Elder Law Quick Facts
At the beginning of each year, there are changes in the eligibility requirements for Medicaid and benefit amounts for VA Aid and Attendance. This is because these numbers change with each Social Security change, and Social Security changes go into effect on January 1st of each year.
1.3% increase in Social Security benefits
Social Security recipients have a 1.3% cost-of-living adjustment (COLA) in their monthly benefits starting today. This means that the average retired Social Security beneficiary is expected to see a monthly increase of about $20 per month or $240 for the year.
Medicare premiums and co-pays have increased
For 2021, Medicare Part B premiums are going up by $3.90 and are now $148.50/month.
This means changes for Medicaid and VA Benefits
The COLA changes for Social Security impact Medicaid eligibility as well as VA benefit amounts. Here are the updated numbers for 2021:
2021 Georgia Nursing Home Medicaid Eligibility Limits
|Income – Maximum per month||$2,382|
|Assets – Maximum per applicant(s)||$2,000||$3,000|
|Income – Maximum monthly maintenance allowance for a community spouse||$3259.50|
|Assets – Maximum for applicant with a community spouse||$130,380|
|Transfer penalty divisor (2020 -updated mid-year)||$8,517|
2021 Monthly VA Aid and Attendance Maximum Pension Rates
Single Veteran – $1,936
Married Veteran – $2,295
Widowed Spouse – $1,244
To learn more about how VA Benefits and Medicaid can work for your family, please contact our office at (404) 843-0121 or check out the Hurley Elder Care Law website.