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Medicaid’s 5-Year Lookback Trap | Durham News
Aging in America comes with a brutal financial reality: nursing home care can cost over $129,000 a year—with some states hitting $221,000. Medicaid may seem like a safety net, but its 60-month lookback rule means it scrutinizes your finances for five years before application. Gifts, asset transfers, or even cheap sales can trigger penalties, locking you out of help for months—or even years. The IRS gift tax exclusion doesn’t shield you from Medicaid’s rules. Planning ahead—with an irrevocable trust set up at least 60 months before care—is your best shot, but timing is everything. Don’t wait…
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