What is the Medicaid “look back

Medicaid is designed to pay for long-term care once you run out of money. You are expected to use your savings to pay for your care. Once your savings are gone, then Medicaid will kick in.

You can protect some of your money by gifting to loved ones, but understand that Medicaid will penalize you for any gifts or transfers of assets made 5 years from the date of your Medicaid application.


Because the State of Connecticut doesn’t want you to simply give away all of your assets and say “Look at me, Medicaid! I’m broke and need your assistance.”

Before being approved for Medicaid, the Connecticut Department of Social Services (they manage Medicaid) asks you to show 5 years of financial statements for all accounts including checking, savings, money market, stocks, bonds, CDs, retirement accounts, annuities, trusts, cash value in life insurance policies, and others.

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