Many public benefit programs are adjusted annually after receiving a cost-of-living, or COLA, increase. Following are the increased benefit amounts of selected public benefit programs Including the 2018 COLA adjustment.

Social Security

• There will be a 2.0% COLA increase for Social Security benefits.
• Maximum Social Security benefit for a single individual retiring at full retirement age    $2,788
• Substantial Gainful Activity (SGA) – Disabled $1,180
• SGA – Blind    $1,970
• Trial Work Period           $850
• Maximum Social Security Wage Base      $128,700
• Quarter of Coverage earned after receiving earnings of   $1,320

Medicare

Part A

• Medicare Co-Payment – Skilled Nursing Facility (SNF) $167.50
• Hospital Deductible $1,340
• Per day Co-Insurance – Day 61 -90 $355
• Per day Co Insurance – Day 91-150 $670

Part B

• Medicare Part B Deductible  $183
• Standard Part B Premium    $134 (Note: Part B premiums increase based upon income, martial status and whether a married recipient files jointly or separately) 

Part D Cost-Sharing for 2018

• Annual Deductible Maximum $405
• Member Pays 25% of the Next…      $3,300 (25% = $825)
• Initial Benefit Period Maximum    $3,750 ($400 + $3,300)
• Donut Hole Threshold    $3,725

(Brand name drugs: 50% + 5% plan “subsidy,” Generic drug: 49% subsidy)

• Catastrophic Coverage   $5,000 ($400 + $825 + $3,725)
• Catastrophic cost-sharing:  Generic           $3.35/$8.35 or 5% (whichever is greater)
• Catastrophic cost-sharing: Brand        $7.40 or 5% (whichever is greater)

Supplemental Security Income (SSI)

• SSI – Single  $750
• SSI – Couple   $1,125
• New Jersey State Supplement to SSI – $31.25 Single, Living Alone
• New Jersey State Supplement to SSI – $25.36 Couple, Living Alone

• Maximum Annual SSI benefit – Single $9,000
• Maximum Annual SSI benefit – Couple $13,500

Medicaid

• Income Cap $2,250
• Maximum Community Spouse Resource Allowance (CSRA) $123,600
• Minimum CSRA $24,720
• Maximum Minimum Monthly Maintenance Needs Allowance (MMMNA) $3,090
• MMMNA (July 1, 2017 until June 30, 2018) $2,030
• Excess Shelter Allowance (July 1, 2017 until June 30, 2018) $609
• Maximum Resource Limit (Individual) $2,000
• Minimum and Maximum Cap on Equity in the Home $572,000 –$858,000
• Nursing Facility Personal Needs Allowance $50 per month for 2018

Veterans Aid & Attendance and Household Benefits

Aid and Attendance

• Veteran with no dependents $1,830 per month
• Veteran with one dependent $2,169 per month
• Spouse of deceased Veteran with no dependent $1,176 per month

Housebound Benefits

• Housebound Veteran, no dependents $1,340 per month
• Housebound Veteran, one dependent $1,688 per month
• Housebound spouse of deceased Veteran, no dependent $899 per month

Tax

• Annual Gift Tax Exclusion      $15,000
• Gifts to Non-Citizen Spouse $152,000
• Income Level/Maximum Tax Estates and Trust    $12,700
• Income Level/Maximum Single Individual Income Tax    $426,700
• Federal Estate Tax Exemption $5,600,000

For additional information concerning estate planning and administration, visit:

Estate Planning and Administration

For additional information concerning NJ elder law and special needs planning visit:

NJ Elder Law and Estate Planning Services