Number of Medicaid Nursing Home Beds |
39,823 |
Average Cost of Nursing Home Per Month* |
$6,722 |
Percent of Population Aged 65 or Older |
13.10% |
Anticipated Percent of Growth of 65+ Population by 2032 |
61% |
*Based on Genworth Cost of Care Survey 2020 |
Individual Resource Allowance |
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Resource Allowance for a Couple |
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Divestment Penalty Divisor |
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IRAs Owned by the Institutionalized Individual |
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IRAs Owned by the Community Spouse |
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Personal Needs Allowance |
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Qualified Income Trust (Miller Trust) State |
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Income Cap |
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Community Spouse Resource Allowance |
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Monthly Maintenance Needs Allowance |
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Irrevocable |
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Non-Assignable |
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Actuarially Sound |
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Equal Monthly Payments |
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State as Beneficiary |
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Home Equity Limit |
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Funeral Expense Trust Limits |
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Life Insurance Limit |
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Updated: January 1, 2022
Krause Financial Services offers the information on this page as a courtesy. Our Company monitors state-specific information on an on-going basis to maintain up-to-date figures. However, given the frequency with which these figures change, we cannot guarantee that these figures will be free from error or discrepancy. Please notify us if you identify any facts or figures you believe to be out of date.