The 2008 Community Spousal Resource Allowance
has now been increased to $104,400.00 ($101,640.00 for 2007). This is the minimum
amount of non-exempt assets a well spouse can maintain and still qualify the ill
spouse for Medi-Cal assistance if the spouse must enter a skilled nursing facility.
This amount does
not include the exempt assets which are not included in determining Medi-Cal eligibility.
Some of these exempt assets are the family residence, burial plots, and an automobile.
The
well spouse is also allowed a mimimum monthly Community Spousal Resource Allowance
($2,541.00 in 2007) for 2008 will be $2610.00 before any any monthly income is
allocated to the nursing home for payment of the ill spouses's "share of
cost." The current Divestment Penalty Divisor for the year 2008 is now $5,496.00.
Legal
assistance understanding the eligibility rules is helpful.
Recent
articles published on this topic:
*
Report Highlights Successes, Problem with Reverse Mortgages
The Magazine of
Santa Clarita - September, 2008
*Questions and Answers Regarding Medi-Cal and
Estates
The Magazine of Santa Clarita - August, 2008
Avoiding a Medi-Cal
Estate Claim Against the Family Home
The Magazine of Santa Clarita - July,
2008
* New Developments In Capital Gain, Property Taxes
The Magazine of
Santa Clarita - June, 2008 and
The Signal - "Its the Law" - June
13, 2008
*New AARP Pamphlet "Prepare to Care" a Planning Guide for
Families
The Magazine of Santa Clarita - May - 2008
*Should I Consider Claiming
My Parent as a Dependent?
The Magazine of Santa Clarita - January - 2008
*Rights
of Cohabitating Seniors
Santa Clarita Valley Signal - November 16, 2007
*You
Could Be Held Responsible For the Debts of Your Parents
Santa Clarita Valley
Signal - September 7, 2007
* The Five Wishes Advance Directive - Now Available
in Twenty Languages
The Magazine of Santa Clarita - September - 2007
* We
Are Responsible For Our Own Debts.....But Our Parents' Too?
The Magazine of
Santa Clarita - August - 2007
*Communication is the Key in Caregiving
The
Magazine of Santa Clarita - July - 2007
*Social Service Information Available
on 211 Hotline
The Magazine of Santa Clarita - June - 2007
*Coping with
the Hospitalization of a Loved One
Santa Clarita Valley Signal - May 4, 2007
* Updates on Estate Taxes and Medi-Cal
The Magazine of Santa Clarita -
May 2007
* Cohabitating Seniors Should Protect Their Rights
The Magazine
of Santa Clarita - April 2007
*How to Prepare When Elderly Parents Move In
The Magazine of Santa Clarita - February, 2007
*Social Assistance on New 211
Hot Line
Santa Clarita Valley Signal - January 5, 2007
Links to magazines: http://www.santaclaritamagazine.com;
http://www.the-signal.com
The
information here is presented as a guide.
Please consult an attorney for
specific advice.
