2017 Social Security and Medicaid Income and Asset Limits
The 2017 figures for eligibility for Medicaid and Supplemental Security Income (SSI) are effective now that we are into the new year. The resource limit for a single person stays the same ($2,000) for SSI and long term care Medicaid programs.
For a spouse at home of a person qualifying for long term care Medicaid (often referred to as the community spouse), the resource limit has increased to $120,900.
The income limit for SSI is now $735 per month which then makes the Medicaid income limit $2,205 (always 3 times the SSI limit). Medicare part B monthly premiums have increased. According to www.medicare.gov, the standard Part B premium amount has increased to $134 per month. However, most people will pay less. The average is $109. The monthly personal needs allowance for people on Medicaid in a nursing home remains at $105. Finally, the home equity exclusion for Medicaid eligibility went up to $560,000. For a chart of these figures click here.
Kole J. Long
Elder Law Attorney
Co-Trustee, Guardian Trusts