In 2022, as with each new year, Medicare premiums, Social Security earnings, tax limits, and the minimum wage change. The beginning of the new year is a good time to review your estate plan to ensure it meets your needs.
Here is a summary of the important 2022 numbers you need to know for your retirement, estate planning, and special needs planning:
| Medicare Part A | |
| Hospital Co-Pay per Benefit Period | $1556.00 |
| Skilled Nursing Facility Per Day Co-Pay for Days 1 – 20 | $0.00 |
| Skilled Nursing Facility Per Day Co-Pay for Days 21 – 100 | $194.50 |
| Medicare Part B | |
| Premium Per Month for Individuals with less than $91,000/year income | $170.10 |
| Premium Per Month for Individuals making more than $91,000/year | $238.10-$578.30 |
| Yearly Deductible | $198.00 |
| Social Security | |
| Cost of Living Adjustment (COLA) | 5.9% |
| Maximum Benefit at Full Retirement | $4,330.00 |
| Maximum Taxable Earnings | $147,000.00 |
| Substantial Gainful Activity Limit (Not Blind) | $1,350.00 |
| Substantial Gainful Activity Limit (Blind) | $2,260.00 |
| Supplemental Security Income (SSI) | |
| Individual Maximum Benefit Rate | $841.00 |
| Couple Maximum Benefit Rate | $1,261.00 |
| Individual Maximum Resource Limit | $2,000.00 |
| Couple Maximum Resource Limit | $3,000.00 |
| Medicaid (SSI Related Programs) | |
| Individual Income Limit | $2,523.00 |
| Individual Asset Limit (Countable Assets) | $2,000.00 |
| Couple Asset Limit (Countable Assets) | $3,000.00 |
| Maximum Community Spouse Resource Allowance | $137,400.00 |
| Minimum Community Spouse Resource Allowance | $27,480.00 |
| Maximum Monthly Maintenance Needs Allowance | $3,435.00 |
| Minimum Monthly Maintenance Needs Allowance | $2,117.50 |
| Minimum Home Equity Limit | $636,000.00 |
| Maximum Home Equity Limit | $955,000.00 |
| Florida Medicaid Transfer Penalty Divisor | $9,9703 |
| Florida Monthly Personal Needs Allowance (in nursing home) | $130.00 |
| Montana Medicaid Transfer Penalty Divisor (2022) | $252.18 per day |
| Montana Monthly Personal Needs Allowance (in nursing home) | $50.00 |
| Veterans Benefits (Pension, Aid & Attendance) | |
| Net Worth Limit for Pension (Until November 30, 2022) | $138,489.00 |
| Maximum Annual Pension Rate (Single Veteran) Annual | $14,753.00 |
| Housebound (Single Veteran) Annual | $18,029.00 |
| Aid & Attendance (Single Veteran) Annual | $24,610.00 |
| Maximum Annual Pension Rate (Widow) Annual | $19,951.00 |
| Housebound (Widow) Annual | $15,144.00 |
| Aid & Attendance (Widow) Annual | $18,867.00 |
| Estate & Gift Taxes | |
| Gift Tax Exemption | $11.58 million |
| Estate Tax Exemption | $11.58 million |
| Annual Gift Tax Exclusion | $15,000.00 |
| Miscellaneous Important Numbers | |
| Florida Hourly Minimum Wage | $10.00 |
| Montana Hourly Minimum Wage | $9.20 |
| Federal Hourly Minimum Wage | $7.25 |
| IRS Mileage Rate Per Mile | 58.5 cents |
| ABLE Account Contribution Limit | $16,000.00 |
| ABLE Account Limit | $100,000.00 |
