By Fredrick P. Niemann, Esq. of Hanlon Niemann, a Freehold, NJ Medicaid Attorney
The Centers for Medicare and Medicaid Services (CMS) has announced that the spousal impoverishment and home equity limit figures will not change from 2015 levels next year. This is because there was no increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
This means that the 2016 community spouse resource allowance (CSRA) will continue to be a maximum of $119,220 and a minimum of $23,844. The maximum monthly maintenance needs allowance will remain $2,980.50 a month and the income cap stays at $2,199. Medicaid’s home equity limits also remain unchanged at a minimum of $552,000 and a maximum of $828,000.
To discuss your NJ Medicaid matter, please contact Fredrick P. Niemann, Esq. toll-free at (855) 376-5291 or email him at firstname.lastname@example.org. Please ask us about our video conferencing consultations if you are unable to come to our office.
Published by Elder Law Answers for Attorneys