One of the most important protections for the spouses of Medicaid applicants is the "community spouse resource allowance...Read more
Amounts Spouses of Medicaid Recipients May Keep in 2008 Are Released
- October 26th, 2007
The Centers for Medicare & Medicaid Services (CMS) has released the 2008 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep.
In 2008, the spouse of a Medicaid recipient living in a nursing home (called the "community spouse") may keep as much as $104,400 without jeopardizing the Medicaid eligibility of the spouse who is receiving long-term care. Called the "community spouse resource allowance," this is the most that a state may allow a community spouse to retain without a hearing or a court order. While some states set a lower maximum, the least that a state may allow a community spouse to retain in 2008 will be $20,880.
Meanwhile, the maximum monthly maintenance needs allowance for 2008 will be $2,610. This is the most in monthly income that a community spouse is allowed to have if her own income is not enough to live on and she must take some or all of the institutionalized spouse's income. The minimum monthly maintenance needs allowance remains $1,711.25 until July 1, 2008. In determining how much income a particular community spouse is allowed to retain, states must abide by this upper and lower range. Bear in mind that these figures apply only if the community spouse needs to take income from the institutionalized spouse. According to Medicaid law, the community spouse may keep all her own income, even if it exceeds the maximum monthly maintenance needs allowance.
The new figures reflect an increase in the Consumer Price Index (CPI) of 2.8 percent from September 2006 to September 2007. The 2008 figures take effect on January 1, 2008.
For a more complete explanation of the community spouse resource allowance and the monthly maintenance needs allowance, click here.
Local Elder Law Attorneys in Ashburn, VA
The Law Firm of Evan H. Farr, P.C.
In practice since 1987, Fairfax Attorney Evan Farr is widely recognized as one of the leading Elder Law, Estate Planning, and Specials Needs attorneys in Virginia and one of foremost experts in the Country in the field of Medicaid Asset Protection and related Trusts. Evan Farr has been quoted or cited as an expert by n...
Felinton Elder Law & Estate Planning Centers
Mindy Felinton concentrates in the areas of Medicaid planning, Veterans' Benefits, asset protection, nursing home planning, elder law, wills, estate planning, trusts, living wills, powers of attorney, probate administration and trust administration and began her legal career 30 years ago as an Assistant State Attorney...
Hammond and Associates, LLC, Elder Law, Estate Planning, Wills, Trusts, Probate
For Jeffrey Hammond, the practice of Elder Law is personal. Jeff’s many years of experience in law and in business did not prepare him for the crisis he faced in 2005 and 2006 when his father suffered a stroke and both of his parents suffered from dementia and other medical problems. At that time, Jeff began an i...