Attorney Babette Bach, Esq. will be a keynote speaker at an event at JFCS of the Suncoast entitled “A Legal & Financial Presentation & Discussion with The Alzheimer’s Association & Babette Bach, Esq”. This event will take place on March 31st, 2017 from 10:30am to 12:00pm and is presented by the Alzheimer’s Support & Education Network. Please see the event flyer and call 941-364-7508 for more information.
caregiver-education-march-2017
As of June 1, 2016 the Department of Children and Families has amended their Medicaid rules to increase the penalty divisor for uncompensated transfers (i.e. gifting) from $8,346 to $8,662. This new penalty divisor reflects the estimated monthly average cost of skilled nursing home care in the state of Florida. Any transfer for less than fair market value made within 60 months (5 years) of applying for Medicaid will be subject to a penalty. For example, if someone gifted $86,620 within the 60 months, it would result in 10 months of ineligibility for Medicaid.
Anyone who anticipates needing to apply for Medicaid for skilled nursing home care costs should avoid gifting and should not gift without consulting with a board certified elder law attorney. It may be possible to avoid this penalty with good planning.
Contact our office to schedule an initial consultation for any of your Medicaid Planning, Estate Planning, or Veterans Benefits needs.
Babette B. Bach, Esquire, Board Certified Elder Law
Bach & Jacobs, P.A.
240 S. Pineapple Avenue, Suite 700
Sarasota, FL 34236
941-906-1231
941-954-1185 facsimile
www.bachjacobs.com
© 2026 Bach, Jacobs & Byrne, P.A.. Website design & management by 81 & Sunny.
