Medicaid Income and Resource Levels

 

It is imperative, before developing a spend down plan, that we evaluate the ownership of assets using the rules set by the Department of Social Services, such as the rules concerning joint accounts.

2017 level for the Applicant

  • $14,850
  • Prepaid Funeral in an Irrevocable Trust
  • $1,500 Face Value of Life Insurance
    If the total face value of the policies exceed $1,500 the entire cash value counts as an asset.

2017 Resource Allowance for a married couple at Home:

  • $21,750

Income Allowance for Nursing Home resident:

  • $50 a month

2017 Income Allowance for Home Care:

  • Single person: $845.00
  • Married Couple: $1,229.00

Note: Veterans or widows of a veteran, may be eligible for Aid and Attendance benefits. This income is not countable for Medicaid. You should contact the local Veterans Administration Counselor.

Exempt Transfers of the house may be made to:

  • Spouse
  • Primary Caregiver – a child that has lived with a parent and kept them out of a nursing home for 2 years
  • Siblings with an equity interest who have lived together 1 year
  • Disabled child of any age
  • Children under 21

Exempt Transfers of assets may be made to:

  • Spouse
  • Disabled child of any age

S.T.A.R.S. for Seniors, L.L.C.
Sharon Tuszynski's Application & Referral Service
518-283-5315 | Cell: 518-369-7573
email: sharon2642@nycap.rr.com