Medicaid Long-Term Care: Few Transferred Assets before Applying for Nursing Home Coverage; Impact of Deficit Reduction Act on Eligibility is Uncertain

TitleMedicaid Long-Term Care: Few Transferred Assets before Applying for Nursing Home Coverage; Impact of Deficit Reduction Act on Eligibility is Uncertain
Publication TypeReport
Year of Publication2007
AuthorsUnited States Governmental Office
InstitutionWashington, DC, U.S. Government Accountability Office
KeywordsHealthcare, Medicare/Medicaid/Health Insurance, Net Worth and Assets, Public Policy
Abstract

Question: There is some concern that individuals transfer assets (at less than fair market value) in order to be eligible for Medicaid. Since Medicaid paid nearly one-half of the nation s total long-term care expenditures in 2004, analysis was needed to determine how prevalent this practice was. Finding: Using the NIA-funded Health and Retirement Study, GAO found that few elderly individuals had resources to support even a year s worth of private-pay nursing home care at the time they entered a nursing home. Medicaid-covered nursing home residents were less likely to have reported transferring cash than non-Medicaid-covered residents.

Endnote Keywords

Asset transfer/Medicaid/Long Term Care/Public Policy

Endnote ID

62558

Citation Key5703