Substantial Home Equity Limit for 2020

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Dec 212019
 

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

New Life Expectancy Table

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Jun 162019
 

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.

Substantial Home Equity Limit for 2019

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Dec 092018
 

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

Resource Levels for 2019

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Dec 092018
 

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

New Life Expectancy Table

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Aug 312018
 

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.

Substantial Home Equity Limit for 2018

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Jan 042018
 

The Substantial Home Equity Limit for 2018 is shown in GIS 17 MA/20, which is dated 12/28/17. PLEASE NOTE: I have been told that on 01/03/18, local social service districts were notified that there is an error. The spousal impoverishment figures and statement in Attachment I of the GIS are incorrect. However, the figures in the text of the GIS itself are correct.

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

HOME EQUITY LIMIT FOR 2018
The home equity limit for Medicaid coverage of nursing facility services is $858,000 for 2018. GIS 17 MA/20, page 3.

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 01/03/18

Resource Levels for 2018

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Jan 042018
 

Medicaid resource levels for the year 2018 are shown in GIS 17 MA/20, which is dated 12/28/17. PLEASE NOTE: I have been told that on 01/03/18, local social services districts were notified that there is an error. The spousal impoverishment figures and statement in Attachment I of the GIS are incorrect. However, the figures in the text of the GIS itself are correct. By 01/16/18, the figures in the Attachment had been corrected.

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

RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2018:
For 2018, the resource level for the Medicaid applicant is $15,150. GIS 17 MA/20, page 2.

RESOURCE LEVEL FOR THE COMMUNITY SPOUSE FOR 2018:
For 2018, the minimum resource level for the community spouse is $74,820 and the maximum is $123,600. GIS 17 MA/20, page 3. 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 01/04/18

New Life Expectancy Table

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Nov 072017
 

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

GIS 17 MA/16, dated 10/27/17, 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.

Substantial Home Equity Limit for 2017

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Dec 262016
 

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

HOME EQUITY LIMIT FOR 2017
The home equity limit for Medicaid coverage of nursing facility services is $840,000 for 2017. GIS 16 MA/18, 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.

Resource Levels for 2017

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Dec 262016
 

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

RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2017:
For 2017, the resource level for the Medicaid applicant is $14,850. There is no change from 2015 or 2016. GIS 16 MA/18, page 2 and Attachment.

RESOURCE LEVEL FOR THE COMMUNITY SPOUSE FOR 2017:
For 2017, the minimum resource level for the community spouse is $74,820 and the maximum is $120,900. GIS 16 MA/18, page 2 and 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.

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