The New York State Department of Health has released important information about the new Medicaid income and resource levels for 2015, which will take effect on January 1, 2015.
The following lists the updated Medicaid income and resource levels for 2015:
Income level for one person: $825 for 2015 (Was $809 for 2014)
Income level for two people: $1,209 for 2015 (Was 1,192 for 2014)
Resource level for one person household: $14,850 for 2015 (Was $14,550 for 2014)
Resource level for household of two people: $21,750 for 2015 (Was $21,450 in 2014)
Minimum monthly maintenance needs (income) allowance: $2,980.50 for 2015 (Was $2,931 for 2014)
Maximum community spouse resource allowance: $119,220 for 2015 (Was $117,240 for 2014)
Remember, there is still a 5 year look back. For a free more info on how planning for Medicaid can protect your assets, feel free to contact us.
medicaid@raphanlaw.com or 212-268-8200
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