By Fredrick P. Niemann, Esq. a New Jersey Alzheimer’s Attorney
Once the husband’s money is spent down to the limit dictated by New Jersey, (i.e. $2,000) a spouse is considered the “community spouse” and she will be entitled to what the law calls a “Minimum Monthly Maintenance Needs Allowance” of at least $1,899 a month. She’ll keep all of her income—whether social security, a pension, whatever. And if her figure is greater than $1,899, she’ll get to keep it all. There is no income limit. If her income is less than the $1,899 she can take a portion of her husband’s income to reach the $1,899 per month income limit. If there’s anything left of his income after planning, minus the cost of his healthcare, the surplus will be paid to the nursing home.
Something else that should be considered—in our example, the total countable assets for our couple. What if the assets in question amount to $200,000? Or $300,000? $500,000? Is the healthy spouse always entitled to half that figure? Or in other words: What’s the total dollar value of all assets the community spouse can keep?
Contact me personally today to discuss your Medicaid/Alzheimer’s matter. I am easy to talk to, very approachable and can offer you practical, legal ways to handle your concerns. You can reach me toll free at (855) 376-5291 or e-mail me at firstname.lastname@example.org.