NYS Medicaid Increase in Income & Resource Limits!!
This is good news for many New Yorkers. The income and asset limits for Medicaid have been substantially increased for the first time in many years. 2023 Income limits for an individual has gone from $924 to $1,563 for an individual, and from $1,367 to $2,106 for a couple. The asset/resource limit for an individual goes from $16,800 to $28,133 for an individual, and $24,600 to 37,902 for a couple.
More good news is about the Medicare Savings Program! This is a program that pays for the monthly Medicare premium. Starting January 1, 2023, the income eligibility limit for QMB will increase from $1,153 to $1,563 for an individual and $1,546 to $2,106 for a couple. The income limit for QI will increase from $1,549 to $2,107 for an individual and $2,080 to $2,839 for a couple.
For more details on these changes please see this well written and comprehensive article by The Legal Aide Society