The Centers for Medicare and Medicaid Services (CMS) has released its Spousal Impoverishment Standards for 2018, confirming the earlier projections of Pennsylvania ElderLawAnswers member Robert Clofine, who based his estimates on the consumer price index for urban consumers for September.
The official spousal impoverishment allowances for 2018 are as follows (we include Medicaid’s home equity limits, which Clofine did not project):
Minimum Community Spouse Resource Allowance: $24,720
Maximum Community Spouse Resource Allowance: $123,600
Maximum Monthly Maintenance Needs Allowance: $3,090
The minimum monthly maintenance needs allowance for the lower 48 states remains $2,030 ($2,536.25 for Alaska and $2,333.75 for Hawaii) until July 1, 2018.
Home Equity Limits:
For CMS’s complete chart of the 2018 SSI and Spousal Impoverishment Standards, click here.
This article was reprinted with the permission of ElderLawAnswers.com. If you have any questions regarding the material in this article and how it applies to Iowa residents, please contact Pearson Bollman Law at 515-727-0986.