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Medicaid: Medicaid Penalty Periods

When applying for institutional Medicaid benefits, the Department of Social Services will examine the prior five years of financial records for the applicant and also for their spouse if they’re married.

The Department of Social Services has a right to ask about any deposits or withdrawals they deem necessary. However, typically they stick to transactions of two thousand dollars or more.

Any withdrawal that is not explained or is uncompensated will be assessed a penalty period that is a period of time that Medicaid will not pay for the cost of care and the individual will be required to pay privately for their own nursing home costs.

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