United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2005-09-02 monographic deposited born digital 52 p. GA 1.13:GAO-05-968 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-968 P0b002ee18038a292 f:d05968 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-05-968 machine generated eng fdlp REPORT GAOREPORTS-GAO-05-968 GAO-05-968 Assets Elderly persons Eligibility criteria Eligibility determinations Health care programs Income statistics Long-term care Medicaid Strategic planning Other Written Product A35540 In fiscal year 2004, the Medicaid program financed about $93 billion for long-term care services. To qualify for Medicaid, individuals' assets (income and resources) must be below certain limits. Because long-term care services can be costly, those who pay privately may quickly deplete their assets and become eligible for Medicaid. In some cases, individuals might transfer assets to spouses or other family members to become financially eligible for Medicaid. Those who transfer assets for less than fair market value may be subject to a penalty period that can delay their eligibility for Medicaid. GAO was asked to provide data on transfers of assets. GAO reviewed (1) the level of assets held and transferred by the elderly, (2) methods used to transfer assets that may result in penalties, (3) how states determined financial eligibility for Medicaid long-term care, and (4) guidance the Centers for Medicare & Medicaid Services (CMS) has provided states regarding the treatment of asset transfers. GAO analyzed data on levels of assets and cash transfers made by the elderly from the 2002 Health and Retirement Study (HRS), a national panel survey; analyzed states' Medicaid applications; and interviewed officials from nine states about their eligibility determination processes. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-968/html/GAOREPORTS-GAO-05-968.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-968/pdf/GAOREPORTS-GAO-05-968.pdf GAO-05-968 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-968 Other Written Product GAO-05-968; Medicaid: Transfers of Assets by Elderly Individuals to Obtain Long-Term Care Coverage; Assets Elderly persons Eligibility criteria Eligibility determinations Health care programs Income statistics Long-term care Medicaid Strategic planning Volume 86 Page 1329 86 Stat. 1329 Volume 107 Page 312 107 Stat. 312 Public Law 92-603 Public Law 103-66