ADMISSION AGREEMENTS FOR LONG-TERM CARE FACILITIES BE CAREFUL WHEN SIGNING
by Marianne Johnston, Esquire The placement of a loved one in a care facility is often an emotional time. There is so much to think about – Is this the right place? Is the staff kind? Will Mom receive quality medical care? Will Dad like the food? Amid this often hectic environment, the family…
New Jersey Announces Increase in Medicaid Penalty Divisor Effective April 1, 2024
by Marianne Johnston, Esq. On March 26, 2024, the New Jersey Department of Human Services, Division of Medical Assistance and Health Services (DMAHS) announced an increase in the Medicaid penalty divisor from $384.57 to $440.10. What does this mean? If an applicant for long-term care Medicaid benefits transfers assets within five-years of applying, a penalty…
LONG-TERM CARE PLANNING STRATEGIES WITH LIFE INSURANCE
by Marianne Johnston, Esquire When planning for long-term care cost, certain actions should be taken regarding life insurance policies. Life insurance with a cash value is a countable asset when determining eligibility for Medicaid benefits. The only exception is if the face value of the policy is $1,500 or less. Term life insurance and…
ASSET PROTECTION PLANNING IN GUARDIANSHIP CASES
by Marianne Johnston, Esquire We advise our clients on how they may protect their assets from the costs of long-term care. But what if an individual has been found incapacitated and has a court-appointed guardian? “Concepts of equal protection and inherent fairness dictate that an incompetent person should be given the same opportunity to…