Resource Levels for 2024 – Updated

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Feb 162024
 

Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:

RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2024:
The resource level for the Medicaid applicant is $31,175. GIS 24 MA/01 Attachment.

This is an update from the 2024 resource level which had previously been announced.

Posted 02/16/2024.

 

Substantial Home Equity Limit for 2024

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Dec 292023
 

Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:

HOME EQUITY LIMIT FOR 2024
The home equity limit for Medicaid coverage of nursing facility services is $1,071,000. GIS 23 MA/23, which is dated 12/29/2023.

For an explanation of how this rule works, see pages 13-14 of Medicaid Financial Eligibility Rules for Nursing Home Care in New York State.

Posted 12/29/2023

Resource Levels for 2024

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Dec 292023
 

Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:

RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2024:
The resource level for the Medicaid applicant remains at $30,182 for now. GIS 23 MA/23 and its Attachment.

RESOURCE LEVEL FOR THE COMMUNITY SPOUSE FOR 2024:
The minimum resource level for the community spouse is $74,820 and the maximum is $154,140. GIS 23 MA/23 and its Attachment. For an explanation of how this rule works, see page 9 of Medicaid Financial Eligibility Rules for Nursing Home Care in New York State.

CHANGE IS COMING: GIS 23 MA/23 is dated 12/29/2023.  It advises that the Medically Needy resource level is based on a percentage of the Medically Needy income level, and the Medically Needy income level is based on a percentage of the Federal Poverty Level.  When the 2024 Federal Poverty Level is announced, the Medically Needy resource level will be updated.

 

Posted 12/29/2023

New Life Expectancy Table

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Jul 162023
 

There is a new life expectancy table to use when determining if an annuity, promissory note, loan or mortgage is actuarially sound.

GIS 23 MA-09, dated 04/11/2023, states that the life expectancy table in its attachment is to be used rather than the table which was attached to 06 OMM/ADM-5.

Posted 07/16/2023

Resource Levels for 2023 – Updated

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Feb 152023
 

Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:

RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2023:
The resource level for the Medicaid applicant is $30,182. GIS 23 MA/02 Attachment.

RESOURCE LEVEL FOR THE COMMUNITY SPOUSE FOR 2023:
The minimum resource level for the community spouse is $74,820 and the maximum is $148,620. GIS 22 MA/14 and its Attachment. These figures were not updated by GIS 23 MA/02 and its Attachment.  For an explanation of how this rule works, see page 9 of Medicaid Financial Eligibility Rules for Nursing Home Care in New York State.

Posted 02/15/2023

 Posted by at 6:10 pm

Substantial Home Equity Limit for 2023

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Dec 302022
 

Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:

HOME EQUITY LIMIT FOR 2023
The home equity limit for Medicaid coverage of nursing facility services is $1,033,000. GIS 22 MA/14.

For an explanation of how this rule works, see pages 13-14 of Medicaid Financial Eligibility Rules for Nursing Home Care in New York State.

Posted 12/30/2022

Resource Levels for 2023 – Original

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Dec 302022
 

Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:

RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2023:
The resource level for the Medicaid applicant is $28,133. GIS 22 MA/14 attachment.

RESOURCE LEVEL FOR THE COMMUNITY SPOUSE FOR 2023:
The minimum resource level for the community spouse is $74,820 and the maximum is $148,620. GIS 22 MA/14 and its Attachment. For an explanation of how this rule works, see page 9 of Medicaid Financial Eligibility Rules for Nursing Home Care in New York State.

Posted 12/30/2022

New Life Expectancy Table

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Jul 202022
 

There is a new life expectancy table to use when determining if an annuity, promissory note, loan or mortgage is actuarially sound.

GIS 22 MA-06, dated 07/15/2022, states that the life expectancy table in its attachment is to be used rather than the table which was attached to 06 OMM/ADM-5.

Posted 07/20/2022

Substantial Home Equity Limit for 2022

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Jan 192022
 

Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:

HOME EQUITY LIMIT FOR 2022
The home equity limit for Medicaid coverage of nursing facility services is $955,000 for the year 2022. GIS 21 MA/25.

For an explanation of how this rule works, see pages 13-14 of Medicaid Financial Eligibility Rules for Nursing Home Care in New York State.

Posted 01/19/2022

Resource Levels for 2022

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Dec 292021
 

Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:

RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2022:
The resource level for the Medicaid applicant is $16,800. GIS 21 MA/25 and its Attachment I.

RESOURCE LEVEL FOR THE COMMUNITY SPOUSE FOR 2022:
The minimum resource level for the community spouse is $74,820 and the maximum is $137,400. GIS 21 MA/25 and its Attachment I. For an explanation of how this rule works, see page 9 of Medicaid Financial Eligibilty Rules for Nursing Home Care in New York State.

Posted 12/29/2021