Bill > A01043

This bill increases the Medicaid savings exemption from a previously referenced percentage to a flat amount of $300,000 for individuals and households. Specifically, the bill amends two sections of New York's social services law to allow Medicaid-eligible individuals to have up to $300,000 in savings without disqualifying them from receiving benefits. This change applies to both general Medicaid eligibility and a specific category of disabled individuals between ages 16 and 64 who are near the income threshold for Supplemental Security Income (SSI). The bill is designed to provide more financial flexibility for individuals seeking Medicaid coverage by significantly raising the asset limit. The changes will take effect on January 1, 2026, but are contingent on receiving federal financial participation. The bill aims to make Medicaid more accessible by allowing individuals to maintain a more substantial financial cushion while still qualifying for medical assistance.

Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/A1043