Medicaid is a government program that provides medical care to individuals with long-term health conditions. Many people who require chronic care depend on Medicaid to cover the high cost of nursing homes, which can be upwards of $18,000 per month on Long Island....
Preserving & Protecting Your Family’s Assets & Legacy
Medicaid Planning
Substantial increase in Medicaid eligibility levels in January 2023
New York Medicaid asset and income limits for Long Term Care Medicaid are based on a percentage of the Federal Poverty Levels (“FPL”). On January 1, 2023, New York State will increase these percentages. This translates into substantial increases for both income and...
2023 New York Medicaid Updates
Please see our new post for 2024 Medicaid updates. For those New York residents who are in need of long-term care, New York State offers two Medicaid programs to cover the cost of such care. There is Community Medicaid, where the care is customarily administered in...
What is the Excess Income program?
Medicaid has restrictions that prevent certain income levels from qualifying. However, Medicaid offers a program called the Excess Income program. Otherwise known as the Surplus Income program or Spenddown program, the goal is to provide Medicaid for people who have...
Updated 2022 Medicaid regional rates
The amounts listed below are the 2022 Medicaid Regional Rates, which represent the average cost of a nursing home in each of the seven regions in the State of New York. These rates are used to calculate transfer penalties that may result from the gifting or...
3 things to know when naming a health care proxy
Without warning, serious illness or injury may strike, leaving people unable to make medical decisions for themselves. Who will speak up for them when they cannot give voice to their wishes? As part of their estate plans, many people create advance care directives,...
Medicaid lookbacks will change soon in New York
On April 7, 2020, New York State made changes to the qualification rules with respect to community Medicaid benefits (e.g., home health aides). The new law now imposes a 30-month financial lookback for individuals applying for community Medicaid benefits. This law...
What is a lookback period?
When your parents get older and need more care, you likely will begin investigating how much it costs to live in an assisted-living facility or nursing home in New York. Very quickly, you’ll realize your parents’ nest egg may not cover the high costs. A month in a...
Medicaid limits in New York
If your parent needs long-term care, he or she may qualify for Medicaid. However, New York has income and asset limits in place that affect eligibility. Learn more about the financial qualifications for New York Medicaid for seniors who need nursing home assistance....
Why might you need Medicaid?
The Medicaid program can provide you with benefits and coverage that you may not get through other health insurance you have, including Medicare. According to Medicaid.gov, your eligibility for this program depends on your income level because it is only for...
An Elder Law And Estate Planning Law Firm On Your Side.