Medicaid eligibility requirements are strict within New York. You do not want to take any chances on not meeting these requirements, as you could find yourself forced to pay for costly medical care privately if you are not eligible for Medicaid coverage.
Mark S. Eghrari & Associates PLLC can provide you with help in making sure you understand what Medicaid eligibility requirements are and in taking steps to comply with those requirements. Medicaid planning (to protect your assets and to get Medicaid coverage when you need it) is one of the single most important steps to asset protection. Our experienced attorneys know how to provide the help that you need to make your plans. Give us a call at (631) 265-0599 to find out more about Medicaid eligibility requirements in New York and to find out more about your options for fulfilling those requirements.
What are Medicaid Eligibility Requirements in New York?
The New York State Department of Health explains the Medicaid eligibility requirements within the state. You can qualify for Medicaid coverage if you are a state resident and if you meet certain income and resource limits. The specific requirements for your income and resource limits will vary based on things like whether you are a senior, whether you are disabled, whether you are blind, whether you are a child, and whether you are pregnant.
There is a chart on the website of the New York State Department of Health which specifies different resource and income limits. For example, if someone is blind, disabled, or over 65 and has a family of four, the maximum annual income that is earned cannot exceed $18,850 and the maximum monthly income earned cannot exceed $1,571 or else household income will be considered too high to qualify for Medicaid (although there are exceptions if you have higher income but very high medical needs). Resource limits also apply, and a family of four can have a maximum of $28,275 in resources before becoming disqualified from Medicaid for having too much wealth.
You need to know the specific Medicaid eligibility requirements for your situation so you can assess whether qualifying for coverage is possible or not. Medicaid can help to pay co-insurance costs and Medicare premiums for seniors who struggle to get essential medical care, even while the senior is on Medicare. Medicaid also pays for important things that Medicare does not pay for, such as nursing home care. In fact, Medicaid may be the only option for routine nursing home care to be paid for, since Medicare and typical private health insurance doesn’t cover this type of care. If you cannot meet Medicaid eligibility requirements and nursing home care is needed, you will have to pay privately.
How Can You Meet Medicaid Eligibility Requirements in New York?
If you are applying for Medicaid, you have to provide proof of income and proof of resources to show you meet Medicaid eligibility requirements. If you need to get covered right away, you could have a problem if you have too much income or too many countable resources for Medicaid to cover you. You cannot typically give away or transfer assets right when you need Medicaid, as Medicaid looks to see if any transfers were made. In fact, Medicaid looks back for a full five years to find out if you’ve given away property, transferred ownership, or sold assets for less than market value.
You should make advanced plans to meet Medicaid eligibility requirements. You can do this by trying to structure asset ownership appropriately long before you need Medicaid to cover you. If you use certain types of irrevocable trusts or if you make gifts more than five years before the time that Medicaid coverage is needed, you should be able to protect all your assets and you should be able to get covered right away.
If you need care now, or soon, and don’t have five years to plan, there may still be steps you can take to provide protection for at least some of your wealth. You should get professional legal help because the process of protecting your assets can be very complicated and there is no room for error.
Getting Help from A Medicaid Planning Lawyer
Mark S. Eghrari & Associates PLLC understands the Medicaid eligibility requirements in New York and can provide you with advice on making effective use of NY legal tools to meet those requirements. To learn more about the services we offer and the ways in which our legal team can help you met the requirements and get Medicaid coverage, give us a call at (631) 265-0599 or contact us online today.
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