New York Medicaid Income and Asset Limits

Planning for long-term care is one of the most important steps you can take to protect your family and your financial future. If you or a loved one in New City is considering Medicaid to help with nursing home or in-home care, it’s essential to understand New York’s income and asset limits. These limits determine eligibility for benefits and are crucial to protecting your assets from being depleted by long-term care costs.

CTA: Download the guide and take the first step toward peace of mind.

The Importance of Knowing Medicaid’s Income and Asset Limits

Nursing home care in New York can exceed $150,000 annually, a financial burden most families simply cannot shoulder. Medicaid can provide much-needed relief by covering these costs. However, Medicaid has strict income and asset requirements that vary depending on your marital status and the type of care you need.

Navigating these rules can be overwhelming, especially when additional factors, such as New York’s Medicaid "look-back" period, come into play. This policy allows Medicaid to review five years of financial transactions for institutional nursing home care—or 2.5 years starting in 2025 for community-based care—to ensure no assets were transferred below fair market value​. Violating this rule can result in penalties that delay eligibility.

How Parker Law Firm Helps New City Families Navigate Medicaid

At Parker Law Firm, we understand how intimidating Medicaid planning can be. We work closely with individuals and families to craft personalized strategies that protect assets while ensuring eligibility for benefits. Whether you’re concerned about losing your home, draining savings, or safeguarding retirement accounts, we’ll help you navigate the complex rules of Medicaid.

For example, we use tools like trusts, Medicaid asset protection plans, and spousal planning strategies. One option is a Medicaid Asset Protection Trust (MAPT), which allows you to protect your home and other assets from Medicaid’s estate recovery program while still qualifying for benefits. We also guide married couples through strategies like spousal refusal and income allowances to ensure both spouses are financially secure.

Free Resource: Download Our Medicaid Planning Guide

Understanding New York’s Medicaid eligibility requirements is the first step toward protecting your family’s financial future. That’s why we’re offering a free downloadable guide to Medicaid income and asset limits for 2025. This resource breaks down the essential information you need to know and provides actionable tips to help you start planning today.

Protect Your Assets from the Nursing Home: Speak with a New City Elder Law Attorney

Don’t wait until it’s too late to start planning for long-term care. Medicaid planning can be complex, but you don’t have to face it alone. Parker Law Firm is here to provide compassionate, knowledgeable guidance every step of the way.

Book a call and let us help you protect what matters most—your family, your home, and your future.