All of these statements regarding Medicaid planning are correct EXCEPT the equity of the principal residence may or may not be a countable asset. the "look back" period for transfers placed in irrevocable trusts is 60 months. the Federal government imposes a uniform asset and income level requirement for the determination of Medicaid eligibility. planning for long-term care using Medicaid is best attempted with a specialist like an elder law attorney or Medicaid planning adviser