The Substantial Home Equity Rule is described on pages 13-14 of Medicaid Financial Eligibility Rules for Nursing Home Care in New York State. For 2012, the Substantial Home Equity Limit was increased to $786,000. See GIS 12 MA/002; Medicaid Reference Guide at 782.
Posted 06/03/2012
Medicaid Financial Eligibility Rules for Nursing Home Care in New York State should be updated as follows:
RESOURCE LEVEL FOR THE MEDICAID APPLICANT FOR 2012
The resource level for the Medicaid applicant is $14,250 for the year 2012. GIS 11 MA/027; GIS 12 MA/009 Attachment.
COMMUNITY SPOUSE RESOURCE ALLOWANCE FOR 2012
For 2012, the minimum is $74,820 and the maximum is $113,640. If the community spouse’s half is $113,640 or more, the community spouse can keep $113,640. GIS 11 MA 027 and GIS 12 MA/009 Attachment. Note that Medicaid Reference Guide, at 779 says $133,640. I assume that is a typographical error.
Posted 05/28/2012