Witness Minimizes Effect Of Medicaid LTC Asset Transfers
Are asset transfers for Medicaid long term care eligibility more myth than fact?[@@]
Judith Feder, dean of the Georgetown Public Policy Institute, told members of the Senate Finance Committee that she believes that some health policy specialists really are exaggerating the effect of asset transfers on Medicaid LTC costs.
“Analysis of transfers made by the elderly over time out of their accumulated assets show that only 1 in 100 of the elderly gave gifts to their children that would be large enough to qualify them for Medicaid nursing home coverage,” Feder said at a Finance Committee hearing on long term care finance issues.
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Feder told committee members that taxpayers are far more likely to make asset transfers to keep estates under estate-tax filing thresholds than to qualify for Medicaid LTC benefits.