Key Elder Law Dollar Amounts

Last Updated: 1/1/2017 (unless otherwise noted)

Below are figures for 2017 that are frequently used in the elder law practice, including the  figures for Virginia Medicaid spousal impoverishment, the Federal long-term care insurance deductibility limits, and Medicare premiums and co-pays,  Social Security Disability, and Supplemental Security Income:

Medicaid Figures:

Medicaid is the primary source of medical assistance for millions of low-income and disabled Americans, providing health coverage to many of those who would otherwise be unable to obtain health insurance. In FY 2015, more than 1 in 5 individuals were enrolled in Medicaid for at least 1 month during the year, and in FY 2017, more than 70 million people on average will receive health care coverage through Medicaid.

Although the federal government establishes general guidelines for the program, states design, implement, and administer their own Medicaid programs.  The federal government matches state expenditures on medical assistance based on the federal medical assistance percentage, which can be no lower than 50 percent.  In FY 2017, the federal share of current law Medicaid outlays are expected to be approximately $376.6 billion.

These are the most up-to-date key dollar amounts:

Divestment Penalty Divisors (Last Updated: 7/8/2016):

>> Northern Virginia:  $8,367
>> Rest of the Virginia$5,933
>> DC:  $10,333.00
>> MD:  $7,940.00

Individual Resource Allowance (Last Updated: 7/8/2016):
>> VA: 
$2,000
>> DC:  $4,000
>> MD: $2,500

Married Couple Resource Allowance (Last Updated: 7/8/2016):
>> VA:  $3,000
>> DC:  $6,000
>> MD: $3,000

Monthly Personal Income Allowance for Nursing Home Residents (Last Updated: 7/8/2016):
>> VA:  $40
>> DC:  $70
>> MD: $76

Monthly Personal Allowance for Virginia Community Based Medicaid (EDCD Waiver) (Last Updated: 7/8/2016):
$1,213 (165% of SSI Income Limit)

Shelter Standard:
>>VA
$600.75
>>MD $600.75

Standard Utility Allowance:
>> VA:  $275
>> DC:  $305
>> MD: $402

Medicaid Home Equity Cap: (These amounts are based on Medicaid.gov’s Spousal Impoverishment numbers for 2017.)
Minimum:
$560,000
Maximum:
$840,000

Minimum Community Spouse Resource Allowance (For all states, except Alaska and Hawaii)

2017: $24,180

Maximum Community Spouse Resource Allowance (For all states, except Alaska and Hawaii)

2017: $120,900

Minimum Monthly Maintenance Needs Allowance (For all states, except Alaska and Hawaii)

2017: $2,002.50

Maximum Monthly Maintenance Needs Allowance (For all states, except Alaska and Hawaii)

2017: $3,022.50 

Virginia Auxiliary Grant Income Limits:

2016:  Northern Virginia:  $1,402
2016:  Rest of Virginia: $1,221

Veterans Aid and Attendance Figures:

In 2017, the Veterans A&A Pension can provide:

  • Single sick Veteran ~ $21,531 per year / $1,794 per month
  • Healthy Veteran with sick spouse ~ $16,902 per year / $1,408 per month
  • Married sick Veteran ~ $25,525 per year / $2,127 per month
  • Married, Both Veterans sick ~ $34,153 per year / $2,846 per month
  • Surviving Spouse – $13,836 per year / $1,153 per month

Medicare Figures:

Medicare Deductibles, Premiums and Co-pays

Medicare has been protecting the health and well-being of American families and saving lives for five decades. In FY 2017, the Office of the Actuary has estimated that gross current law spending on Medicare benefits will total $709.4 billion. Medicare will provide health insurance to 58 million individuals who are age 65 or older, disabled, or have end-stage renal disease.

Medicare Part A Deductible

2017: $1,316 deductible for each benefit period
2016: $1,288 deductible for each benefit period

Medicare Part A Premium

Most people don’t pay a monthly premium for Part A. However, if you are one of the small number of people who don’t qualify for free Part A coverage and decide to purchase it on your own, you’ll pay:

2017: $413 each month
2016: $411 each month

Co-payment for hospital stay, days 61-90
2017: $329 per day
2016: $322 per day

Co-payment for hospital stay, days 91 and up
2017: $658 per day
2016: $644 per day

Co-payment for skilled nursing facility stay, days 21-100
2017: $164.50 per day
2016: $161 per day

Long-Term Care Insurance Premium Deductibility Limits

In 2017, the IRS will once again increase the amounts long-term care insurance customers can deduct from their federal income taxes. The IRS’s premium deductibility limits may assist those who itemize their medical expenses. See below for the maximum deductions based on attained age before the close of the taxable year.

40 or younger
2017: $410/yr
2016: $390/yr

41 to 50
2017: $770/yr
2016: $730/yr

51 to 60
2017: $1,530/yr
2016: $1,460/yr

61 to 70
2017: $4,090/yr
2016: $3,900/yr

Over 70
2017: $5,110/yr
2016: $4,870/yr

Social Security and Supplemental Security Income
Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 1.7 percent COLA for 2015. The increase was preceded by a 1.5 percent COLA for 2014, 1.7 percent COLA for 2013, 3.7% adjustment in 2012, and a 0% adjustment in 2010 and 2011. Find out more.

Retirement Earnings Test Exempt Amounts

Under full retirement age*
2015: $15,720/yr.($1,310/mo.)
2014: $15,480/yr.($1,290/mo.)

*One dollar in benefits will be withheld for every $2 in earnings above the limit.

The year an individual reaches full retirement age**
2015: $41,880/yr. ($3,450/mo.)
2014:  $41,400/yr. ($3,490/mo.)

**Applies only to earnings for months prior to attaining full retirement age. One dollar in benefits will be withheld for every $3 in earnings above the limit. There is no limit on earnings beginning the month an individualattains full retirement age.

Social Security and Supplemental Security Income
Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2014 through the third quarter of 2016, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 0.3% COLA for 2017. This increase was preceded by a 0% increase in 2016, a 1.7% Cost of Living Adjustment (COLA)for 2015, 1.5% COLA for 2014, 1.7% COLA for 2013, 3.7% adjustment in 2012, and a 0% adjustment in 2010 and 2011.
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Social Security Disability Thresholds
Substantial Gainful Activity (SGA)
Non-Blind
2017: $1,170/mo.
2016: $1,130/mo.
Blind
2017: $1,950/mo.
2016: $1,820/mo.
Maximum Social Security Benefit: Worker Retiring at Full Retirement Age
2017: $2,687/mo.
2016: $2,639/mo.

SSI Federal Payment Standard

Individual
2017: $735/mo.
2016: $733/mo.

Couple
2017: $1,103/mo.
2016: $1,100/mo.

Estimated Average Monthly Social Security Benefits Payable in January 2017

All Retired Workers
2017: $1,360
2016: $1,341

Aged Couple, Both Receiving Benefits
2017: $2,260
2016: $2,212

Widowed Mother and Two Children
2017: $2,695
2016: $2,680

Aged Widow(er) Alone
2017: $1,300
2016: $1,285

Disabled Worker, Spouse and One or More Children
2017: $1,996
2016: $1,983

All Disabled Workers
2017: $1,171
2016: $1,166