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When receiving Medicaid benefits under the Institutional Care Program (ICP), a Medicaid recipient is allowed to retain a portion of their income as their “personal needs allowance.” In Florida, the current personal needs allowance is $105/month, whether you are a single or married individual. This amount may seem very small, but when all of your expenses are otherwise met through your own income, Medicare, Medicaid, or other supplemental insurance, the $105/month personal needs allowance can be sufficient.
What can the personal needs allowance be spent on? The allowance is generally spent on items or services that will solely benefit the Medicaid recipient. These may include: clothing, toiletries and other personal hygiene products, vitamins or supplements, beauty or barber shop services, co-pays for prescriptions not otherwise covered by insurance, eyeglasses, hearing aids and batteries, and the list continues. Again, it can be spent on anything that will solely benefit the Medicaid recipient- use your best judgment.
Does the personal needs allowance need to be spent prior to the end of the month? The answer is no. Any allowance remaining can carry forward into the next month, so long as the Medicaid recipient assets do not exceed their allowed asset limit. If you have further questions or would like to schedule a consultation, please contact The Law Offices of Hoyt & Bryan at 407-977-8080 or info@HoytBryan.com.
About the Author: Peggy Hoyt Peggy R. Hoyt practices in the areas of family wealth and legacy counselling, including trust and estate planning and administration, elder law, small business creation, succession and exit planning, real estate transactions and animal law.