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…
Tag: Medicaid eligibility
What Is a QIT?
A person must have a gross monthly income of no more than $2,382 in order to qualify for Medicaid assistance to pay for long-term care in New Jersey. If a person has a gross monthly income that is greater than…
Medicaid Changes Penalty for Gifts
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…
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…
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