Medicaid Planning support in New York
The best time to begin Medicaid planning is now, well before you need health care. Schedule your consultation today, before Medicaid lookback periods change in 2025.
Over a Decade of
Experience
New York State Bar Association (NYSBA) Member
Navigate New York State Regulations
Elder Law
Work with us for comprehensive Medicaid Planning
Planning for future health care needs is one of the most important steps you can take. At Abraham Mazloumi & Associates, we help New York residents navigate the complex world of Medicaid planning and eligibility.
Medicaid planning is crucial for several reasons:
• Medicare’s limited coverage: Medicare does not cover long-term custodial health care, a significant expense for many seniors. Medicaid can cover these costs, but qualifying requires careful planning.
• Income and resource limits: Medicaid has strict income and resource limits. Without proper planning, you could jeopardize your eligibility.
• Look back period and penalties: Medicaid’s 5-year lookback period for Nursing Home Medicaid (and the upcoming 30-month lookback for Community Medicaid starting in 2025) penalize the gifting and uncompensated transfer of assets made before applying. Early planning is essential to avoid these penalties.
• Estate recovery: Medicaid can seek reimbursement from your estate after your death for services received, potentially jeopardizing your home and other assets. Planning can help protect you from this.
Due to lookback periods, the best time to begin Medicaid planning is now, well before you actually need health care.
Medicaid Planning support tailored to you
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Medicaid Planning strategies
Pooled Income Trusts
If your “countable” income exceeds Medicaid’s income limits, a Pooled Income Trust (PIT) may enable you to keep your existing income, and qualify for Medicaid despite being over the income limit.
However, in order for Medicaid to “ignore” the income you place into a pooled trust account, you need to be deemed “disabled” by Medicaid. Qualifying as “disabled” is often achievable, as age-related conditions frequently meet Medicaid’s disability criteria.
We guide you through establishing and funding your Pooled Income Trust, as well as applying for the required Medicaid disability determination.
Medicaid Asset Protection Trusts
A Medicaid Asset Protection Trust (MAPT) serves two critical functions:
1) Protecting your assets during your lifetime
2) Shielding them from Medicaid estate recovery after your death
This is particularly important for protecting your home. Without proper planning, Medicaid may place a lien on your house during your lifetime or seek reimbursement from your estate after your passing.
At Abraham Mazloumi & Associates, we evaluate your situation to determine if a MAPT aligns with your goals. We’ll explain which assets should be placed in the trust, how you can maintain access to your home, when the trust should be established, and how the trust protects against future Medicaid claims.
Our comprehensive approach
We handle every aspect of your Medicaid planning in-house, including:
- Designing a suitable Medicaid Planning strategy
- Implementing your Medicaid Planning strategy
- Preparing all legal documents (which only licensed attorneys can do)
- Establishing your Pooled Income Trust if needed
- Assisting with disability determination when required
- Obtaining Medicaid benefits
- Securing Home Health Care services
Medicaid Planning services in New York
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Why you should start planning today
Planning ahead helps you avoid penalties that could delay your eligibility when you need health care most. This is especially crucial in New York because:
- There is a 5-year lookback period for Nursing Home Medicaid that penalizes gifts or uncompensated asset transfers made during that time.
- New York State is set to implement a 30-month lookback period for Community (Home Care) Medicaid in 2025. Planning now could help you avoid penalties and restrictions.