Elder Law Calculators
Minimum Monthly Maintenance Needs Allowance
The Medicaid agency in each state calculates the income the spouse of a nursing home resident - the "community" spouse - must have to survive. This amount is based on a standard formula (which may differ somewhat from state-to-state) which includes some housing costs. Based on the determination of this income or allowance, or "Minimum Monthly Maintenance Needs Allowance" or "MMMNA", the agency determines how much of the nursing home spouse's income the community spouse may keep.
NOTE: California and Hawaii use the maximum MMMNA for all community spouses.
Patient Pay Amount Calculator
This calculator provides an estimate of the amount a nursing home resident covered by Medicaid must pay the nursing home each month. This amount is often referred to as the "patient pay amount" or "PPA". In essence, the nursing home resident must pay all of his or her income to the nursing home less a small personal needs allowance, an allowance for a spouse or a dependent child living at home, and any health care expenses, such as health insurance premiums. The calculations may differ in your state, so consult with an elder law attorney or the state Medicaid agency for an exact figure.
Minimum Distribution Calculators
Generally, you must begin making withdrawals from tax-deferred IRAs by the April 1st following the year you reach age 70½ or the April 1st following the year you retire, if later. The amount you must withdraw in any given year thereafter is called the minimum distribution. Calculators are available to help you quickly calculate what your minimum distributions must be. Here are two: TIAA-CREF and Kiplinger
Federal Long Term Care Insurance Cost of Care in Your Area
The SmartMoney.com LTC Insurance Evaluators
