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Category Archives: Non – Countable Liquid Assets

New: New Jersey Medicaid Metrics for 2015

Date - 5th Jan, 2015   |   Time - 5:54   |   Author - Senior-Planning

Happy New Years to all! Below please find new New Jersey Medicaid Metrics for 2015.   The Income Limit: $2,199.00. The Asset Limit: $2,000.00 The Maximum Community Spouse Resource Allowance:  $119,220.00. The Minimum Community Spouse Resource Allowance:  $23,844.00. The Maximum Monthly Maintenance Needs Allowance: $2,980.50. The Minimum Monthly Maintenance Needs Allowance: $1,966.25. The Monthly Personal Needs Allowance (PNA) for a Nursing Home: […]

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Understanding Life Insurance Policies And How They Relate To Medicaid

Date - 3rd Dec, 2014   |   Time - 7:49   |   Author - Senior-Planning

Understanding Life Insurance Policies And How They Relate To Medicaid When an individual is applying for Medicaid and has assets that exceed Medicaid’s resource limit, a Medicaid spend-down is necessary. Assets in excess of the allowable amount must be spent down in order to achieve financial eligibility. Some kinds of life insurance policies are included […]

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Utilizing A Special Needs Trust With The Excess “Spend-Down” Money

Date - 24th Nov, 2014   |   Time - 6:09   |   Author - Senior-Planning

In order for an individual to be eligible for Medicaid, there are financial standards that need to be met. Many Medicaid applicants will have to spend some of their assets in order to meet Medicaid’s financial threshold. There are a few excludable resources that are exempt from the Medicaid spend down. These assets can be […]

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Can the Community spouse keep the home when the second spouse is getting onto Medicaid?

Date - 17th Sep, 2014   |   Time - 12:10   |   Author - Senior-Planning

I recently received a call from Samantha who posed a question to me. What would happen to her home should her husband, Nicholas be approved for the Medicaid benefit? Samantha and Nicholas have been married for fifty-three years. Nicholas was a former general contractor and Samantha was a teacher. They were hardworking individuals who extended […]

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Mom is applying for Medicaid – Can her daughter keep the house?

Date - 27th Aug, 2014   |   Time - 12:01   |   Author - Senior-Planning

Lisa grew up in Parsippany, NJ after graduating college she was offered a great position in a large accounting firm in NYC. She chose to move to the city and devoted most of her time to her job. After working at the firm for a number of years, Lisa had worked herself up and established a large […]

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New Jersey Medicaid Income and Resources

Date - 17th Jun, 2014   |   Time - 6:24   |   Author - Senior-Planning

By Neil Stern People everywhere are worried about their finances. For one group, facing financial uncertainties may be even more daunting then for most. I am referring to senior citizens. As we know, the cost of long term care is on the rise. Unfortunately, the group of people who are most affected by these rising […]

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