When you apply for Medicaid in the state of New York, the New York State Department of Health reviews all gifts given and transfer of assets from the past five years to determine how long the applicant must wait before receiving Medicaid benefits. Since the five-year look back period can affect a loved one’s long term care options, is advisable to consult with an elder law attorney before the long-term care is actually needed.
By Esther Schwartz Zelmanovitz
