There is a BIG change on the horizon for asset and income limits for long term care Medicaid recipients.
Community-Based Long Term Care Medicaid
Starting January 1, 2023, there will be an increase in the allowable monthly income level, as follows:
Practical Note: The local Department of Social Services will not automatically update a current recipient’s excess income. The update will happen at the scheduled recertification for 2023; however, the recipient can request a change after January 1, 2023.
Community-Based and Chronic (Nursing Home) Medicaid
Additionally, there has been an increase in the asset limit for 2023 for Community-Based and Chronic (Nursing Home) Medicaid recipients:
*IMPORTANT: The exact new income and asset amounts are yet to be determined. The above numbers are calculated based on the 2022 Federal Poverty Level (“FPL”). The 2023 FPL has not been released.