State toughens assets requirements for Medicaid long-term care

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The governor of Wyoming has signed legislation expanding the definition of assets, making it more difficult for nursing home residents to quality for long-term care under Medicaid.

State residents with home equity equal to or greater than $500,000 are ineligible for long-term care under Medicaid under the new law that takes effect July 1.

The law approved by Gov. Dave Freudenthal (D) also extends the "look-back" period to five years from three for transfers of assets affecting eligibility.