All the 2020 Numbers You Need to Know for Medicaid & Veterans Benefits

2020 Georgia Medicaid Quick Facts

Asset Limit Single Applicant – $2,000

Asset Limit Community Spouse – $128,640

Monthly Income Limit – $2,349

Spousal Diversion – $3,216

Burial Designation – $10,000

Personal Needs Allowance – $70

Transfer Penalty Divisor – $6,768

A Community Spouse is a legal spouse of a Medicaid applicant who is not applying for Medicaid. A Spousal Diversion is the amount of household income a Community Spouse is permitted to keep if his or her individual income is below this limit.

The balance in retirement accounts (such as an IRA or 401k) does not count against the applicable asset limit. The distributions from these accounts are countable as income in the month received.

Homeplace property is not a countable asset. However, it is subject to Medicaid Estate Recovery after a Medicaid recipient’s death.

Burial designations include Term-Life Insurance, the face value of Whole Life Insurance, a Burial Savings Account, and/or the countable portion of a pre-need burial contract.

2020 VA Aid & Attendance Quick Facts

Maximum Pension Amount Single Veteran – $1,911/mo

Maximum Pension Amount Married Veteran – $2,266/mo

Maximum Pension Amount Surviving Spouse – $1,228/mo

Applicants must have a net worth below $129,094 (excluding home and certain personal belongs)

Transfer Penalty Divisor – $2,226

Monthly Income for VA Purposes (IVAP) equals gross income minus monthly medical expenses. If the IVAP is less than zero, the applicant receives the maximum monthly amount. If the IVAP is greater than zero, the applicant receives only enough pension to bring the IVAP to the maximum benefit.

Eligible Wartime Periods:

World War II – December 7, 1941 – December 31, 1946

Korean Conflict – June 27, 1950 – January 31, 1955

Vietnam era – August 5, 1964 – May 7, 1975

Troops in Vietnam – February 28, 1961 – May 7, 1975

Note:  Each VA claim is unique and the above criteria is generic in nature and may not be applicable to each claimant. There are never any guarantees that any claim or specific benefit amount will be awarded.

Legal Disclaimer:  This information has been provided for informational purposes only. It does not constitute legal advice. Proper legal advice can only be given based on the specific facts and relevant law for each individual. Therefore, you should always seek appropriate counsel before acting upon the information contained herein.