N.J. Admin. Code § 10:52-11.10

Current through Register Vol. 56, No. 11, June 3, 2024

Section 10:52-11.10 - Assets eligibility criteria

(a) An applicant shall provide proof that:

1. His or her individual assets as of the date of service do not exceed $ 7,500; and

2. His or her family's assets, if applicable, do not exceed $ 15,000 as of the date of service.

(b) Family members whose assets must be considered are all legally responsible individuals as defined in 10:52-11.8(a).

(c) Assets, as used in this section, are items which are, or which can be readily converted into, cash. This includes, but is not limited to, cash, savings and checking accounts, certificates of deposit, treasury bills, negotiable paper, corporate stocks and bonds, Individual Retirement Accounts (IRAs), trust funds, and equity in real estate other than the applicant's or family's, if applicable, primary residence. A primary residence, for purposes of charity care, is defined as a structure within which the applicant currently lives. If an applicant jointly owns assets with another person(s), for whom the applicant is not legally responsible, the value of these assets shall be prorated equally among all the owners.

(d) The applicant shall document the value of all applicable assets as described in (d)1 through 3 below. Paragraph (d)3 below represents alternative documentation as described in 10:52-11.8.

1. The applicant shall present the hospital with a statement from a bank or other applicable financial institution showing the value of the asset(s) as of the date of service. If an applicant has no assets, he or she may sign an attestation to that effect, and this fulfills the requirement for proof of assets. If the applicant is unable to obtain such documentation, the hospital staff shall document, in writing, the reason why the proof could not be provided, and request proof of assets as described in (d)2 below.

2. The applicant shall provide the hospital with a statement from the bank or other applicable financial institution showing the average daily balance of the asset(s) within one month of the date of service. If the applicant is unable to obtain such documentation, the hospital staff shall document, in writing, the reason why the proof could not be provided, and request proof of assets as described in (d)3 below.

3. The applicant shall present the hospital with a signed statement attesting to the type and value of the assets.

(e) The assets of an applicant for charity care shall be counted only after the applicant has had an opportunity to apply any amount of assets in excess of the limits in (a) above toward qualified medical expenses. Qualified medical expenses are those amounts deductible for the purpose of calculation of Federal income tax liability.

N.J. Admin. Code § 10:52-11.10

Amended by R.2000 d.29, effective 1/18/2000.
See: 31 New Jersey Register 3151(a), 32 New Jersey Register 276(a).
In (b) and (d), changed N.J.A.C. references.
Recodified from 10:52-11.9 and amended by R.2000 d.299, effective 7/17/2000.
See: 32 New Jersey Register 1123(a), 32 New Jersey Register 2615(a).
In (a) and (d), changed N.J.A.C. references. Former N.J.A.C. 10:52-11.10, Limit on accounts with alternative documentation, recodified to N.J.A.C. 10:52-11.11.