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!

Loading Form...
Most Recent

Medicaid Patient Liability

Posted By Richard A. Myers, Jr.
July 27, 2021 Category: Medicaid

“After I go into a nursing home and I’ve qualified for Medicaid, what happens to my income?” A large portion of your income has to be used to pay for care at the nursing home, like a copay. This is called the consumer

Should I Record My Will or Trust?

Posted By Richard A. Myers, Jr.
July 22, 2021 Category: Wills And Trusts

In short, it is not necessary to record your will or trust these days due to our ability to preserve a copy for you.

How to Choose the Best Assisted Living or Care Community?

Posted By Richard A. Myers, Jr.
June 30, 2021 Category: Elder Care, Senior Care Advocacy

Care Patrol helps families find those locations and those new homes for their parents, whether it be home care or assisted living. During these difficult times, people like Anthony offer their services to help ease the stress and confusion when it comes to making those important decisions.

Let's Get Social

Contact Us

red location icon | richard a. myers and associates

Main Office

815 Crocker Rd., Suite 10

Westlake, Ohio 44145

red location icon | richard a. myers and associates

Olmsted Township Branch

7172 Columbia Rd.

Olmsted Township, Ohio 44138

Newsletter

© , Richard A. Myers, Jr. & Associates, LLC Powered by VirteomVirteom Logo