Medicaid planning in New Jersey: Explaining key details

Medicaid is a health care program funded by the federal government and state governments. It offers low-cost/free health care services for low-income families, individuals with difficulties, and older adults. Because of the nature of the program, it can be hard to qualify for Medicaid if you have considerable assets. Most people need to rearrange their assets before they can qualify for the program. Each person’s situation is unique, and it is best to talk to a Medicaid planning attorney New Jersey to know better. Here are some key aspects worth knowing. 

The basics

The basic guidelines for Medicaid are set by the federal government, but the state governments manage respective programs. The coverage can vary by state, and so can eligibility. Medicaid is typically available for select groups of people, including disabled individuals, pregnant women, children from low-income households, and older people over 65. The income and assets of a person are key pointers for Medicaid eligibility. Some states have expanded their program, allowing more people to benefit from Medicaid. 

The coverage

Medicaid covers care at health clinics that are a part of the program. It also covers home health services, hospitalization costs, cost of lab tests, cost of nurse-midwife during pregnancy, and transportation to health care facilities. Many states offer more coverage through their Medicaid programs, and one could also get benefits like glasses, hearing aids, and cancer screenings. Medicaid, of course, also covers long-term care for seniors. 

Medicaid planning

No one wants to lose everything they own to qualify for Medicaid benefits. However, rearranging assets and estate planning are needed in most cases. You need to talk to an elder law or estate planning lawyer to understand how you can qualify for Medicaid. It is also possible to qualify for Medicaid if your spouse has assets. It all depends on your circumstances, and the best idea is to seek legal advice in time. You should consider your estate plan and other details in advance before you or your spouse needs long-term care. 

The experience and expertise of a Medicaid planning lawyer can help you understand NJ’s key rules and requirements. Your lawyer can also help you save money by avoiding mistakes that can negatively impact your Medicaid claim. If your Medicaid claim has been denied, your lawyer can appeal against that. There is no reason to avoid discussing your estate and the possible need for Medicaid in the future with an attorney.