If you are among the millions of Americans who face uncertainties about the future of your healthcare, then Medicaid is likely a huge source of comfort for you. However, the concept of a Medicaid look-back period might be a cause for concern regarding your eligibility.
Understanding the complexities of Medicaid benefits and eligibility is difficult enough without additional layers of bureaucracy weighing on your mind. Once you become familiar with the Medicaid look-back period and how it affects you, there will be one less burden on your mind as you proceed with your healthcare plan.
What is the look-back period?
As with any other state, the Florida Medicaid program entails a look-back period across the past five years from the date of application. Any conspicuous transfer of assets during the look-back period will fall under the scrutiny of the state while your application is under review.
How does look-back affect eligibility?
Because Medicaid exists to assist those with a genuine need for financial help, the look-back process serves to determine if your financial worth truly meets the criteria of the Medicaid program. In the event that the state determines a transfer of your assets within the past five years is an act of falsifying your financial qualification, it is likely that you will not receive Medicaid benefits until such transfers are no longer part of the look-back period.
Without the look-back system, the Medicaid process would be easily exploitable by individuals with the foresight to move their assets around. While it may provide a mild inconvenience, the look-back ensures that people with good faith and a genuine need will get invaluable help paying for long-term medical care.