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New Medicaid Rates 2024

RESOURCES & ALLOWANCES

INSTITUTIONAL/ NURSING HOME CARE

Applicant Resource Allowance $31,175
Community Spouse* Resource Allowance (max) $154,140
Applicant Income Allowance (monthly) $50
Community Spouse Income Allowance (monthly) $3,853.50

COMMUNITY-BASED CARE (HOME CARE, ETC.)

Applicant Resource Allowance $31,175
Applicant Income Allowance (monthly) $1,732

*With a properly executed Spousal Refusal, a Community Spouse can typically retain assets in excess of these limits.

MEDICAID REGIONAL RATES

Long Island
(Nassau/Suffolk)
$14,668
New York City
(5 Boroughs)
$14,273
Central
(Syracuse, Broome, Cayuga, Oswego, etc.)
$12,196
Northeastern
(Albany, Rensselaer, Saratoga, Schenectady, etc.)
$13,235
Northern Metropolitan
(Westchester, Orange, Dutchess, Rockland, Putnam, Ulster & Sullivan)
$14,165
Rochester
(Monroe, Ontario, Seneca, etc.)
$14,419
Western
(Buffalo, Erie, Niagara, Genesee, etc.)
$12,241

Government Benefit Increases

As federal benefits increase this year, our Elder Law and Estate Planning attorneys are on hand to help you navigate these government programs, eligibility requirements and planning opportunities.

2024 Social Security Benefits

3.2% increase

2023 Veteran’s Benefits

Aid and Attendance Pension Benefit:

  • Single Veteran: $2,229
  • Married Veteran: $2,642
  • Surviving Spouse: $1,567

2024 Medicare Benefits

  • Hospital Deductible: $1,632
  • Co-insurance (days 61-90): $408/day
  • Skilled Nursing Facility Co-insurance (days 21-100*): $204/day
    *if medically eligible

2024 Medicaid Benefits

Institutional Benefits:

  • Resource Allowance: $31,175
  • Income Allowance: $50
  • Community Spouse Resource Allowance: $154,140
  • Community Spouse Income Allowance: $3,853.50
  • Home Equity Limit: $1,071,000

Community/Home Care Benefits

  • Resource Allowance: $31,175
  • Income Allowance: $1,732
  • Community Spouse Resource Allowance: $154,140 (maximum)
  • Community Spouse Income Allowance: $3,853.50

2024 Estate and Gift Taxes

  • Federal Estate Tax Exemption: $13,610,000 (single)
  • Federal Estate Tax Exemption: $27,220,000 (married)
  • New York State Estate Tax Exemption: $6,940,000
  • Annual Gift Tax Exclusion: $18,000 (per year/per beneficiary)
 

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