1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution
Krause Financial Services Logo

Important Elder Law Number Updates for 2013

Social Security and Supplemental Security Income The Social Security Administration recently announced that the monthly Social Security and Supplemental Security Income benefits will increase by...

 
PRLog - Nov. 20, 2012 - DE PERE, Wis. -- Social Security and Supplemental Security Income
The Social Security Administration recently announced (http://www.ssa.gov/cola/) that the monthly Social Security and Supplemental Security Income benefits will increase by 1.7% in 2013.  This increase is preceded by a 3.7% adjustment in 2012, and a 0% adjustment the two years prior.  This increase is also one of the lowest since 1975 - when automatic adjustments started.

Medicare Deductibles, Premiums and Co-pays
The Centers for Medicare and Medicaid Services recently announced (http://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html) an increase in Part B premiums and a decrease in Part A premiums for 2013.

Medicare Part A Deductible: $1,184 (was $1,156 in 2012)
Medicare Part B Deductible: $148 (was $140 in 2012)
Medicare Part A Premium: $441 (was $451 in 2012)
Medicare Part B Premium: $104.90 (was $99.90 in 2012)
Co-payment for hospital stay, days 61-90: $296 per day (was $289 in 2012)
Co-payment for hospital stays, days 91 and up: $592 per day (was $578 in 2012)
Co-payment for skilled nursing facility stay, days 21-100: $148 per day (was $144.50 in 2012)

LTCI Federal Tax Deductibility Figures
The Internal Revenue Service recently announced (http://www.aaltci.org/news/long-term-care-insurance-assoc...) increased deductibility levels for individuals purchasing long-term care insurance policies in 2013.

Age 40 or less: $360 (was $350 in 2012)
More than 40 but less than 50: $680 (was $660 in 2012)
More than 50 but less than 60: $1,360 (was $1,310 in 2012)
More than 60 but less than 70: $3,640 (was $3,500 in 2012)
More than 70: $4,550 (was $4,370 in 2012)

Spousal Impoverishment Standards
The Center for Medicare and Medicaid Services recently announced (http://www.medicaidannuity.com/LinkClick.aspx?fileticket=...) the Spousal Impoverishment Standards and Home Equity Standards for 2013.

Minimum Community Spouse Resource Allowance: $23,184 (was $22,728 in 2012)
Maximum Community Spouse Resource Allowance: $115,920 (was $113,640 in 2012)
Maximum Monthly Maintenance Needs Allowance: $2,898 (was 42,841 in 2012)
Income Cap Limit: $2,130 (was $2,094 in 2012)
Minimum Home Equity Limit: $536,000 (was $525,000 in 2012)
Maximum Home Equity Limit: $802,000 (was $786,000 in 2012)

--- End ---

Click to Share

Contact Email:
***@medicaidannuity.com Email Verified
Source:Krause Financial Services
Phone:(866) 605-7437
Zip:54115
Location:De Pere - Wisconsin - United States
Industry:Insurance, Legal
Tags:medicaid planning, medicare, nursing home care
Shortcut:prlog.org/12027714
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share