| Transfer of Assets - NJ Medicaid Asset Transfer for Medicaid in New Jersey (Section 1917(c) of the Social Security Act; U.S. Code Reference 42 U.S.C. 1396p(c)) |
These provisions apply when assets are transferred by individuals
in long-term care facilities or receiving home and community-based waiver
services, or by their spouses, or someone else acting on their behalf. At state
option, these provisions can also apply to various other eligibility groups.
States such as New Jersey can "look back" to find
transfers of assets for 5 years prior to the date the individual is
institutionalized or, if later, the date he or she applies for Medicaid.
For certain trusts, this look-back period extends to 60 months.
If a Medicaid triggered transfer of assets for less than
fair market value is found, New
Jersey must withhold payment for nursing facility
care (and certain other long-term care services) for a period of time referred
to as the penalty period.
The length of the penalty period is determined by dividing the
value of the transferred asset by the average monthly private-pay rate for
nursing facility care in the State. The
calculation of penalty periods is complicated and requires professional
advice. Contact Fredrick P. Niemann at (888) 800-7442
or fniemann@hnlawfirm.com
for answers, including eligibility for Medicaid for long term care at home or
at a licensed NJ nursing home or assisted living residence.
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TESTIMONIALS
I
knew I needed an attorney, but could I afford one? Would he or she be
experienced and someone I could trust and talk to openly and in confidence?
I was
referred to Fredrick P. Niemann. I was warmly greeted and my appointment
promptly kept. I was given all the time I needed to ask questions and talk
about my needs and concerns. I was quoted a fee that was appropriate and
reasonable for my matter. My attorney gave me answers and advice. He was a
counselor at law and in life. Calling Hanlon Niemann was the right decision.
—Nick Alfano, Morganville,
NJ
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Example: A transferred asset worth $90,000, divided by a $7,872
average monthly private-pay rate, results in a 30-month penalty period. There
is no limit to the length of the penalty period. CONTACT US FOR MORE
INFORMATION
For certain types of transfers, these penalties are not applied.
The principal exceptions are:
·
Transfers to a spouse, or to a third party for the sole benefit of
the spouse;
·
Transfers by a spouse to a third party for the sole benefit of the
spouse;
· Transfers to certain disabled individuals, or to trusts
established for those individuals;
· Transfers for a purpose other than to qualify for Medicaid; and "Transfers
where imposing a penalty would cause undue hardship.
Medicaid
Attorneys serving these New Jersey Counties:
Monmouth County,
Ocean County, Essex County, Cape May County, Mercer
County, Middlesex County, Bergen County, Morris County, Burlington County,
Union County, Somerset County, Hudson County, Passaic County
