Medicaid FAQ
- Medicaid will not take your Homestead
- Florida is a very Medicaid friendly state. There are ways to protect assets without a spend down.
- It is very easy to approve a married individual without spending down your life savings
- Some retirement accounts can be considered an excluded asset
- Some transfers made within the five-year look back period can be reversed and corrected for eligibility
- There is no five year look back penalty for spouse to spouse transfers
Things not to do before having a consultation with Elder Benefits:
- Do not transfer any property prior to applying for Medicaid
- Do not liquidate accounts or transfer money to any individuals including family prior to applying for Medicaid
- Do not hide assets. A full disclosure is important and required by Florida Medicaid
- Even though a gift is allowed for federal tax exemptions. Gifting is not allowed under Florida Medicaid rules. There is a five-year look back period for Medicaid eligibility
- There is no five-year look back period for spouse to spouse transfers