New Jersey Medicaid – Let’s Talk Assets

New Jersey has two Medicaid programs that cover nursing home care and other waiver programs that cover assisted living and at home care, with slightly different asset limits.  The Medicaid Only  nursing home program has an asset limit of $2000.  The Medically Needy  nursing home program has an asset limit $4000.  The Global Options programs which include the assisted living and at home care programs also have an asset limit of $4000.  The Medicaid applicant, therefore, must have assets no more than $2000/$4000, depending on the program.

Things are bit different, however, if the Medicaid applicant is married.  In the case of a married couple Medicaid views them as one unit.  It doesn’t matter who owns what asset.  They are all examined to determine eligibility.  The non- Medicaid applicant spouse (community spouse) can keep a certain amount of assets, called the Community Spouse Resource Allowance or CSRA.  

Not all assets count towards these limits.  Medicaid puts assets into two categories, countable and no-countable or exempt assets.  More on that tomorrow.