Understanding Medicaid Income Guidelines
Overview To determine if an individual is financially eligible for New Jersey’s long term Medicaid program, Medicaid takes 3 factors into account, the applicants monthly income, the applicants available assets, and Medicaid will execute a 5 year look back to verify that there were no asset transfers for below market value (aka gifting). In this article, we are going to focus
How a Medicaid Penalty Period Works
Understanding How A Medicaid Penalty Works Before we get started with an in depth explanation of a Medicaid penalty, it is important to understand what a Medicaid penalty is. In short, a Medicaid penalty is a period of time that Medicaid will not cover the expenses of long term care, even if the applicant is clinically, and financially eligible. The causes