If a person provides gifts within five years of a Medicaid application then he or she will be denied Medicaid assistance for a period of time known as the penalty period. The penalty period is calculated by taking the value…
Author: markelderlaw
Special Needs Trust
A person must own less than $2,000 of resources in order to obtain Medicaid assistance to pay for long-term care. Both federal and state laws prohibit an individual from gifting assets within five years of the Medicaid application in order…
Life Insurance Options
Medicaid considers the cash surrender value of most life insurance policies to be a resource that is subject to the Medicaid spend-down process. A person is not allowed to own more than $2,000.00 of resources in order to qualify for…
Life Insurance and Medicaid
Medicaid considers some life insurance policies to be an asset subject to the spend-down process. According to the New Jersey Medicaid regulations, the first step in analyzing life insurance policies is to determine the face value of all of the…
Medicaid: Date of Check Rule
What happens if a person writes a check towards the end of the month but it is not cashed until the following month? Our New Jersey Medicaid regulations require that an individual own no more than $2,000 of resources as…
