What is Medicaid and how to apply?

Maybe you haven’t been the best planner for the senior years or maybe life threw you a couple curve balls and you had to exhaust all your savings that you did have.  Presently you are working but only going to be collecting approximately 1500.00 from social security,  and you collect no pension so you panic a little just wondering how you will manage your health care needs now and in the future.  Since you have to pay for Medicare and a prescription plan you really can’t afford a supplement plan.  Since Medicare will only pay 80% of the allowed amount you will be responsible for the other 20%.  So if you happen to fall into this category you may want to apply for Medicaid.

Medicaid is a state and federally funded health insurance program that provides coverage for people who are aged, blind or disabled.  It pays for hospital, doctor appointments, prescriptions, home care, assisted living and nursing homes depending on what you qualify for.  It is not an easy process and there is a lot of paperwork involved but a solution for healthcare for those in need.

Medicaid has very strict eligibility requirements varying state to state.  In New Jersey:

•  You must be a resident of New Jersey
•  You must be a United States citizen
• Financial eligibility is for single and over 65 you can not make over $2523 per month
• You must be a family with dependent children, over 65 years of age,  blind,  disabled or pregnant.
• There is also an asset limit for singles of 2,000.  The exceptions include your car, burial trust, one’s home, personal belongings and household furnishings.

Medicaid has a 5 year look back on all documentation you provide to them for approval.  My best advice would be to seek the professional advice of an elder care attorney before you have to start the process.  Once ready to apply for Medicaid you can go to: www.njfamilycare.org. 

There is a very useful checklist on the NJ Family care website called the  ABD checklist.  This will assist you with what you need to have in your possession when applying.  Once you have filled out the application the state will follow up with you within a few weeks and give you instructions on how to move forward.