The amount of income and resources an individual is allowed to have when applying for Community Medicaid has changed. In 2023, a change in law went into effect in New York State which made the threshold amounts 138% of the Federal Poverty Level (FPL). Accordingly, each year as the FPL is adjusted, so are the threshold amounts for Medicaid Eligibility.

2024 Community Medicaid Asset and Income Requirements

For 2024, an individual applying for Community Medicaid can have no more than $31,175 in assets, excluding the home if the equity is less than $1,071,000. Tax-deferred assets, otherwise known as qualified accounts, such as IRAs or 401(K)s, are exempt, so long as the applicant is taking minimum distributions. The amount of the distribution required by Medicaid will vary based on the applicant’s county of residence. Regardless, the full amount of the distribution will be counted toward the monthly income. The 2024 Community Medicaid monthly income allowance is $1,732 per month (plus an additional $20 for being blind, aged, or disabled). However, do not be discouraged from applying from the program if you have excess income as applicants with income that exceeds this limit can still be eligible.

Using Pooled Income Trusts to Maintain Community Medicaid Eligibility

New Yorkers have the benefit of being able to utilize a Pooled Income Trust to hold excess income. This allows them to be eligible for Community Medicaid AND keep the use of their income for other household and personal expenses.

Community Medicaid Lookback Period

As a further update about the program, there is still no lookback upon application for Community Medicaid. This means that when applying, the County will not search your financial past to find out if assets have been transferred out of your name. In 2020, the New York State budget included a provision that would impose a 30-month lookback for Community Medicaid. To date, this provision has not been implemented. As per the latest information from the New York State Department of Health, the earliest the 30-month look-back period will be implemented, if ever, is mid to late 2025.

Chronic Medicaid and Long-Term Nursing Home Care

The eligibility rules are different for those applying for Chronic Medicaid to cover the cost of long-term care in a nursing facility. Due to the potential complexities of applying for eligibility for Community or Chronic Medicaid, it is imperative to consult with an expert attorney in the field to figure out how these rules effect you or your loved ones who are in need of care.