Hauptman & Hauptman Featured In The Star-Ledger
Hauptman & Hauptman, guiding families through life’s transitions.
- Newark, NJ (1888PressRelease) June 03, 2020 - Yale S. Hauptman, Founding Partner, Hauptman & Hauptman, PC., was quoted throughout the article “My mom lives in a nursing home. Will her stimulus payment make her ineligible for Medicaid?”. The story ran in The Star-Ledger and on NJ.com. In the article, Yale offers insight into how the stimulus checks, as a result of the coronavirus pandemic, influences eligibility for Medicaid.
Medicaid eligibility rules state that a recipient’s bank account cannot have more than $2000, otherwise that person would not qualify for benefits. This caused concern among some who feared that accepting the stimulus check would put them over the $2000 limit and at risk of losing those benefits.
According to Yale Hauptman, “The SSA does not consider the stimulus payments as income for purposes of Supplemental Security Income (SSI) eligibility. Rather, they are considered an asset but will not be counted for a period of 12 months.”
He also cautioned against donating the check or using it to purchase tangible items that can be considered an exchange of assets, insisting that the money be spent down within 12 months. “A gift to your children, for example, would be a transfer for less than fair value and cause a Medicaid penalty – a period of ineligibility for benefits. You also can’t buy jewelry or other tangible items that have financial resale value such as rare coins or stamps.”
To read the article, please click here.
Yale S. Hauptman is licensed both in New Jersey and New York. His practice is focused on elder, estate, and special needs law. He has personally helped thousands of families plan for the complicated and emotional journey through the long-term care process. Yale writes and speaks extensively on elder, estate and special needs law topics, has been featured in both local and national media and has been quoted in print and digital media outlets. Additionally, Yale presents elder law topics to legal, financial, insurance, and health care professional organizations as well as to the general public. He is also a published author of an eldercare book entitled, “Be Nice To Me-I Pick Your Nursing Home.” Yale teamed up with his partner and wife, Laurie A. Hauptman, Esq., and nationally acclaimed speaker and financial advisor, Don Quante, for his book, “Don’t Go Broke in a Nursing Home”, a consumer’s real-life hands-on guide to long-term care, including Medicaid eligibility, Veterans benefits, and new ways to “self-fund” your care without going broke.
Laurie A. Hauptman is a New Jersey and New York licensed attorney who has concentrated her practice on estate, elder and special needs law for over 20 years. Additionally, Laurie is a Department of Veterans Affairs’ accredited attorney for the preparation, presentation, and prosecution of claims for veterans' benefits. She has been intrinsically involved with helping thousands of families navigate the circuitous and emotional journey through the long-term and special needs process. Laurie was a trial attorney in a litigation firm before joining forces with her husband, Yale. Her courtroom experience is essential to handling the firm’s court work, including guardianships, conservatorships, and special needs trusts. Civically and community-minded, she is a member of the United Way Caregivers Coalition Steering Committee, Co-Chairperson of the Elder and Disability Law Committee of the Essex County Bar Association, and a frequent lecturer on estate, special needs, and elder law planning topics.
To view additional media outreach, please visit: https://www.hauptmanlaw.com/press-room/
Founded in 1995, Hauptman & Hauptman, PC, offers a hands-on approach to Elder law. Your legal matter will be handled with attention and care. For more information, please contact 973.994.2287 or visit http://www.hauptmanlaw.com/
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