LAST MONTH TO MAKE EXEMPT TRANSFERS FOR HOME CARE/COMMUNITY MEDICAID

Previously we advised that under the new Medicaid law, effective October 1, 2020, there will be a 2 ½ year look-back period for Community (Home Care) Medicaid.   Community Medicaid includes, among other things, home health care services and aides and assisted living services. For all transfers on or after October 1, 2020, there will be a transfer penalty imposed for …

IRS Changes Rule to RMDs

Under the CARES Act, the requirement to take your required minimum distribution (RMD) for 2020 was temporarily suspended, but limited the non-penalty repayment to those who already took their RMD between a limited number of days (60 days before the CARES Act was enacted).  This left anyone who took their RMD in the first three weeks of January unable to …

COVID-19 Procedures Update

As your health and safety are our primary concern, our law office has implemented the following procedures to protect everyone: All persons entering the office suite are required to wear masks. Gloves are optional.  If you do not have a mask/face covering, one will be provided.  We also have gloves if you would like. If you are feeling unwell, or …

Important changes to Home Care (community) Medicaid

Effective October 1, 2020, Home Care (community) Medicaid will change to require a full financial review for the 2.5 years immediately prior to the requested pick up (start) date and impose transfer penalties, similar to those for nursing home coverage. This change creates a huge roadblock for many seniors and disabled individuals who need care at home.  Although there are …