#MedicaidXPress #ApplyingforMedicaid The look back period. You may have heard this statement before especially if you have inquired about applying for Mediciad. Basically any transfers of assets for less than fair market value for the 3-5 years prior to obtaining Medicaid are subject to possible penalty period. One of the most common problems I run into when talking with my Medicaid applicants is that they have no idea what their elderly parent or relative spends their money