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:
| 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 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 |
| 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)
