Medicaid and Medicare

Archive for the ‘Medicaid income eligibility requirements’ Category

The federal Centers for Medicare & Medicaid Services has awarded New Jersey a $4.2 million performance bonus for increasing NJ FamilyCare health insurance enrollment among eligible, uninsured, children in the state, Gov. Jon Corzine announced Thursday.

Only eight other states – Alabama, Alaska, Illinois, Louisiana, Michigan, New Mexico, Oregon and Washington – qualified for the bonus.

“Access to health insurance for children has been a touchstone of my administration,” Corzine said. “This bonus is a much appreciated honor for our state and a testament to the commitment we’ve exercised in insuring more than 100,000 new children over four years.”
“With our governmental and not-for-profit partners, the Department of Human Services has been working incredibly hard to find and insure eligible children using innovative programs, including presumptive eligibility in hospitals and clinics, and school-based outreach facilitators,” Commissioner Jennifer Velez said. “This award proves that, while there are many children still in need of health care coverage, New Jersey is making great headway.”

In order to receive the bonus, the federal CMS rated states on two areas: Implementing at least five of eight specific programs to promote enrollment and retention for children, and increasing enrollment above a formulaic target set by the Children’s Health Insurance Program Reauthorization Act of 2009.

New Jersey exceeded CMS’ minimum requirements by successfully increasing accessibility to children’s enrollment in six program areas: Continuous 12-month eligibility, eliminating the financial asset test, eliminating in-person interview at application and renewal, instituting single, unified, form for application and renewal, instituting automatic verification at renewal, and instituting presumptive eligibility for coverage.

New Jersey also achieved a 4.2 percent enrollment increase above baseline enrollment for federal fiscal year that ended Sept. 30.

Presently, NJ FamilyCare, the state’s program for low-income families, insures more than 614,197 children and provides a free or low-cost health care coverage for income-eligible families. For example, a family of four earning up to $77,175 – or 350 percent of the federal poverty level – can qualify to insure their children for $133 a month in the state- and federally-funded program.

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By Denice Gierach

As published in the Naperville Sun – April 29, 2007

If you have a child with special needs, you understandably worry about taking care of their needs while you are alive, but also after you have died.  A disabled or special needs parent needs to find appropriate care and services, work with the child to obtain independent living skills to the extent possible and protect that child from any harm.  This type of planning involves managing finances and making personal decisions in the event of the disability or death of both parents.  A disabled child may need the parent to make decisions for that child well into adulthood and need to look forward to future residential needs, as well as finding the appropriate caretaker for that child when they are unable to do so.

First, one should note that without appropriate estate planning, the disabled or special needs child will inherit from the parents.  Since the child is not able to manage the financial assets, this would most probably require the court appointment of a guardian.  Such a guardian would have to request for distributions to be made for the benefit of the child and account to the court each year.  In addition, if the child inherits from the parents, the assets that the child is entitled to receive may preclude the child from obtaining certain types of governmental assistance benefits without the assets being spent for their benefit prior to applying for governmental aid programs.

The area of governmental benefit programs is complex, as the child may be entitled to one or more programs and the requirements are different for each type of program.  For instance, unearned income and ownership of assets do not affect eligibility for Social Security and Medicare benefits (when the child is an older adult), but they do for Supplemental Security Income (SSI) and Medicaid.  SSI eligibility is affected not only by cash and checks paid to a child but also by in-kind income in the form of goods and services purchased by third parties.  The goal is to insure that the child is not disqualified from receiving assets place in the child’s name at the parents’ death or disability.

Many parents make use of a discretionary special needs trust.  This trust document is established and funded by the parents and must clearly state that the purpose of the trust is to supplement, not to replace, funds available from governmental and other benefit programs.  The trustee must have complete discretion to use the funds in any way for the beneficiary.  In addition, the child must not have any legal right to access the assets of the trust or the income of the trust.  The trustee chosen must understand the rules concerning the governmental programs, so as to not make a distribution that will adversely impact the child’s eligibility to obtain governmental assistance.

It may also be advisable to obtain a comprehensive professional evaluation of the child’s physical, medical, social, emotional, education and services needs, if one has not yet been done.  This will assist your attorney and financial advisor to refer you to the appropriate case manager or agencies that service children with the particular disability that the child has that will be the most beneficial to the child.

Caring for a disabled child or one with special needs is a 24/7 job.  If you are no longer around to do this job, you should plan ahead to make sure that your child will obtain proper care and be able to live a life that will be the best under the circumstances.

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Medical debts are usually caused during emergency situations. If you become sick or seriously ill then there is a high probability you will be faced with high and unpaid medical bills. In order to get relief from medical debt, you have to know all your options in order to make the right decision at the right time. Therefore, instead of filing for bankruptcy (the worst option), you should seek medical debt relief services or advice. There are different ways you can obtain medical debt relief.

