New Ohio Medicaid financial standards after cost of living adjustments

The Medicaid program helps pay for long term care (nursing home, assisted living, or in-home care) for many seniors.  The Medicaid rules allow the patient and the patient’s spouse to keep certain amounts of their savings and certain amounts from their monthly income.  As of January 2014, Ohio’s Medicaid program allows the following amounts:
Savings patient can keep: $1,500
Savings spouse at home can keep: $23,448 – $117,240
Monthly income patient can keep: $45
Monthly income allowance for spouse: $1,939 – $2,898
Monthly housing allowance for spouse at home: $582
Monthly utility allowance for spouse at home: $456
What Medicaid pays nursing homes each month: $6,114
Limit on equity in home:  $543,000

Note:  Because this information is an update of the Medicaid “financial standards,” it also appears on my website’s Medicaid page.

For more information visit www.ProtectingSeniors.com

Jim Koewler’s mission is
Protecting a Senior’s Life Savings™
from the costs of long term care

For help with long term care costs, call Jim
or contact him through his website.

© 2014 The Koewler Law Firm.  All rights reserved.

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