Traditional MedicareReimbursementMedium impact
Newsletter Vol. 4, No. 11
New Jersey Medicaid·NJ · Geriatrics, Psychiatry·Provider Notice
Effective date
Jan 1, 2024
We identified it
Jun 20, 2026
Summary
This policy notifies nursing facilities and psychiatric hospitals of a Medicare Part B premium increase effective January, with potential reductions to SMI (Supplemental Medical Insurance) premiums for Social Security beneficiaries experiencing net decreases in benefits. County Welfare Agencies are adjusting premium deductions accordingly, with most cases processed through the Medicaid Buy-In program.
Action Required
By January 2024: Billing team must verify that County Welfare Agencies have completed appropriate premium adjustments in their records. For institutional Medicaid-only eligibles, confirm SMI premium amounts are correctly reflected on Form PAL Statement of Available Income documents. For ongoing Buy-In cases, verify that the State is paying premiums directly (no deductions should be made from beneficiary payments). Update internal references for institutional monthly caps and SNF Medicare coinsurance rates as noted in the newsletter. Contact Ellen Keane at the Bureau of Claims and Accounts if discrepancies are identified.