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…
Tag: monthly income
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…
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Income Cap Changes for 2020
Medicaid is the only government long-term care insurance program. Each of the 50 states, as well as Washington, D.C., has Medicaid to help individuals pay for their long-term care needs at home, in an assisted living facility and a nursing…
Law Office of Donald B. Mark 