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