have changed federally to initiate this. 

When Does the 5 Year Lookback Start?

The 5 year lookback will start on the date you submit your Medicaid application. They will then lookback and audit your assets for the last 60 months to see if you have given away or sold any assets, which Medicaid terms "improper transfers."

How to Keep Your Assets During the 5 Year Lookback

There is still a way to protect some of your assets if you are over the Medicaid limit. You could set up a quality of life account and use that money for things such as an upgraded room in your facility, dental work, glasses, hearing aids, getting your hair done, etc. 

Learn More About Medicaid Eligibility 

If you have any questions about Medicaid, our team is here to help! Contact us today to learn more and continue watching our education videos in our video library!