Posted by: Susan Green
On January 1, 2009, the Centers for Medicare and Medicaid Services (CMS) gave the New Jersey Department of Health and Senior Services (DHSS) approval to consolidate three Medicaid Waiver programs (Assisted Living/Adult Family Care (AL/AFC), Caregiver Assistance Program (CAP), and Community Care Program for the Elderly and Disabled (CCPED)) into one program called Global Options for Long Term Care (GO). Since this consolidation, at least 20% more participants have been served. Further, the average annual cost of GO is roughly two-thirds less than a nursing facility. GO is for individuals who are eligible for a nursing facility level of care, [...]
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Filed under Medicaid Planning, Medicaid Planning.
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Posted by: Susan Green
Bank Accounts The Federal Deposit Credit Union (FDIC) and the National Credit Union Share Insurance Fund (NCUSIF) insure banks and federally-insured credit unions, respectively. The FDIC, established in 1933 as an independent agency, insures all deposit accounts, including checking and savings accounts, money market deposit accounts, and certificates of deposit, placed in banks and savings associations, but it does not cover stocks, bonds, mutual fund shares, life insurance policies, annuities, or securities. If a member bank fails, the FDIC insures all depositors at that institution against loss up to a certain dollar limit. The current standard FDIC insurance amount is [...]
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Filed under Estate and Trust Administration, Estate Planning, Estate Planning, Guardianship, Medicaid Planning, Medicaid Planning, Special Needs Trusts, Special Needs Trusts.
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Posted by: Begley Law Group
Case Study 1: Private funds exhausted – Medicaid denied Bill has been a resident at the Forget-Me-Not Nursing Home for 18 months. After 12 months, Bill’s private pay funds were exhausted and the Medicaid coordinator at the nursing home filed an application on his behalf. Bill’s wife, Linda, was not cooperative in providing the required financial information. Medicaid eventually dismissed the application because it was incomplete. By the time all the necessary information was finally obtained, and the application was re-filed, the nursing home had lost six months of revenue, totaling $60,000, and its cash flow had been interrupted for 12 months. Case Study [...]
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Filed under Medicaid Applications, Medicaid Planning, Medicaid Planning, Special Reports.
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Posted by: Thomas D. Begley, Jr.
If an SSI recipient or spouse of an SSI recipient disposes of resources for less than fair market value during a 36-month look back period,1 the individual is ineligible for benefits for a period of time. The period is calculated by dividing the uncompensated value of the transfer by the amount of the maximum monthly benefit payable, including any state supplement.2 The penalty is rounded to the nearest whole number with a cap of 36 months.3 The penalty begins the first month in or after which resources were transferred which does not occur during any other period of ineligibility.4 [...]
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Filed under Library, Medicaid Planning, Medicaid Planning.
Tags: Medicaid Planning, SSI
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Posted by: Thomas D. Begley, Jr.
There are a great many public benefit numbers and tax numbers that are adjusted on an annual basis. This chapter is designed to make these numbers readily available to Elder Law practitioners. The following are current numbers for 2012. I. 2012 FIGURES A. Medicaid $2,094 Income Cap[1] $113,640 Maximum Community Spouse Resource Allowance (CSRA)[2] $22,728 Minimum CSRA[3] $2,841 Maximum Minimum Monthly Maintenance Needs Allowance[4] (MMMNA) $1,891.25 MMMNA (July 1, 2012 until June 30, 2013)[5] $567.37 Excess Shelter Allowance (July 1, 2012 until June 30, 2013)[6] $2,000 Maximum Resource Limit (individual)[7] [...]
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Filed under Library, Medicaid Applications, Medicaid Planning, Medicaid Planning, Personal Injury Consulting.
Tags: Medicaid Applications, Medicaid Planning, Personal Injury Consulting, SSI
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Posted by: Thomas D. Begley, Jr.
In 1988, Congress passed the Medicare Catastrophic Coverage Act (MCCA). Pub. L. No. 100-360 codified at 42 U.S.C. § 1396p(c) as amended by 42 U.S.C. § 1396r-5. Provisions of this Act were designed to avoid impoverishing the community spouse. For example, since October 1, 1989, the income of the community spouse is no longer deemed available to the institutionalized spouse at any time for the cost of care. In addition, the community spouse is entitled to a Minimum Monthly Maintenance Needs Allowance (MMMNA), which may come in whole or in part from the income [...]
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Filed under Library, Medicaid Planning, Medicaid Planning.
Tags: Medicaid Planning
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Posted by: Susan Green
An important issue in New Jersey probate litigation for the past two decades has been whether or not guardians can undertake Medicaid planning on behalf of their wards. Since 1995, many Courts in New Jersey have begun to permit guardians to transfer assets in order to expedite his or her ward’s eligibility for Medicaid benefits. For several years, no statute or regulation existed to authorize this planning, nor was there any written opinion from the Appellate Division or state Supreme Court to provide direction to the Superior Courts. Fortunately, New Jersey courts have rendered decisions over the past few years, [...]
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Filed under Medicaid Planning, Medicaid Planning.
Tags: Medicaid Planning
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Posted by: Begley Law Group
The previous blog discussed the importance of ensuring that plaintiffs in personal injury lawsuits obtain the best possible medical coverage. This blog continues the discussion and focuses on other medical insurance that may be available. This includes: • Medicare. A person receiving SSDI for two years will receive Medicare. It is important to obtain a Medicare supplement, if at all possible. There is an open enrollment period for Medicare supplements for six months after the Medicare recipient obtains Medicare Part B. Another option is to enroll in a Medicare Advantage Plan. There is an open enrollment period for Medicare Advantage [...]
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Filed under Medicaid Applications, Medicaid Planning, Medicaid Planning.
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Posted by: Begley Law Group
The current federal Medicaid statute has been in effect since 1989.[1] Generally, the statute provides that if an individual makes an uncompensated transfer of resources, the value of those resources are divided by the average monthly cost of a nursing home and the resulting quotient is the number of months during which the applicant will be ineligible for Medicaid benefits.[2] The statute further provides that “an individual shall not be ineligible for medical assistance by reason of [the transfer penalty rules] to the extent that…the assets were transferred to, or to a trust…established solely for the benefit of the individual’s [...]
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Filed under E-Lerts, Medicaid Planning.
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Posted by: Thomas D. Begley, Jr.
Introduction Continuing Care Retirement Communities (CCRCs) are an excellent alternative for long term care for the middle and upper middle income population. These facilities offer residents an active lifestyle with many friends and plenty of activities. In fact, most people enter CCRCs close to their home and know a certain number of residents upon admission. A good CCRC can provide an excellent lifestyle for senior citizens. The person to whom the CCRC appeals is an adult who wants recreation and activities, wants to know that his health care costs are covered at a fairly foreseeable fixed fee, and wants daily [...]
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Filed under Medicaid Planning, Medicaid Planning.
Tags: Medicaid Planning
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