As federal benefits increase this year, our Elder Law and Estate Planning attorneys are on hand to help you navigate these government programs, eligibility requirements and planning opportunities. Contact us at 631.390.5000.
Social Security Benefits
1.7% increase
Veteran’s Benefits
Aid and Attendance Pension Benefit:
Single Veteran: $1,732
Married Veteran: $2,054
Surviving Spouse: $1,113
Medicare Benefits
Hospital Deductible: $1,184
Co-insurance (days 61-90): $296/day
Skilled Nursing Facility Co-insurance (days 21-100*): $148/day
*if medically eligible
Medicaid Benefits
Institutional Benefits:
Resource Allowance: $14,400
Income Allowance: $50
Community Spouse Resource Allowance: $115,920
Community Spouse Income Allowance: $2,898
Home Equity Limit: $802,000
Community/Home Care Benefits:
Resource Allowance: $14,400
Income Allowance: $800
Community Spouse Resource Allowance: $21,150
Community Spouse Income Allowance: $1,175
Estate and Gift Taxes
Federal Unified Credit (tax exemption): $5,250,000 (indexed for inflation)
Annual Gift Tax Exclusion: $14,000 (per year/per beneficiary)