You cannot simply gift your assets to someone else to prepare for nursing home costs. The “look back” period is the five year time period wherein Medicaid will look at your financial records to see if you have made any transactions that would render you ineligible for benefits. If you find yourself facing a nursing home in the near future, you should understand your options. There are ways to spend your assets on items that do not trigger a penalty period for nursing home coverage. Your Medicaid caseworker may not always tell you your options, so it’s important you do your own research and understand the tools given to you.
