Skip to main content

BREAKING NEWS: UPDATED MEDICAID FIGURES

By May 15, 2023September 8th, 2023Uncategorized

NEW ALLOWABLE INCOME LIMIT and MONTHLY PENALTY DIVISOR

Rhode Island Department of Human Services – Medicaid Long Term Support Services – has advised that The Allowable Income Limit for 2022 through 3/31/2023 is $9.961 per month. Effective August 1, 2023 the new allowable income limit will be increased to $10,190.00 per month.

This figure is also used as the Penalty Period Divisor for calculating disqualifying transfers of assets. Meaning, for every $10,190 of assets transferred away where something of value was not received in return, will cause a disqualification of one (1) month of LTSS Medicaid benefits for the Applicant for those benefits.

A link to the Rhode Island Regulation on Eligibility Determinations (210-RICR-40-00-3) announcing the change can be found here. You will find the reference on page 9 of the proposed rule.

 

mm

Matthew J. Leonard, Esq. has devoted his practice to handling the legal needs of individuals and their business interests through all stages of life. As an attorney with the law firm of Salter McGowan Sylvia & Leonard, Inc., he has been engaged to handle matters from basic to sophisticated involving Estate Planning, Elder Law, Medicaid Planning, Probate, Trust and Estate Administration, Real Estate, Business Transactions, Business Creation and related litigation.