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Medicaid

Category: Medicaid

New Jersey Medicaid Divisor Increased!!!

WHAT IS THE PENALTY PERIOD DIVISOR? The penalty period divisor is used when calculating penalty periods that a Medicaid Applicant may incur due to gifting or transferring of assets during the 5-year look back period for New Jersey’s Medicaid’s Managed

The Importance of Medicaid Planning

During these unprecedented times, it is more important than ever to do Long-Term Care (Medicaid) Planning.  This is especially true if you have health issues or if you have limited assets and worry you may face a long-term care crisis

Medicaid-Complaint Annuities

A Medicaid-Complaint Annuity (“MCA”) is a single premium immediate fixed annuity that allows Medicaid applicants to convert a non-exempt asset into an income stream to provide immediate Medicaid eligibility. The Medicaid Rule:  An individual must “spend down” assets to less

Medicaid Nightmare; It’s not just during Halloween

In anticipation of Halloween, I want to tell you a scary Medicaid story that affected my client.  MEDICAID RULES When one spouse requires long-term care, the federal Medicaid program allows the healthy spouse certain options to avoid impoverishment.  The ill

Medicaid Pitfalls

Below is a list of a few Medicaid pitfalls: Paying for care without proper documentation As our loved ones age, we begin to realize that they need help at home. There are over one thousand home care agencies in New

Medicaid Penalty Divisor Increases

The New Jersey Medicaid Penalty Divisor increased from $357.67 to $361.20. Why is this important to families who are applying for Medicaid now or who may apply in the next five years? First, we must answer the question: What is

Can You Get Penalized by Medicaid For Normal Expenses?

medicaid penalties in new jersey

People are often surprised to learn that Medicaid imposes a penalty period for assets transferred in the five years immediately preceding the date of the Medicaid application. A penalty period is defined as a period of time that a person

Understanding Medicaid Transfer Penalties

Lawyer reviewing paperwork with another individual

In order for the State of New Jersey to prevent Medicaid applicants from gifting assets to qualify for Medicaid earlier, the state institutes a transfer penalty.  The penalty is determined by adding up all “transfers” of assets not used exclusively

Medicaid Penalties to Be Aware of in New Jersey

medicaid penalties in new jersey

Understand how the look-back period and asset limits can affect you when applying for Medicaid in New Jersey Many people living in New Jersey may find that they’ll need Medicaid or Managed Long-Term Services and Supports (MLTSS) care as they

Medicaid and MLTSS in New Jersey

Medicaid and MLTSS in New Jersey njelc

It’s important to understand the laws in New Jersey and how seniors have been affected Medicaid is a federal government health coverage program that is administered at the state level. It requires that applicants meet certain eligibility requirements and guidelines.

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