MIL is currently on Medicaid in NJ receiving in home nursing care. A QIT has been established to administer the monthly income that is over the limit. The only asset she has is a checking account that typically has less than $2,000 in it at the end of the month. If the account balance is more than $2,000 at the end of a particular month, would this violate the $2,000 asset limit rule? Or would this rule only apply at the initial application and subsequent annual renewals?
I don't think, could be wrong, that Medicaid checks banking accounts monthly but will want an updated bank statement when you reapply yearly.