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N.J.A.C. 10:71-4.4 This file includes all Regulations adopted and published through the New Jersey Register, Vol. 57 No. 12, June 16, 2025 NJ - New Jersey Administrative Code > TITLE 10. HUMAN SERVICES > CHAPTER 71. MEDICAID ONLY > SUBCHAPTER 4. RESOURCES § 10:71-4.4 Excludable resources (a) A resource which is classified as excludable shall not be considered either in the deeming of resources or in the determination of eligibility for participation in the Medicaid Only Program. (b) The following resources shall be classified as excludable: 1. A house occupied by the individual as his or her place of principal residence, and the land appertaining thereto, shall be excluded: i. Short temporary absences from home such as trips, visits, and hospitalizations do not affect this exclusion so long as the individual intends, and may reasonably be expected, to return home. An absence of more than six months is assumed to indicate that the home no longer serves as a principal residence. However, if the home is used by a spouse or there is evidence that the absence from the house is temporary, the home may continue to be excluded. With that exception, the CSSA shall extend the period only with approval from the Division of Medical Assistance and Health Services. 2. In the determination of resources of an individual (and spouse, if any), an automobile shall be excluded or counted as follows: i. One automobile is totally excluded regardless of value if it is used for transportation for the individual or a member of the individual's household. ii. Any other automobiles shall be considered to be non-liquid resources. Equity in all such automobiles is counted as a resource. (1) The equity value of an automobile is the value of the vehicle as indicated by the "Average Wholesale Value" in the most recent April or October edition of the Red Book; Official Used Car Valuations minus any encumbrances. 3. Personal effects and household goods, to the extent that the total equity value of such resources does not exceed $ 2,000: i. The amount by which the equity value of such resources exceeds $ 2,000 shall be countable toward the appropriate resource maximum. ii. In determining the value of household goods and personal effects of an individual (and spouse), there shall be excluded a wedding ring and an engagement ring. iii. Prosthetic devices, dialysis machines, hospital beds, wheel chairs, and similar equipment shall not be considered in the evaluation of personal effects, unless such items are used extensively and primarily by other members of the household, as well as by the person whose physical condition requires them. 4. The cash surrender value of all life insurance policies owned and in the control of the individual, if the total face value of such policies does not exceed $ 1,500 (see also (b)9 below):