Clients, Friends, and Colleagues,
NYS MEDICAID INCREASES INCOME AND RESOURCE THRESHOLDS IN 2023 & OTHER UPDATES
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In 2023, unexpected and thrilling developments surfaced for NYS residents who are over 65, blind, or disabled. We now have EXPANDED MEDICAID, a move that essentially qualifies more New Yorkers for Medicaid Assistance for long-term care either at home or in a nursing home.
The components of eligibility include:
- A disability finding,
- Low income, and
- Low resources.
The thresholds in these categories have increased dramatically and will be further updated by NYS based on the 2023 federal poverty figures. What’s more, a finding of disability for those who are 65 and older must be substantiated before any benefits will be offered.
As of March 2023, the Income threshold (now at 138% of the Federal Poverty level) and the Medicaid Asset Limit (now 50% higher than in 2022), appear below and are applied differently depending upon whether you are seeking personal care assistance at home or care within a nursing home facility…
| COMMUNITY MEDICAID | HOME CARE |
| → In 2022, the Medicaid Monthly Income threshold for a single individual was $934.00 plus a $20.00 disregard. For married couples, the threshold was $1,367.00.
→ In 2023, the Medicaid Monthly Income threshold for a single individual is $1,563.00 plus a $20.00 disregard. For married couples, the threshold is now $2,106.00. → In 2023, the Spouse may keep the Maximum Monthly Maintenance Needs Allowance of $3,715.50 from the couple’s income. It is important to note: If your income is over this allowance, we are still able to qualify you for Community Medicaid, by having you join a pooled trust. |
| CHRONIC CARE MEDICAID | NURSING HOME CARE |
| → In 2023, as before, a single individual may keep $50.00 of his or her monthly income plus sufficient funds to pay health insurance premiums. The remaining Net Available Monthly Income (NAMI) balance must be paid to the nursing home.
→ In 2023, married couples may allocate $3,715.00 of the monthly income for the community spouse plus $50.00 to the applicant spouse. This policy is intended to protect the financial well-being of applicants and their spouses. The remaining NAMI balance is paid to the nursing home. |
| RESOURCE ALLOWANCES FOR AT-HOME CARE & NURSING HOME CARE |
| → In 2022, the Medicaid Asset limit for a single individual was $16,800.00. For married couples, the limit was $24,600.00.
→ In 2023 the Medicaid Asset Limit for a single individual is now $28,133.00. For married couples, the limit is now $37,902.00. → In 2023, the home equity limit is $1,033,000.00. It is important to note: If your resources are over the threshold, we are still able to qualify you for Medicaid Assistance by undertaking a Medicaid plan. |
For more information, check out www.eldercareatty.com.
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