What is Income?
To qualify for institutional - nursing home - Medicaid in New Jersey under its Medicaid Only program, one must have income below what is known as the income cap. This number is indexed for inflation and for 2012 is $2094 per month. It is important to note that income refers
What Exactly is the Medicaid Penalty?
And how can it hurt me? Click on http://www.youtube.com/HauptmanLaw to see my answer.
A Muddy Medicaid Paper Trail Leads to Potential Financial Ruin (Part 2)
Last week we were discussing Gail’s difficulty getting Medicaid for her mom. She had spent down Mom’s assets but because there was not a clear paper trail, Medicaid was approved, but with a 6 month penalty. This meant that Gail would be on the hook for 6 more months of
An Abandoned Safe with $176,000 – Who’s the Rightful Owner?
Estate recovery is the process by which the State can seek reimbursement of Medicaid benefits it has paid during a person’s lifetime from assets of the probate estate after the Medicaid recipient dies. But, if one must spend down to less than $2000 what is left for the state to
Why the Nursing Home Shouldn’t File Your Medicaid Application (Part 1)
Barry called me concerning his dad who is in a nursing facility. He had spent down Dad’s remaining funds. He paid the nursing home and set up a prepaid irrevocable burial trust as permitted by Medicaid. The facility said they would file the Medicaid application so Barry gave them all
Mom Has $1,000,000 – She’ll Never Run Out of Money (Part 2)
Last week we were discussing Paul’s mom, 88 years old and in need of nursing home care. She has $1,000,000 in assets so first impressions suggest that she won’t ever need Medicaid. But, upon further examination, we might want to reconsider that conclusion. Here’s why. Paul’s initial statement about never qualifying,
Mom Has $1,000,000. She’ll Never Run Out of Money (Part 1)
Paul called concerning his 88 year old mother who needs nursing home care. “She doesn’t have a power of attorney. I think she needs one”, he said. I concurred but our conversation didn’t stop there. As we always do, I asked him about Mom’s finances. “Her income consists of Social
No Luck with Medicaid? VA to the Rescue
Karl had been in an assisted living facility for several years and doing well there. His family felt fortunate. Although Karl didn’t have much in the way of assets he did have income from Social Security and a pension, totaling $5000. He also had a long term care insurance policy
Will I Be Responsible for My Parents’ Nursing Care?
That’s a question of real concern for many and one we are hearing more about as the population ages, increasing the number of Americans needing long term care, and federal and state budget deficits continue to grow. Can nursing homes pursue children for unpaid nursing home bills? Can the State deny
A Long Term Care Story Close to Home
Many of the stories I tell are from clients and prospects that call our office. This one is more personal, about our marketing director, Amy’s grandparents, Julius and Julia. Julius was a World War II veteran who died in 1986. Julia lived independently until 2003, when at age 83 she