Income limits for Nursing Home Medicaid (effective 1/1/2022)
With the upcoming increases in Social Security Administration (SSA) benefits for 2022, Medicaid has finally announced the income limits for those on or seeking Medicaid benefits for nursing home assistance (ICP Medicaid) for 2022.
Effective January 1, 2022, a Medicaid applicant or recipients gross monthly income cannot exceed $2,523.00 per month. That is a nearly $150 increase over the income limit for 2021.
What happens if your income is greater than $2,523.00 per month? Are you ineligible for benefits? The answer to that is generally no, you can still obtain valuable Medicaid nursing home benefits! If your income exceeds the limit, a qualified income trust (a/k/a Miller Trust or QIT) which is comprised exclusively of the applicant's income, may be established and utilized in order to qualify or maintain eligibility.
To learn more about your options or to establish a Qualified Income Trust call us 24/7 at 305.722.5533 or email us at email@example.com.
Wishing everyone a happy and healthy new year!