No. But the date of eligibility will usually be the date on which the assets fall below the appropriate threshold. That said, sometimes the date can be earlier. For instance, if part of the spend down is to pay for outstanding medical bills or to prepay a funeral, it may be possible to get an earlier date of eligibility.
Harry S. Margolis practices elder law, estate, and special needs planning in Boston and Wellesley, Massachusetts. He is the founder of ElderLawAnswers.com and answers consumer questions about estate planning issues here and at AskHarry.info.