How Does New Jersey Calculate Medicaid’s Snapshot Amount?

Medicaid divides the countable assets on the snapshot date by two, allowing the Community Spouse to keep one half of the overall countable assets up to the maximum (in 2012) of $113,640.  The institutionalized spouse (Medicaid applicant can keep no more than $2,000 or $4,000, depending on the Medicaid program being applied for.  For example, if on the snapshot date the couple has $227,280, then the community spouse may keep $113,640, plus the institutionalized spouse’s $2,000/$4,000.