N.J. Admin. Code § 10:71-4.2

Current through Register Vol. 56, No. 8, April 15, 2024

Section 10:71-4.2 - Countable resources

(a) Any resource which is not specifically excludable under the provisions of 10:71-4.4 shall be considered a countable resource for the purpose of determining Medicaid Only eligibility.

1. No portion of a cash reward offered by the Division to an individual for providing information about fraud and/or abuse in any program administered in whole or in part by the Division shall be included in the computation of resources for financial eligibility purposes, if the resource is maintained in a separate account, in accordance with 10:71-4.4(b).

(b) Verification of resources: If verification is required in accordance with the provisions of 10:71-4.1(d)3, the CWA shall proceed in the following manner:

1. Real property which produces income: If the CWA determines that it is necessary to establish whether or not real property is producing income consistent with its current market value (see 10:71-4.4(b)5 ), inquiry shall be made of local real estate brokers, tax assessors or other persons knowledgeable of the prevailing rate of return on real property in the community.

2. Nonexcludable household goods and/or personal effects: If the CWA determines that certain household goods and/or personal effects are not excludable (see 10:71-4.4 ), inquiry shall be made of one or more local merchants who deal in used household goods or personal goods in order to determine the current market value of the resource.

3. The CWA shall verify the existence or nonexistence of any cash, savings or checking accounts, time or demand deposits, stocks, bonds, notes receivable or any other financial instrument or interest. Verification shall be accomplished through contact with financial institutions, such as banks, credit unions, brokerage firms and savings and loan associations. Minimally, the CWA shall contact those financial institutions in close proximity to the residence of the applicant or the applicant's relatives and those institutions which currently provide or previously provided services to the applicant.

(c) Documentation of verification: Any verification which occurs in connection with the determination or evaluation of resources shall be fully documented in the case record.

N.J. Admin. Code § 10:71-4.2

Amended by R.1986 d.481, effective 12/15/1986 (operative January 1, 1987).
See: 18 N.J.R. 542(a), 18 N.J.R. 2457(a).
Old (b) and (c) deleted; (c)1 renumbered (b); (b)3 added; (d) renumbered to (c).
Amended by R.2000 d.415, effective 10/16/2000.
See: 32 N.J.R. 2565(a), 32 N.J.R. 3844(a).
In (b), substituted "CBOSS" for "CWA" throughout.
Amended by R.2002 d.124, effective 4/15/2002.
See: 33 N.J.R. 4188(a), 34 N.J.R. 1546(a).
Added (a)1.
Amended by R.2012 d.025, effective 2/6/2012.
See: 43 N.J.R. 804(a), 44 N.J.R. 230(a).
In the introductory paragraph of (b), and in (b)1, (b)2 and (b)3, substituted "CWA" for "CBOSS"; in (b)1, deleted a comma following "assessors"; and in (b)3, substituted the second occurrence of "or" for the second occurrence of "of", and deleted a comma following "receivable" and "firms".