What You Need to Know for 2018: Medicare and Medicaid New Jersey Figures
January 10, 2018
Medicare and Medicaid recipients will notice some changes to their benefits in 2018. People becoming eligible for Medicare this year should be aware of the costs associated with each service. Medicaid costs vary by state. Here are some of the significant 2018 Medicare figures and Medicaid information for New Jersey.
Medicare Part A Costs
In 2018, the benefit period deductible for Medicare Part A is $1,340.
Hospital stay costs are:
- $0 co-insurance for the first 60 days of each benefit period
- $335 per dayco-insurance fordays 61-90 of each benefit period
- $670 per “lifetime reserve day” co-insurance after day 90 of each benefit period (up to a maximum of 60 days over your lifetime)
Skilled nursing facility stay costs are:
- $0 for the first 20 days of each benefit period
- $167.50 per day for days 21-100 of each benefit peiod
- All costs for each day after day 100 of the benefit period
Medicare Part B Costs
The cost for Medicare Part B varies based on income and whether a person is receiving Social Security benefits with their Medicare coverage. People who receive Social Security benefits will be notified as to the amount of their standard Part B monthly premium. For 2018, the standard amount is $134 or higher, however most people receiving Social Security benefits pay $130 on average. The Medicare part B annual deductible for 2018 is $183 per year.
Medicaid Figures for New Jersey
- The Individual Resource Allowance is $2,000. The resource allowance for a couple who both reside in a facility is $3,000.
- The Community Spouse Resource Allowance minimum is $24,720 with a maximum of $123,600.
- The Monthly Maintenance Needs Allowance minimum is $2,030 and the maximum is $3,090.
- Medicaid Monthly Personal Needs Allowance is $50 per month.
- Medicaid Divestment Penalty Divisor is $423.95 per day.
- The Medicaid Income Cap Limit for program eligibility has increased to$2,250 per month. Medicaid recipients with income higher than $2,250 per month can maintain eligibility with a Qualified Income Trust, otherwise known as a Miller Trust.
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