There is a new life expectancy table to use when determining if an annuity, promissory note, loan or mortgage is actuarially sound.
GIS 21 MA/19, dated 10/08/2021, 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 10/10/2021
The Substantial Home Equity Limit for the year 2021 is shown in GIS 20 MA/13, which is dated 12/30/20.
Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:
HOME EQUITY LIMIT FOR 2021
The home equity limit for Medicaid coverage of nursing facility services is $906,000 for the year 2021. GIS 20 MA/13.
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 12/31/2020
Medicaid resource levels for the year 2021 are shown in GIS 20 MA/13, which is dated 12/30/20.
Please note that there are attachments to the GIS. When the GIS originally was posted to the New York State Department of Health website, it included an attachment which had not been updated to include the changes for the year 2021. An updated Attachment I was later posted to the NYSDOH website. The incorrect attachment shows that it was revised on November 9, 2020. The revised attachment shows that it was revised on December 30, 2020.
Medicaid Financial Eligibilty Rules for Nursing Home Care in New York State should be updated as follows:
RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2021:
The resource level for the Medicaid applicant is $15,900. GIS 20 MA/13 and its revised Attachment I.
RESOURCE LEVEL FOR THE COMMUNITY SPOUSE FOR 2021:
The minimum resource level for the community spouse is $74,820 and the maximum is $130,380. GIS 20 MA/13 and its revised 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 12/31/2020. Updated 01/01/2021.
There is a new life expectancy table to use when determining if an annuity, promissory note, loan or mortgage is actuarially sound.
GIS 20 MA/08, dated 08/25/20, 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 08/27/2020
Medicaid resource levels for the year 2020 are shown in GIS 19 MA/12, which is dated 12/19/19.
Medicaid Financial Eligibilty Rules for Nursing Home Care in New York State should be updated as follows:
RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2020:
For 2020, the resource level for the Medicaid applicant is $15,750. GIS 19 MA/12, page 2 and Attachment 1.
RESOURCE LEVEL FOR THE COMMUNITY SPOUSE FOR 2020:
For 2020, the minimum resource level for the community spouse is $74,820 and the maximum is $128,640. GIS 19 MA/12, page 2 and Attachment 1. 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 12/21/2019
The Substantial Home Equity Limit for 2020 is shown in GIS 19 MA/12, which is dated 12/19/19.
Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:
HOME EQUITY LIMIT FOR 2020
The home equity limit for Medicaid coverage of nursing facility services is $893,000 for 2020. GIS 19 MA/12, page 2.
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 12/21/2019
There is a new life expectancy table to use when determining if an annuity, promissory note, loan or mortgage is actuarially sound.
GIS 19 MA/07, dated 05/23/19, 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.
The Substantial Home Equity Limit for 2019 is shown in GIS 18 MA/15, which is dated 12/7/18.
Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:
HOME EQUITY LIMIT FOR 2019
The home equity limit for Medicaid coverage of nursing facility services is $878,000 for 2019. GIS 18 MA/15, page 2.
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 12/09/2018
Medicaid resource levels for the year 2019 are shown in GIS 18 MA/15, which is dated 12/7/18.
Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:
RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2019:
For 2019, the resource level for the Medicaid applicant is $15,450. GIS 18 MA/15, page 2.
RESOURCE LEVEL FOR THE COMMUNITY SPOUSE FOR 2019:
For 2019, the minimum resource level for the community spouse is $74,820 and the maximum is $126,420. GIS 18 MA/15, page 2. 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 12/09/2018
There is a new life expectancy table to use when determining if an annuity, promissory note, loan or mortgage is actuarially sound.
GIS 18 MA/08, dated 6/21/18, 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.