Medicaid

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…

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…

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…

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…

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…

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…