In order to access Medicaid benefits, there is an income and resource test. There are rules relating to both what is counted for each, and how they affect eligibility.
The following are the Financial Medicaid Levels for 2022 in New York State for blind, disabled, or 65 years + individuals seeking Medicaid coverage:
For Medicaid Community (Home Care and Assisted Living) Benefits:
- Resource Allowance (for Individual): $16,800
- Resource Allowance (for couple on Medicaid): $24,600
- Income Allowance (for Individual): $934
- Income Allowance (for couple on Medicaid): $1,367
For Medicaid Institutional (Nursing Home) Benefits:
- Resource Allowance (for Individual): $16,800
- Resource Allowance (for couple on Medicaid): $24,600
- Income Allowance (for Individual in Nursing Home): $50
Income Allowance for Community Spouse: $3,435
Resource Allowance for Community Spouse Resource Allowance: $137,400
Medicaid Home Equity Limit: $955,000
To find out what all of these figures mean for your individual situation, and how you can set the optimal plan for your specific needs, call our office to schedule a consultation. See how we can help you!
