Bill > S2450

This bill amends New Jersey law to eliminate penalties for individuals seeking Medicaid long-term care services who transfer assets totaling $6,000 or less within a calendar year during the "look-back period." The look-back period is a timeframe before applying for Medicaid during which the state reviews asset transfers to prevent people from giving away assets to qualify for benefits they wouldn't otherwise be eligible for. This change means that transferring up to $500 per month, totaling $6,000 annually, will no longer result in a period of ineligibility for Medicaid nursing facility services or home and community-based services. The bill also requires the Commissioner of Human Services to seek federal approval for these changes and to adopt necessary regulations.