Five-Year Look-Back

The Medicaid look-back is the amount of time the government can review your financial history to see if you made any gifts. Presently, Medicaid is allowed to ask for 5 years of your financial history. This means producing 5 years of bank statements, brokerage statements, year-end statements relating to cash value of life insurance, etc.

Do I need to keep all these statements?

Yes. We have to prove your entitlement to eligibility. To prove that, we need statements. A paper trail is imperative. We recommend anyone with concerns of needing long-term care keep a minimum of 5 years of statements.

What if I don’t have the statements?

Then we need to get them. Even if your bank charges for old statements, we have an obligation to get them. However, if the cost would be a financial hardship, we can request the county pay the cost.