Medicaid is a lifeline for many New York households, providing coverage for critical medical expenses and long-term care costs. You or a family member may have received benefits and are now wondering if you have to pay back Medicaid in NY. Unfortunately, like most areas of law, there is not a straightforward answer. It depends on the specific circumstances. However, there are some unique situations in which repayment is not required.
Medicaid is a public health insurance program that provides coverage for necessary medical services for individuals with limited income. This leaves many Medicaid recipients in NY wondering – does the state ever get that money back? Medicaid has a program called Medicaid Estate Recovery, which allows the state to seek reimbursement for any benefits provided to certain individuals from the beneficiary’s estate after they pass away.
Fortunately, there are a few exceptions to Medicaid Estate Recovery. The state cannot access an estate’s funds in any of the following cases:
The last exception is when the court makes the decision during the probate process.
With the right planning, you can limit or even avoid Medicaid Estate Recovery. One legal tool, an irrevocable trust, is particularly effective in protecting your assets from recovery while maintaining your eligibility for benefits. By planning ahead and transferring assets into a trust well before you need care, you can keep your assets safe and accessible to your family. However, it is essential to act promptly as Medicaid has a five-year look-back period for asset transfers to prevent fraud. During an initial consultation, an attorney could review your case and help you determine if you have to pay back Medicaid in NY.
Navigating Medicaid requirements can feel daunting without skilled legal guidance. The experienced attorneys at Tully Law Group, PC are here to guide you through every step and identify effective solutions to meet your family’s needs. Whether you are planning for long-term care, protecting your assets, or just trying to understand your options, we could assist you. Give us a call today to find out if you have to pay back Medicaid in NY.
