There are three requirements to obtain Medicaid assistance to pay for long-term care. A person must be in clinical need of Medicaid, satisfy the resource requirements and have an income that is less than the income cap. If a person has a gross monthly income that is greater than the income cap then he or she will not qualify for Medicaid unless their income is deposited into a Qualified Income Trust, also known as a QIT.
Prior to 2021 the income cap in New Jersey was $2,349.00. The income cap is based upon the maximum monthly benefit for an individual who receives Supplemental Security Income, also known as SSI. The maximum monthly SSI benefit in 2020 was $783.00.
In 2021, the maximum monthly SSI benefit is $794.00. Therefore, the Medicaid income cap is now $2,382.00. This is three times the amount of the maximum monthly SSI benefit.
In summary, a person is not allowed to have a gross monthly income in excess of $2,382.00 in order to qualify for Medicaid. If that person does have excess income then he or she must establish a QIT in order to acquire Medicaid assistance.
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