Medicaid

The CARES Act Suspends RMD Requirement but not for Medicaid Recipients

The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed a couple of months ago is mostly known for the economic relief provided to individuals and businesses. However, the new law also suspends the requirement to take required minimum distributions (RMDs) for this year, even for inherited IRAs. If you already took the 2020 RMD, …

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Applying for and Keeping Medicaid Services During the COVID-19 Emergency

In light of the COVID-19 closing of non-essential workplaces and the reduction of staff members in essential ones, the New York State Department of Health has adjusted the requirements for Medicaid applications and assessments during this time. For those applying for Medicaid for the first time, the major difference to note is that you will …

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Irrevocable Trusts and the New Community Medicaid Lookback

Effective October 1, 2020 New York State will be implementing a thirty-month lookback as an eligibility requirement for Community Based Medicaid.  The lookback period for Chronic “nursing home” Medicaid will remain at sixty months. In addition, Spousal Refusal remains intact. Now more than ever it is important to consider your planning and for most, that …

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