| 2025 Updates | |
| Provided by: | GotLTCi |
HIPAA:
| Attained age before the close of the taxable year: | Amount that counts as a medical expense OR paid through a Health Savings Account OR 1st dollar tax-deduction for self-employed |
| 40 or less | $480 |
| 41 – 50 | $900 |
| 51 – 60 | $1,800 |
| 61 – 70 | $4,810 |
| 71 and older | $6,020 |
Indemnity/cash policies: Benefit payments above $420 per day that exceed the actual cost of care will be taxed as income. [IRS §213(d)(10)]
Self-Employed Long-Term Care Insurance Deductions:
100% of age-based limits for owner and spouse. C-Corps 100% of premium.
Medicare:
| Part A Deductible |
$1,676 |
| Skilled Nursing Facility Coinsurance | $209.50 |
| Part B Deductible | $257 |
| Part B Premium | $185 (incomes below $103,000 individual / $206,000 joint) |
| Qualified Medicare Beneficiary* (Annual amounts are issued in approximately February each year) |
Individual: $1,275 monthly income / $9,430 assets Couple: $1,724 monthly income / $14,130 assets |
Medicaid: Click here to see state-specific Medicaid information
| Spouse’s minimum asset allowance | $31,584 |
| Spouse’s maximum asset allowance | $157,920 (California: no limit 1/1/24) |
| Spouse’s minimum income allowance* | $2,555 (effective 7/1/24 – 6/30/25) |
| Excess shelter allowance | $766.50 (effective 7/1/24 – 6/30/25) $957 AK; $881 HI |
| Spouse’s maximum income allowance | $3,948 |
| Income cap states (3 x SSI) | $2,901 |
| Home equity limits | $730,000 / $1,097,000 (California: no limit except estate recovery) |
Health Savings Accounts:
(Minimum Deductible: $1,650 Individual / $3,300 Family)
| Individual = Maximum contribution of $4,300. Additional 2025 contribution of $1,000 for 55+; Out-of-Pocket maximum: $8,300. | Family = Maximum contribution of $8,550. Additional 2025 contribution of $1,000 for 55+; Out-of-Pocket maximum: $16,600. |
*Limits vary for AK and HI
2 comments
I received this kit in 2020 and am just now venturing through the process, procedures and information. Am in great need of forms for power of attorney forms for health and finance. Extremely Difficult to locate in this format. It was described as being very easy, but unfortunately this novice is not having fun. Are you able to direct me?
Author
Hi Rhonda, I believe you are referring to Suze Orman’s Must-Have Documents. Congratulations on purchasing them! I will send your request to someone on Suze’s team. I just take care of people who need help with planning for long-term care. If you ever do need help with that, just complete the short questionnaire at https://www.gotltci.com/contact-us/ and we’ll do the rest!