New Jersey issued updated numbers for calculating Medicaid eligibility in 2008. They are:

Minimum Community Spouse Resource Allowance – $20,880.00
Maximum Community Spouse Resource Allowance – $104,400.00
Resource Allowance for an Individual – $2,000.00
Resource Allowance for a Couple (both husband and wife in a nursing home) – $3,000.00
Minimum Monthly Maintenance Needs Allowance through July 2008- $1,711.25
Maximum Monthly Maintenance Needs Allowance through July 2008- $2,610.00
Monthly Personal Needs Allowance – $35.00
Shelter Standard – $514.00

Standard Utility Allowance:

• $344.00 – heating
• $210.00 – non-heating
• $29.00 – telephone

Average Cost of Nursing Home – $6,942.00
Income Cap Amount – $1,911.00
Home Equity Limit – $750,000.00

Updated numbers for Social Security and Medicare benefits follow:

Social Security and SSI

2.3% Social Security Increase
$637 SSI – Single
$956 SSI – Couple
$940 SGA – Disabled
$1,570 SGA – Blind
7.65% Tax Rate Employee
15.30% Tax Rate Self Employed
$102,000 Maximum Taxable Earnings
$1,050.00 Quarter of Coverage
$670.00 Trial Work Period
$2,185.00 Maximum Social Security Benefit

Medicare

Medicare Part B Premium
$135/year Deductible
$96.40/month Standard Premium ($82,000 income or less)

Skilled Nursing Facility Coinsurance
$0 Days 0-20
$128/day Days 21-100