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 [...]

This past February, Jerry and I both blogged on the ABLE Act, which created a new type of tax-advantaged savings plans for the benefit of disabled individuals under § 529A of the federal Internal Revenue Code.  ABLE accounts will be somewhat similar to educational savings accounts established under I.R.C. § 529.  The new provision is important because § 529A provides the disabled ABLE account beneficiary with special treatment in determining the beneficiary’s financial eligibility for Medicaid. Normally, in order to be eligible for Medicaid in New Jersey, the Medicaid [...]