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…
Tag: monthly income
Law Increases Maximum Support for a Spouse
Medicaid normally requires that a person’s income be used to offset the cost of long-term care in a facility. Virtually all of that person’s income must be paid to the facility each month. Medicaid then pays the balance of that…
New Medicaid Income Cap for 2021
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…
Medicaid Laws Change on July 1, 2020
Most nursing homes in New Jersey charge at least $130,000 per year for a basic semi-private room. Medicaid will help pay for that person’s care but only after their assets and life savings have been depleted. If a spouse is…
Additional Rules Concerning a Qualified Income Trust
New Jersey permits a person to reduce his or her monthly income below the Medicaid income cap through the use of a Qualified Income Trust, also known as a QIT. There are legal requirements, however, for the establishment of a…
Read More Additional Rules Concerning a Qualified Income Trust