First, you can apply for a medical or debt consolidation loan. This could be a personal loan (uncollateralized) or home equity loan (collateralized). In either case, this loan is taken to pay the medical bills and it carries interest just like any other loan. However, sometimes it becomes difficult to get loans (if you credit is not good or you have no collateral) and you usually you end up paying more in the end of you take out a loan. So, proper care must be taken before seeking the medical loan option.

Another medical debt relief option is to transfer the debt to your credit card. However, if you transfer it to the credit card then you may become ineligible to get medical financial as it does not lower your gross income. Moreover, transferring medical debt to a credit card kills most of your options as now the medical debt becomes credit card debt. Also, the rate of interest is higher in the case of credit cards when compared to leaving the debt with your medical provider or seeking a medical loan.

Negotiation is another option and statistically has been very effective. If you cannot make the required lump sum payment or payment plan given to you, then you can negotiate with the hospital authorities to lower your medical bills and get a better deal. Many times, doctors and hospitals may not want to negotiate with you and therefore your next step is to work with a medical bill negotiation company (find a recommended one below).

You can also contact charity organizations for help. There are organizations that exist which may provide some financial help for you. You can find them online and the recommended site below provides some resource links to them.

Another option is to apply for Federal or State medical financial aid. Before doing that you have to make sure that you are eligible for getting the aid and usually each State’s website explains what eligibility requirements are. Otherwise, it will be a sheer waste of your time. Medical financial aid is provided by the state, mandated by the Federal government through a program called Medicaid.

Whatever option you select, filing a bankruptcy is the last option. This method should be used only when there is no other way to get rid of the medical debt. Your first step before trying to take out a loan, transfer it to a credit card, or apply for Medicaid or contact a charity organization, is to negotiate. You can negotiate yourself, or you can use a medical debt negotiation company. The best medical debt negotiation companies offer a service where you pay nothing unless you sav
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A FHA reverse mortgages are available to homeowners who are at least 62 years of age and who own the home in which they live. This financial product can help seniors who do not have sufficient income to meet their monthly needs, but do have equity in their home. The FHA reverse mortgage works by liquidating that equity in order to eliminate monthly mortgage payments, disburse payments to the homeowner, or both. Provided that the homeowners remain current on their obligations, the homeowner is not required to repay any of the loan balance until they no longer occupy the home.

An FHA Reverse Mortgage Can Make Retirement Comfortable

A common misconception about the FHA reverse mortgage is that homeowners must own their homes free and clear in order to utilize this product. The truth is, one of the main uses of this financial product is to eliminate monthly mortgage payments. Without the burden of monthly mortgage payments, homeowners have extra cash available to help maintain or improve their standard of living. While there are no monthly mortgage payments required, as long as at least one homeowner remains using the home as their primary residence, homeowner’s insurance, real estate taxes, and home repairs continue to be the responsibility of the homeowner.

How Can the Funds from an FHA Reverse Mortgage Be Used?

If the homeowner has enough equity, he or she can not only eliminate monthly mortgage payments, but receive additional funds from the FHA reverse mortgage. The amount of the additional funds will vary based upon the home’s value, homeowners’ ages, and how much equity is available.

The funds can be disbursed in many different ways and tailored to the needs of the borrowers. The different disbursement options include a lump sum, a line of credit, monthly advance, or a combination of these options. The funds received from an FHA reverse mortgage can be used however the homeowners wish. Common uses for the money are to supplement monthly incomes, to finance healthcare, and to eliminate other monthly expenses, but there are absolutely no restrictions on the use of these funds.

Could the FHA Reverse Mortgage Affect my Government Benefits?

Depending on the type of assistance a homeowner receives, an FHA reverse mortgage could affect their eligibility to continue receiving it. Though the existence of the FHA reverse mortgage itself does not affect any eligibility requirements, the funds a homeowner receives from this product could.

If a homeowner receives an entitlement-based benefit, this financial product will not affect their eligibility. Federal entitlement programs in the United States include Social Security and Medicare. These programs are both based upon factors such as the recipients age and job history and, therefore, will never be affected by an FHA reverse mortgage.

Programs such as Medicaid and Supplemental Security Income are considered need based and could be affected by the proceeds from this financial product. In order to be certain that this product will not affect any federal or state benefits, home owners should speak with their caseworkers about the potential implication of receiving money from an FHA reverse mortgage.

An FHA reverse mortgage can help senior homeowners live more comfortably during their retirement. This product can eliminate monthly mortgage payments, as well as provide additional funds to help supplement a fixed income. While this product is certainly not for everyone, seniors who feel they may benefit from this type of loans should speak with a reputable reverse mortgage specialist about their options.