Medicaid has strict rules with respect to eligibility requirements for assistance to pay for a person’s long-term care. An individual must satisfy the resource and income requirements for Medicaid eligibility. New Jersey requires that an individual’s gross monthly income be…
Tag: Qualified Income Trust
Income Cap Changes for Medicaid
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…
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…
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…
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
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