The Centers for Medicare & Medicaid Services has released the community spouse resource allowances (CSRA) and the maximum monthly maintenance needs allowance for 2004. The new minimum CSRA is $18,552 and the new maximum is $92,760. The maximum monthly maintenance needs allowance is $2,319. The new figures are effective January 1, 2004.
The minimum monthly maintenance needs allowance, currently $1,515, will not change until new poverty thresholds for 2004 are published. The new figure will become effective no later than July 1, 2004.
Key Numbers for 2004
Georgia:
Community Spouse Resource Allowance (CSRA)(Changes annually on January 1): $92,760
Allowance for Individual: $2,000
Increased CSRA: Permitted. Tennessee follows the income-first rule.
Annuities: Actuarially sound annuities are permitted.
Monthly Maintenance Needs Allowance (Changed annually on July 1): $2,319
Monthly Personal Needs Allowance: $30
Transfers: Average monthly cost of nursing home care according to state is $3,860 (as of 4/1/04)
Estate Recovery: None at present, but Georgia has announced that estate recovery will be implemented during FY2004. Thus far, no details regarding that program or its scope have been announced.
Tennessee:
Community Spouse Resource Allowance (CSRA)(Changes annually on January 1):
Minimum: $18,552
Maximum: $92,760
Allowance for Individual: $2,000
Increased CSRA: Permitted. Tennessee follows the income-first rule.
Annuities: Actuarially sound annuities are permitted.
Monthly Maintenance Needs Allowance (Changed annually on July 1):
Minimum: $1,515
Maximum: $2,319
Monthly Personal Needs Allowance: $30
Transfers: Average monthly cost of nursing home care according to state is $3,394
Estate Recovery: Limited to probate estate (FY2004)
SSI Income and Resource Limits, Special Income Level, SSI Break-Even Points, and Spousal Impoverishment Standards
© 2004, Law Office of David L. McGuffey, LLC
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