New Jersey Administrative Code
Title 5A - MILITARY AND VETERANS' AFFAIRS
Chapter 5 - NEW JERSEY VETERANS' MEMORIAL HOMES
Subchapter 5 - CARE MAINTENANCE FEE COMPUTATION
Section 5A:5-5.2 - Formula for computing single resident's skilled nursing monthly resident fee based on an 80/20 percentage
Current through Register Vol. 56, No. 6, March 18, 2024
(a) The monthly resident fee for a single 80/20 resident is based on the total gross income, minus allowable deductions. This figure is the net income. Eighty percent of the net income will be the resident fee charged. An additional $ 20.00 or 12 percent of the balance of their monthly income, whichever is less will be deposited in the welfare fund of the facility. The remainder of the net income will be deposited in the resident's personal needs account.
(b) The allowable deductions for a single resident are as follows:
(c) Any interest or payment received from a trust transfer will be treated as income. Furthermore, in situations where a trust or transfer of assets has occurred within 36 months of submitting an admission application, the value of the trust and/or assets will be deemed an accountable asset for the balance of the 36-month period.