Medicaid in New York is a government medical assistance program that gives individuals and families access to health care that they may not have otherwise. New York Medicaid is also offered to people with disabilities and older adults needing help with the rising cost of long-term care in New York.
Understanding New York Medicaid Eligibility in Nassau County, Suffolk County, and New York City, NY
New York, like most states, allows a single applicant to own only $30,182 (in 2023) in non-countable assets (a primary residence and some other assets don’t count) to be financially eligible for Medicaid in Nassau, Suffolk, and surrounding New York counties. Other examples of assets that don’t count toward the $30,182 (in 2023) are certain life insurance policies and prepaid funeral and burial plots.
There are several important areas where New York Medicaid eligibility is very different than other states. For example, assets such as IRAs, qualified pension plans, and life estates have been treated much more favorably in New York.
Several New York Medicaid planning techniques can work for you, but the results can vary county by county. As Medicaid rules vary from state to state, it’s important to work with a New York Medicaid planning lawyer who is very familiar with the guidelines of Medicaid in New York.
New York Medicaid Rules
Unfortunately, it’s easy to make a mistake or get well-intentioned but bad advice regarding New York Medicaid planning. Whether you work with our New York law firm or not, please don’t go it alone when filling out your New York Medicaid applications.
MEDICAID AMOUNTS AFFECTING NEW YORK MEDICAID ELIGIBILITY
|2023 ASSET AND INCOME ALLOWANCES||One Person||Two Persons|
|Income Level *including $20 unearned income disregard||$1,697||$2,288|
|Medicaid Resource Level||$30,182||$40,821|
|2023 MEDICAID TRANSFER RATES FOR NURSING HOME CARE||Monthly Rates|
|Nassau and Suffolk Counties||$14,136|
|New York City||$14,142|
|Northern Metropolitan Area||$13,906|
|2023 COMMUNITY SPOUSE ALLOWANCES||Community Spouse|
|Maximum Monthly Maintenance Needs Allowance – MMMNA||$3,715.50|
|Maximum Community Spouse Resource Allowance – CSRA
*greater of: $74,820 or ½ of the married couple’s resources, not to exceed $148,620
|2023 NEW YORK HOMESTEAD EXEMPTION||$1,033,00|
Russo Law Group, P.C. helps you and your loved ones with Estate Planning, Elder Law, Special Needs Planning, New York Medicaid Planning, Trust & Estate, Guardianship, Small Business Planning, and Real Estate law. We welcome you to contact our Garden City, Lido Beach, or Islandia, New York, law offices to learn more about how we can help address your estate planning legal matters.
If you have questions or concerns about New York Medicaid eligibility and Medicaid applications in Long Island and New York City communities, please don’t hesitate to contact the Medicaid planning lawyers at Russo Law Group, P.C. While we have several office locations, we can also visit your home and offer virtual meetings for your convenience.