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If a person has used all their savings to pay for nursing home costs what happens to their home if it has previously been gift deeded with lifetime right to someone else?
Wiki User
∙ 14y ago
Under Medicaid policy, the gift is a transfer of assets. If it occurred more than 60 months ago, it probably won't affect eligibility. If it occurred less than 60 months ago, the State will likely conclude that the client did not receive fair market value for the gift. The State will apply the FMV of the property against the private pay nursing home rate for each month since the transfer - e.g., FMV = $50,000; private pay rate = $5,000/month, client is ineligible for payment of nursing home care for 10 months from the date of the transfer. The transfer will not affect client's eligibility for payment of other medical expenses (e.g., physicians, hospitals, etc.)
Wiki User
∙ 14y ago
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