IM-212 12/07/01 INCREASE IN ALLOTMENTS AND THE SPOUSAL SHARE
|INCREASE IN ALLOTMENTS AND THE SPOUSAL SHARE|
|As a result of an increase in the Consumer
Price Index (CPI), the maximum Total Maintenance Standard and the minimum
and maximum spousal shares are increased effective January 1, 2002.
NEW ALLOTMENT STANDARD
The new maximum Total Maintenance Standard is $2232.00. Use the new amount whenever determining an allotment for the community spouse effective for January 2002 and later. Determine allotments for December 2001 using the old amount of $2175.00.
The minimum Maintenance Standard remains $1452.00.
NEW SPOUSAL SHARE STANDARDS
The new minimum spousal share is $17,856.00. The new maximum spousal share is $89,280.00. Both amounts become effective for any assessment done on or after January 1, 2002.
WHEN TO RE-EVALUATE SPOUSAL SHARES
EXAMPLE #1: (one-half the assets at the time of assessment were greater than the new maximum spousal share): Jane and Colby Stilton requested an assessment of assets in November, 1992. The couple's combined non-exempt assets were $180,000.00. One-half that amount is $90,000.00. The maximum spousal share in effect at that time was $68,700.00. Mr. Stilton applies for vendor benefits February 1, 2002. Use $89,280.00 maximum spousal share. Do not change ISMT; note the new maximum on the IM-2.
EXAMPLE #2: (one-half the assets at the time of assessment were less than the new minimum spousal share): Gustav and Hilda Jarlsberg requested an assessment of assets in December, 1993. The couple's combined non-exempt assets were $22,400.00. Since one-half is $11,200.00, the minimum spousal share in effect at the time of $14,148.00 was used. Mrs. Jarlsberg applies for vendor benefits January 3, 2002. Use $17,856.00 as the minimum spousal share. Do not change ISMT; note the new minimum on the IM-2.
EXAMPLE #3: (one-half the assets at the time of assessment were less than the new maximum spousal share current at the time of assessment): Lida and Edam Krantz requested an assessment of assets in December, 1994. The couple's combined non-exempt assets were $147,500.00. Since one-half that amount ($73,750.00) was greater than the maximum spousal share of $72,660.00 in effect at the time, the maximum was used. Lida Krantz applies for vendor benefits on January 18, 2002. Use $73,750.00 as the spousal share, since that is now less than the maximum of $89,280.00. Do not change ISMT; note the amount considered as the spousal share on the IM-2.