2010
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 |
$330 |
41 - 50 |
$620 |
51 - 60 |
$1,230 |
61 - 70 |
$3,290 |
71 and older |
$4,110 |
Indemnity policies: Benefit payments above
$290 per day that exceed the actual cost of care will be
taxed as income. [IRS Revenue Procedure 2009-50.21 and 2009-50.38]
Self-Employed Long-Term Care Insurance Deductions: 100%
of age-based limits
Medicare:
| Part A Deductible
| $1,100 |
| Skilled Nursing Facility Coinsurance |
$137.50 days
21-100 |
| Part B Deductible |
$155 |
| Part B Premium |
$96.40 (incomes below $85,000 individual/ $170,000 joint) |
| Qualified Medicare Beneficiary |
Indiv: $903, Couple: $1,214 |
Medicaid: Click here to see state-specific Medicaid information
Spouse's minimum asset allowance |
$21,912 |
| Spouse's maximum asset allowance |
$109,560 |
| Spouse's minimum income allowance |
$1,822 (effective 7/1/09-6/30/10) |
| Excess shelter allowance |
$547 (effective 7/1/09 - 6/30/10) |
| Spouse's maximum income allowance |
$2,739 |
| Income cap states |
$2,022 |
Health Savings Accounts:
(Minimum Deductible $1,200 Ind/$2,400 Fam)
| Individual
= maximum contribution of $3,050. Add'l 2010 contribution
of $1,000 for 55+; $5,950 out-of-pocket max. |
Family =
maximum contribution of $6,150.
Add'l 2010 contribution
of $1,000 for 55+; $11,900 out-of-pocket max. |
|
