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{"id":13789,"date":"2014-11-14T00:31:01","date_gmt":"2014-11-14T00:31:01","guid":{"rendered":"http:\/\/www.seonewswire.net\/2014\/11\/gifts-can-affect-medicaid-eligibility\/"},"modified":"2014-11-14T00:31:01","modified_gmt":"2014-11-14T00:31:01","slug":"gifts-can-affect-medicaid-eligibility","status":"publish","type":"post","link":"http:\/\/www.seonewswire.net\/2014\/11\/gifts-can-affect-medicaid-eligibility\/","title":{"rendered":"Gifts Can Affect Medicaid Eligibility"},"content":{"rendered":"

<\/p>\n

Older adults often give gifts to children or grandchildren. Unfortunately, these gifts can affect a person\u2019s Medicaid eligibility, so it is important that older adults carefully plan their gift-giving if they may eventually need Medicaid long-term care benefits. <\/p>\n

Under federal law, people who transfer certain assets within five years of applying for Medicaid may be ineligible for benefits for a period of time. This rule is designed to prevent people who are financially secure from improperly transferring assets in order to qualify for Medicaid. <\/p>\n

Gift tax law and Medicaid law are different in their requirements. Individuals can give up to $14,000 per year without paying a gift tax, but those gifts are still treated as a transfer under Medicaid law. There is also no exception for gifts to charities.<\/p>\n

Some transfers are, however, exempt from this issue: <\/p>\n

Gifts to one\u2019s spouse<\/li>\n<\/ul>\n
- Gifts to one\u2019s blind or permanently disabled child<\/li>\n<\/ul>\n
  - Transfer to a trust for (more…)<\/span><\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"
    Older adults often give gifts to children or grandchildren. Unfortunately, these gifts can affect a person\u2019s Medicaid eligibility, so it is important that older adults carefully plan their gift-giving if they may eventually need Medicaid long-term care benefits. Under federal…<\/span><\/p>\n
    Read more ›<\/a><\/div>\n
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