Effective January 1, 2015, changes occur to several eligibility criteria for Florida Medicaid benefits for long-term care costs. A summary of the changes:
Asset cap for the community (well) spouse: The well spouse is entitled to retain up to $119,220 in assets, plus exempt, non-available and income-producing assets. Prior figure was $117,240.
Income cap for Medicaid applicant: The Medicaid applicant's gross monthly income cannot exceed $2,199, up from $2,163. If the applicant's income exceeds that level, a qualified income trust (also known as a Miller Trust), composed solely of the applicant's income, must be established in order to establish eligibility.
Homestead: The applicant's equity interest in the homestead may not exceed $552,000. The prior figure was $543,000.
Look-Back: Effective January 1, 2015, there is a 5-year look-back for all uncompensated transfers.