If you’re thinking about estate planning, good for you! Your goal is to make…
January 1st is right around the corner, and with the new year comes updated Medicaid Income and Resource standards and eligibility limits for 2015.
GIS 14 MA/029: 2015 Medicaid Only Income and Resource Levels and Spousal Impoverishment Standards was recently published. It advises us of the income and resource levels used in determining Medicaid eligibility starting January 1, 2015.
The GIS can be found here.
The following figures are some of the most relevant updates for those applying for Medicaid benefits and their spouses.
-For a single person: $14,850
-For a household of two: $21,750
Monthly Income for those residing in the community:
-For a single person: $825 plus the $20 disregard = $845 per month
-For a household of two: $1,209 plus the $20 disregard = $1,249 per month
Community Spouse Resource Allowance Maximum (CSRA): $119,220
The CSRA Minimum remains at $74,820
Minimum Monthly Maintenance Needs Allowance (MMMNA): $2,980.50
Personal Needs Allowance for certain waiver participants subject to spousal impoverishment budgeting: $384 per month
Home Equity Limit: $828,000
The full GIS can be found here.
We will keep you posted as additional figures are published.
We wish all of our readers a Happy and Healthy New Year!