Florida updates its qualification levels for Long-Term Medicare twice annually. The calendar year update generally deals with asset and income levels while the mid-year update has to do with spousal qualification and other minor aspects. The full financial updates were updated on July 1, 2018, so here are the updated financial aspects for Medicaid qualification for nursing home, assisted living and long-term care.
|Assets for Single Applicant||$2,000||$2,000|
|Assets allowed for Community Spouse||$120,900||$123,600|
|Gross income limit for Medicaid Applicant*||$2,205/m||$2,250/m|
|Gross income limit for Community Spouse||Unlimited||Unlimited|
|Minimum Spousal Income Diversion||$2,030/m||$2,058/m|
|Maximum Spousal Income Diversion||$3,022.50/m||$3,090/m|
|Exempt value of homestead||$560,000||$572,000|
|Transfer Penalty Divisor||$8,944||$9,171|
|Community Spouse Housing Allowance||$609/month||$617/month|
|Medicare Co-Pays for Skilled Nursing (days 21-100)||$164.50/day||$167.50/day|
|*Income Trust needed for income over this amount|
If you need help with Medicaid for your elder, please feel free to attend one of our monthly seminars on Medicaid and asset protection planning!
If you are married and looking to place your spouse into long-term care, learn more about spousal income diversion rules here.