Can an ALTCS applicant give away excess resources to become eligible for the benefit?
While Arizona Medicaid rules permit ALTCS planning, those who apply for Arizona Medicaid cannot give their resources away to obtain ALTCS eligibility. To prevent this, Arizona Long-Term Care System has implemented a policy penalizing transfers without value. ALTCS/Medicaid applicants who give away assets for any reason must wait for a period of time before becoming eligible for the benefit. The larger the uncompensated transfer, the longer the applicant must wait before becoming eligible. While gifting may play a role in ALTCS planning, Arizona Medicaid applicants should never do so without the assistance of an Elder Law firm. With the guidance of an Elder Law attorney, applicants can set out on the quickest path to meet Medicaid qualifications without accruing unnecessary penalties.
Related Questions
- Can a petitioner (sponsor) with limited financial resources sponsor only the principal applicant and not his/her spouse and eligible children?
- How are spouses affected when their husband or wife must spend down resources to qualify for the ALTCS benefit?
- May an ALTCS applicant spend down her resources to meet the ALTCS resource limit?
