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Reply to ""Spending down assets" and the years of "lookback""
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[quote=Anonymous]From the American Council on Aging: Unfortunately, Medicaid does not extend an exception to the look-back period for charitable contributions, as [b]Medicaid assumes any gift is given with the intention to “spend down” assets to meet the asset limit. This means that giving to charity during this time frame can result in a denial of Medicaid benefits. [/b]While charitable donations are sometimes exempted (not counted), the Medicaid applicant must prove that the gift was for another purpose other than qualifying for Medicaid. That said, it is very rare that a large, one-time donation would be exempted. On the other hand, [b]if the individual gives to charity on a regular basis, this is more likely to be exempted, particularly if there is a long history of giving to the charity.[/b] [/quote]
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