NY Medicaid & Social Security Release 2012 Income & Resource Levels
Medicaid, which is simply complete health insurance provided by the states, but paid jointly by the state and federal government, is increasing the maximum income and asset levels that recipients must not exceed in order to either initially or continuously qualify for the program. The increase is due to the 3.6 percent Social Security cost of living increase, effective Jan. 1, 2012. The Medicaid program is "means tested," which means that to receive benefits you must not exceed the income and asset levels, as well as certain disability/age qualifiers.
Effective Jan. 1, 2012, New York Medicaid will use the following figures:
Household Medicaid Standard Medically Needy
Size SS/CC - LIF Income Level
Annual Monthly Annual Monthly Resources
1 8,818 735 9500 792 14250
2 11008 918 13900 1159 20850
3 13098 1092 15985 1333 23978
4 15208 1268 18070 1506 27105
5 17389 1450 20155 1680 302333
6 18984 1582 22240 1854 33360
7 20665 1723 24325 2028 36488
8 22822 1902 26410 2201 39615
Each ad'l 1236 104 2085 174 3128
- The community spouse minimum and maximum Community Spouse Resource Allowance (CSRA), which is the amount of assets that a spouse who remains in the community is allowed to keep, while their spouse remains permanently in a nursing home, will range from $74,820 to $113,640, depending on total assets of the couple.
- The community spouse Minimum Monthly Maintenance Needs Allowance (MMMNA), which is the monthly income amount a community spouse can keep while their spouse remains in the nursing home, increases to $2,841.
- Social Security - Substantial Gainful Activity (non-blind), which is the amount that a person on disability cannot exceed while working and still be considered disabled, increases to $1,010/month, although any work can jeopardize disability payments.
- The Standard Medicare Part B payment will be $99.90.
Notwithstanding these figures, Medicaid planning can include utilizing spousal refusal, which protects the assets of the community spouse, drafting a Medicaid Asset Protection Trust, which can preserve assets and other trusts to preserve income while staying in the community.
This article is provided for informational purposes only. Nothing in this article shall be construed as legal advice or should be relied upon as such. Michael LaMagna is a partner at Timins & LaMagna, LLP, practicing Health Care Regulatory, Elder /disability/veteran's law, trusts and estates, Social Security and general legal practice in both New York and Connecticut. Michael was just appointed to the ACO Task Force of the American Health Lawyers Association. Email him at Mlamagna@tllawoffices.com or call him at 914-819-0663 for more information.