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
Community Spouse Income and Resource Allowance
What The Community Spouse Can Keep One of the most common concerns that I come across when dealing with clients applying for Medicaid in New Jersey is what will the healthy spouse, or “community spouse” be left with in order to be supported. Will Medicaid take all of our assets? Will Medicaid take all of our income? It is a very
Understanding the Medicaid Resource Limit
When determining if somebody is financially eligible for long term Medicaid benefits in NJ, there are 3 elements considered. Income, resources, and gifting In this article, we are going to focus on the topic of resources. Countable resources include, but are not limited to, Real estate, bank accounts, stocks, annuities and the cash value of life insurance policies. Every situation may be unique