Medicaid is a federal- and state-managed program that provides medical coverage for people with low incomes. The Medicaid program varies from state to state, so it’s not safe to assume that New Jersey's Medicaid program is similar to other state Medicaid programs.
New Jersey residents who meet the income and assets guidelines (see below) may have their Medicare premiums, deductibles and coinsurance paid by the program. They also will be provided with additional coverage through Medicaid. (Medicaid can be considered supplementary insurance for Medicare beneficiaries.)
* Income limits are based on the Federal Poverty Level (FPL) and increase each year in February. Call a Medicaid counselor to see how income is calculated. If you think your income is higher than the limits listed above, you may still be eligible for Medicaid through deductions. If your income is significantly higher and you cannot afford your health-care expenses, you may be qualified for Medicaid for a portion of the month through the N.J. Medically Needy program
**Income limits are higher for households with more than two people.
***Assets do not include your primary house or car, and you and your spouse can each have an extra savings of $1,500 for a burial fund.
Note: This information came from Medicare Interactive. For more information, visit them online.