Additional Post-Eligibility Considerations
Accounts Closed Out During the Look-back Period
In addition to providing history for all accounts during the relevant look-back period, documentation should be provided for any accounts terminated during such time. Also, tracing the proceeds of such accounts is necessary. Firstly, this process will allow you to detect unknown transfers. Secondly, such information is to be provided since the County Board does a crosscheck with the IRS of Forms 1099 of a Medicaid recipient prior to eligibility. Such crosschecks will reveal all interest bearing accounts held by a Medicaid recipient (and other assets such as stocks) during this time period. If such search reveals an account(s) not disclosed in the Medicaid application papers, the County will make a post-eligibility inquiry. By providing such documentation at the time of application, the family avoids the nuisance of subsequent inquiry by Medicaid with respect to accounts closed out and not mentioned.
Disclaimer: This article does not constitute legal advice and each person may have unique facts for which legal consultation may be necessary.
© February 2009, Post #2
Accounts Closed Out During the Look-back Period
In addition to providing history for all accounts during the relevant look-back period, documentation should be provided for any accounts terminated during such time. Also, tracing the proceeds of such accounts is necessary. Firstly, this process will allow you to detect unknown transfers. Secondly, such information is to be provided since the County Board does a crosscheck with the IRS of Forms 1099 of a Medicaid recipient prior to eligibility. Such crosschecks will reveal all interest bearing accounts held by a Medicaid recipient (and other assets such as stocks) during this time period. If such search reveals an account(s) not disclosed in the Medicaid application papers, the County will make a post-eligibility inquiry. By providing such documentation at the time of application, the family avoids the nuisance of subsequent inquiry by Medicaid with respect to accounts closed out and not mentioned.
Disclaimer: This article does not constitute legal advice and each person may have unique facts for which legal consultation may be necessary.
© February 2009, Post #2
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