Each new year Medicare premiums, Social Security earnings, tax limits, and the minimum wage change. Here is a summary of the important 2018 numbers you need for your retirement, estate planning, and special needs planning:
| Medicare Part A | |
| Hospital Co-Pay per Benefit Period | $1340.00 |
| Skilled Nursing Facility Per Day Co-Pay for Days 1 – 20 | $0.00 |
| Skilled Nursing Facility Per Day Co-Pay for Days 21 – 100 | $167.50 |
| Medicare Part B | |
| Premium Per Month for Individuals with less than $85,000/year income | $134.00/$109.00 |
| Premium Per Month for Individuals making more than $85,000/year | $187.50-$482.60 |
| Yearly Deductible | $183.00 |
| Social Security | |
| Cost of Living Adjustment (COLA) | 2% |
| Maximum Benefit at Full Retirement | $2,788.00 |
| Maximum Taxable Earnings | $128,400.00 |
| Substantial Gainful Activity Limit (Not Blind) | $1,180.00 |
| Substantial Gainful Activity Limit (Blind) | $1,970.00 |
| Supplemental Security Income (SSI) | |
| Individual Maximum Benefit Rate | $750.00 |
| Couple Maximum Benefit Rate | $1,125.00 |
| Individual Maximum Resource Limit | $2,000.00 |
| Couple Maximum Resource Limit | $3,000.00 |
| Medicaid (SSI Related Programs) | |
| Individual Income Limit | $2,250.00 |
| Individual Asset Limit (Countable Assets) | $2,000.00 |
| Couple Asset Limit (Countable Assets) | $3,000.00 |
| Maximum Community Spouse Resource Allowance | $123,000.00 |
| Minimum Community Spouse Resource Allowance | $24,720.00 |
| Maximum Monthly Maintenance Needs Allowance (until 6/30/18) | $3,090.00 |
| Minimum Monthly Maintenance Needs Allowance (until 6/30/18) | $2,030.00 |
| Minimum Home Equity Limit | $572,000.00 |
| Maximum Home Equity Limit | $858,000.00 |
| Florida Medicaid Transfer Penalty Divisor (until 5/30/18) | $8,944.00 |
| Montana Medicaid Transfer Penalty Divisor (2017) | $6,818.81 |
| Veterans Benefits (Pension, Aid & Attendance) | |
| Basic Improved Pension (Single Veteran) Monthly | $1,075.00 |
| Housebound (Single Veteran) Monthly | $1,314.00 |
| Aid & Attendance (Single Veteran) Monthly | $1,794.00 |
| Basic Improved Pension (Widow) Monthly | $721.00 |
| Housebound (Widow) Monthly | $881.00 |
| Aid & Attendance (Widow) Monthly | $1,153.00 |
| Estate & Gift Taxes | |
| Gift Tax Exemption | $5.6 million* |
| Estate Tax Exemption | $11.2 million |
| Annual Gift Tax Exclusion | $15,000.00* |
| Miscellaneous Important Numbers | |
| Florida Hourly Minimum Wage | $8.25 |
| Montana Hourly Minimum Wage | $8.30 |
| Federal Hourly Minimum Wage | $7.25 |
| IRS Mileage Rate Per Mile | 54.5 cents |
| ABLE Account Contribution Limit | $15,000.00* |
| ABLE Account Limit | $418,000.00 |
To compare to 2017, visit our post of the 2017 important numbers.
* Subject to change based on passage of the Tax Cuts and Jobs Act of 2017.
