Medicaid Facts for Retirees

January 26, 2012 — Leave a comment

Retirement Facts (2012) & Figures That Every Retiree Needs to Know

Medicaid Spousal Impoverishment Figures for 2012
The new minimum community spouse resource allowance (CSRA) is $22,728, and the new maximum CSRA is $113,640. The new maximum monthly maintenance needs allowance is $2,841. The minimum monthly maintenance needs allowance remains $1,838.75 until July 1, 2012.

Income cap
The income cap for 2012 applicable in “income cap” states will be $2,094 a month.

Medicaid home equity limit
Minimum: $525,000; Maximum: $786,000
Medicare Premiums, Deductibles and Copayments for 2012
Basic Part B premium: $99.90/month (was $96.40 for most beneficiaries)
Part B deductible: $140 (was $162)
Part A deductible: $1,156 (was $1,132)
Co-payment for hospital stay days 61-90: $289/day (was $283)
Co-payment for hospital stay days 91 and beyond: $578/day (was $566)
Skilled nursing facility co-payment, days 21-100: $144.50/day (was $141.50)

Premiums for higher-income beneficiaries:
Individuals with annual incomes between $85,000 and $107,000 and married couples with annual incomes between $170,000 and $214,000 will pay a monthly premium of $139.90 (was $161.50).
Individuals with annual incomes between $107,000 and $160,000 and married couples with annual incomes between $214,000 and $320,000 will pay a monthly premium of $199.80 (was $230.70).
Individuals with annual incomes between $160,000 and $214,000 and married couples with annual incomes between $320,000 and $428,000 in 2010 will pay a monthly premium of $259.70 (was $299.90).
Individuals with annual incomes of $214,000 or more and married couples with annual incomes of $428,000 or more in 2010 will pay a monthly premium of $319.70 (was $369.10).
Social Security Benefit Changes for 2012
Monthly federal Supplemental Security Income (SSI) payment standard will be $698 for an individual and $1,048 for a couple.
Average monthly Social Security retirement payment: $1,229 a month (was $1,186) for individuals and $1,994 (was $1,925) for couples
Maximum amount of earnings subject to Social Security taxation: $110,100 (was $106,800).

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