2012 Medicaid Eligibility Levels
January 20, 2012
This issue of the e-mail mailing list reviews the Medicaid eligibility levels for 2012 recently issued by New York State:
Medicaid Financial Eligibility for a Single Person:
Life Savings: $14,250
Monthly Income if in Nursing Home: $50
Monthly Income if Receiving Home Care: $792
Medicaid Financial Eligibility for Married Couple:
Life Savings for Institutionalized Spouse: $14,250
Life Savings for At-Home Spouse: $74,820-$113,640
Monthly Income for Institutionalized Spouse: $50
Monthly Income for At-Home Spouse: $2,841
Life Savings for Couple: $20,850
Income for Couple: $1,159
Note: The Healthy Spouse can keep substantially more income and life savings when the ill spouse is institutionalized. The law does not encourage home care. By planning in advance, assets can be protected and home care becomes a more viable option.
Transfer of Assets:
The Lookback period is 5 years for all transfers when applying for Nursing Home Medicaid Coverage.
There is no Lookback period for transfers when applying for most Home Care Medicaid Coverage.