2016 Elder Law Numbers
The Centers for Medicare and Medicaid Services (CMS) has released the new Medicare premiums, deductibles, and co-payments for 2016:
- Basic Part B premium: $104.90/month * (no change from 2015)
- Part B deductible: $166 (was $147 in 2015)
- Part A deductible: $1,288 (was $1,260 in 2015)
- Co-payment for hospital stay days 61-90: $322/day (was $315 in 2015); Co-payment for hospital stay days 91-150: $644/day (was $630 in 2015)
- All costs for each day beyond 150 days
- Skilled nursing facility co-payment, days 21-100: $161/day (was $157.50 in 2015)
Also, note that individuals with annual incomes over $85,000 and married couples with annual incomes over $170,000 will pay a higher Medicare Part B premium, with a minimum monthly premium of $170.50.
CMS has also released the 2016 guidelines for how much spouses of institutionalized Medicaid recipients may keep.
- Maximum Community Spouse Resource Allowance: $119,220 (no change from 2015)
- Minimum Community Spouse Resource Allowance: $23,844 (no change from 2015)
- Maximum Monthly Maintenance Needs Allowance: $2,980 (no change from 2015)
- Minimum Monthly Maintenance Needs Allowance: $1,991.25 (thru June 30, 2016, was $1,966.25)
- Medicaid Waiver Benefits Income Cap: $2,199 per month (no change from 2015)
- Pennsylvania Medicaid penalty divisor: $9,198.61 ($302.42/day), as of 1/1/16
- New Jersey Medicaid penalty divisor: $10,116 ($332.59/day) since 4/1/15
*There will be no Social Security cost of living increase in 2016. As a result, most people with Medicare Part B will be “held harmless” from any increase in Part B premiums in 2016. Beneficiaries not subject to “held harmless” provision will pay $121.80. The premium increases relative to income. Medicare Part B beneficiaries not subject to the “hold harmless” provision are those not collecting Social Security benefits, those who will enroll in Part B for the first time in 2016, dual eligible beneficiaries who have their premiums paid by Medicaid and beneficiaries who pay an additional income related premium.