What is the 5 Year Rule for Medicaid
Too many times Americans have found out the awful reality of their existence, that the corporate greed and corruption of a based society is there only to use them as farm implements, directing their meager wealth into the large collection pots of the ultra-rich. This system has come about not because of some nefarious undercurrent of social infiltration, but simply through the ignorance and blind laziness of the populace. By allowing trusted politicians to make the best decision presumably in the best interests of their constituents, the course for freedom and liberty have waned to a point where only a majority-poor population will sustain the government. This means even social programs like Medicaid are culprits in reducing the personal wealth of the base. So, what is the 5 year rule for Medicaid?
What is the 5 Year Rule for Medicaid?
So, what is the 5 year rule for Medicaid? It is the legal allowance that lets the system refer back five years on your tax returns and financial statements to ensure you haven’t hidden anything away from them. To get around this, you will need to make your plans for a secure retirement from cash well in advance of filing for Medicaid. You will need to do this before the age of 60, or wait until you want to retire later.
5 Year Lookback Rule IRS
The 5 year lookback rule IRS established is designed to catch all of the assets you half-heartedly tried to hide but didn’t know how. Speak with a tax accountant to get your ducks in a row earlier.
Medicaid Lookback Penalty
If you get caught up with a Medicaid lookback penalty, your best bet is to liquidate all of your assets and plan on living off of the cash rather than recordable assets.
How to Avoid Medicaid 5 Year Lookback
So, what is the 5 year rule for Medicaid, and how to avoid Medicaid 5 year lookback? This double conundrum is a critical pillar in the false support given to socialized medicine. Everyone thinks socialism is bad but seem to neglect to actually use a dictionary to look it up. Had people paid attention in school, they would have realized that the socialism of a society is based on bettering it for all, as in, we the people. Politicians are afraid that the consumers will wake up and realize that this is what they want, instead hankering back to a false history of communism and anarchy. The time for change has come, but unfortunately the populace isn’t educated enough to take the first step.
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