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The Medicaid program provides essential healthcare coverage for millions of Americans, especially seniors requiring long-term care. However, many are concerned about the implications of Medicaid estate recovery and the possibility of losing their homes. This article...
If you or a loved one requires long-term care, the cost can quickly become overwhelming. Medicaid, a federal and state program that helps cover these expenses, can be a financial lifesaver for New Jersey residents. However, qualifying for coverage isn’t simple,...
Medicaid plays a crucial role in covering the costs of long-term care, especially for the elderly and disabled. A recent update from the New Jersey Department of Medical Assistance and Health Services has brought significant changes to the penalty divisor—a key...
As of April 1, 2024, the New Jersey Department of Human Services, Division of Medical Assistance and Health Services has increased the Medicaid penalty divisor from $384.57 to $440.10 per day[1]. This change affects individuals applying for Long Term Services and...
What is a Medicaid Compliant Annuity? A Medicaid compliant annuity is a specialized financial product designed to help individuals qualify for Medicaid coverage while preserving a portion of their assets. As the costs of long-term care and nursing home stays continue...
Understanding Medicaid Planning What is Medicaid Planning? Medicaid planning is a crucial process for individuals and families navigating the complexities of long-term care and the financial challenges that accompany aging. It involves legal and financial strategies...
The cost of a stay in a New Jersey nursing home can run anywhere between $125,000.00 and $150,000.00 per year. The primary payer for this is Medicaid. Medicaid, unlike Medicare is a welfare program, which covers the medical needs of New Jersey residents over 65, blind...