2008
Updates |
|
| Provided by: |
LTC Consultants |
HIPAA:
Attained age before the close of the taxable year: |
Amount that counts as a medical expense: |
40 or less |
$310 |
41 - 50 |
$580 |
51 - 60 |
$1,150 |
61 - 70 |
$3,080 |
71 and older |
$3,850 |
Indemnity policies: Benefit payments above
$270 per day that exceed the actual cost of care will be
taxed as income.
Self-Employed Long-Term Care Insurance Deductions: 100%
of age-based limits
Medicare:
| Part A Deductible
| $1,024 |
| Skilled Nursing Facility Coinsurance |
$128.00 days
21-100 |
| Part B Deductible |
$135 |
| Part B Premium |
$96.40 (incomes below $82,000) |
Qualified Medicare Beneficiary
(2008 income limits released in 2/08) |
Indiv: $850, Couple: $1,140 |
Medicaid: Click here to see state-specific Medicaid information
Spouse's minimum asset allowance |
$20,880 |
| Spouse's maximum asset allowance |
$104,400 |
| Spouse's minimum income allowance |
$1,711 (effective 7/1/07-6/30/08) |
| Excess shelter allowance |
$513 (effective 7/1/07 - 6/30/08) |
| Spouse's maximum income allowance |
$2,610 |
| Income cap states |
$1,911 |
Health Savings Accounts:
(Minimum Deductible $1,100 Ind/$2,200 Fam)
| Individual
= maximum contribution of $2,900. Add'l 2008 contribution
of $900 for 55+; $5,600 out-of-pocket max. |
Family =
maximum contribution of $5,800.
Add'l 2008 contribution
of $900 for 55+; $11,200 out-of-pocket max. |
|
