According to the New Jersey Medicaid regulations, an individual is not allowed to own more than $2,000.00 of resources. A resource includes any bank accounts, checking accounts or other investments that are in the control and accessible to that person. …
Read More Custodial Accounts for Minors Should Be Exempt from Medicaid
When a spouse enters into a long-term care facility, the cost of that care can be catastrophic. Fortunately, there are federal laws that protect the healthier spouse from being impoverished. According to the federal statute, there are two important dates…
Read More Medicaid Has Two Snap-shot Dates for a Married Couple
Many Medicaid applications in New Jersey are denied by the County Board of Social Services for failure to produce documents. It is often difficult to obtain voluminous financial records covering the five year look-back period. Based upon recent revisions that…
When gifts are provided within the Medicaid five year look-back period, the County Board of Social Services will impose a period of ineligibility for assistance. This is known as the Medicaid penalty period. The duration of the penalty period is…
In order to qualify for Medicaid assistance, an individual’s gross monthly income must be less than the Medicaid income cap. If a person’s gross monthly income is greater than the Medicaid income cap then he or she will not qualify…
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