Posts Tagged ‘NYS Budget’

Just in: NYS Budget Affects Medicaid Recipients

The NYS Budget for 2011 has been passed.  According to the information we just received, there is one significant change that will affect many Medicaid recipients. The budget includes a provision for a regulation which will expand the assets from which Medicaid may recover its costs on the death of a Medicaid recipient. These newly recoverable assets may include  life estates, joint accounts and revocable and irrevocable trusts. More details will follow as we get more information.

The good news, if there is any, is that according to our current understanding, this provision is the only change in the new budget affecting Medicaid applicants and recipients.