The new year brings some important changes to the Oregon Medicaid eligibility figures. Effective January 1, 2018:
The Supplemental Security Income (SSI) benefit standard is now $750/month for an individual and $1,125/month for a couple;
The personal needs allowance has increased to $61.38/month for nursing home residents ($90/month for an individual receiving a VA pension) and $167/month for residents in other community based care settings;
The room & board rate for waivered community based care facilities increased to $583/month;
The Long Term Care Income Cap increased to $2,250/month
The MinimumCommunity Spouse Resource Standard is now $24,720
Families taking advantage of ABLE savings accounts will have a little more flexibility in planning for special needs as a result of the new Tax Cuts and Jobs Act signed into law by President Trump on December 22, 2017.
As I previously noted on this blog, ABLE accounts, created by Congress via the passage of the Achieving a Better Life Experience (ABLE) Act in 2014, allow people with disabilities and their families to save for disability related expenses, while maintaining eligibility for Medicaid and other means-tested public benefits programs.
In 2018, people can contribute up to $15,000.00 annually into qualified ABLE accounts. A provision in the new tax law allows families who have saved money in 529 savings accounts to rol...