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2016 Medicare and Medicaid Numbers

The following are the 2016 Medicare and Medicaid numbers as released by the Centers for Medicare & Medicaid Services, as well as the 2016 federal and New Jersey estate and gift tax numbers:
 


The following are the 2016 Medicare and Medicaid numbers as released by the Centers for Medicare & Medicaid Services, as well as the 2016 federal and New Jersey estate and gift tax numbers:
 

MEDICAID
 
Income Cap $2,199
Maximum Community Spouse Resource Allowance (CSRA) $119,220
Minimum CSRA $23,844
Maximum Minimum Monthly Maintenance Needs Allowance $2,980.50
MMMNA (through June 30, 2016) $1,991.25
Maximum Resource Limit (Individual) $2,000
Minimum and Maximum Cap on Equity in the Home $552,000 - $828,000
MEDICARE

Part A
Medicare Co-Payment - Skilled Nursing Facility (SNF) $161
Hospital Deductible $1,288
Per day Co-Insurance- Day 61 - 90 $333
Per day Co Insurance- Day 91-150 $644
Part B
Medicare Part B Deductible $166
Standard Part B Premium $104.90

FEDERAL AND NEW JERSEY ESTATE AND GIFT TAX AMOUNTS

Federal estate tax exemption amount: $5,450,000 per individual
Lifetime exclusion from gift tax: $5,450,000 per individual
Generation-skipping transfer tax exemption: $5450,000 per individual
Non-citizen spouse annual gift tax exclusion: $148,000
Annual exclusion from gift tax: $14,000 per donee. 

New Jersey estate tax exemption: $675,000
New Jersey gift tax exemption: N/A (no gift tax in New Jersey)

  • Partner

    Jason Marx brings experience, compassion and a considerable knowledge of tax law to his work in estates, elder law and special needs planning. He primarily advises clients who face the challenge of caring for elderly or special needs ...

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