In a move that may change the number of people going about Medicaid planning, Governor Chris Christie recently decided to use available federal funds in order to expand Medicaid. That decision is expected to3 save the state $227 million a year by enrolling 104,000 low-income people into the government health care program.
New Jersey could earn as much as $15 billion in reimbursements over the next nine years if all 300,000 low-income residents eligible for the program enroll. The expansion, according to Christie, targets very low-income adults who’ve never qualified for Medicaid before because they are childless. These people are the ones, he said, who consistently need help the most.
According to a recent poll taken by the Fairleigh Dickinson University PublicMind, 69 percent of New Jersey resident’s support the governor’s decision to expand the program. The decision did anger some conservatives, but Christie’s approval rating is still strong, remaining around 66 percent. That is down from a high of 77 percent back in November during Hurricane Sandy.
Medicaid planning, as our readers may know, is an important process to engage in for those who ride the line eligibility line for Medicaid. Getting one’s assets down low enough to qualify may be easy enough, but it can be trickier when trying to avoid the possibility of transfer of asset penalties.
Working with a Medicaid planner is important in avoiding these penalties and maximizing one’s chances of eligibility. Doing so can ensure that one’s wealth doesn’t go toward paying expensive nursing home bills, and that more is passed on to heirs.
Source: nj.com, “Poll: N.J. residents support Christie’s decision to expand Medicaid,” Matt Friedman, March 12, 2013