Let’s talk about what’s new with elder care in New Jersey for 2025. Whether you’re planning for yourself or helping family members, there’s quite a bit to know about.
Social Security Gets a Boost
Good news! Social Security checks will be a bit bigger in 2025. You’ll see a 2.5% increase, which means the average monthly payment goes up to $1,976. That’s about $50 more each month. If you’re still working while getting Social Security, you can now earn up to $23,400 before any money gets taken away from your benefits.
Medicare Made Simple
The Medicare scene is changing too. Here’s what you need to know:
- Medicare Part B premium: $185 per month
- Part B annual deductible: $257
- Hospital stay costs under Part A: $1,676 deductible for days 1-60; $419/day for days 61-90; $838/day for days 91-150
- Skilled nursing facility co-insurance: $209.50/day for days 21-100
- Out-of-pocket cap for prescription drugs under Part D: $2,000 annually
- The confusing “donut hole” in drug coverage? It’s gone!
- Beneficiaries in New Jersey can choose from 96 Medicare Advantage plans.
Medicaid Money Matters
The rules about who can get Medicaid are changing. Now you can have:
- Resource allowance: $2,000 for individuals; $3,000 for couples in facilities
- Community spouse resource allowance: Between $31,584 and $154,920
- Monthly income limit: $2,901 for one person; $3,000 for couples
- Monthly personal needs allowance: $50
- If your income exceeds the limit, you may need to set up a Miller Trust (Qualified Income Trust).
Nursing Home News
Nursing homes in New Jersey are expensive, with annual costs ranging from $150,000 to $215,000. But there’s some good stuff happening:
- Stricter oversight and more frequent checks on nursing homes
- Improved staff-to-patient ratios
- A requirement that 90% of Medicaid money must go straight to patient care.
Prescription Drug Updates
The prescription drug landscape is shifting:
- Fewer plans: There are 14 stand-alone drug plans now, down from 21.
- Average cost: $45 a month, but Medicare Advantage drug plans average just $7 monthly.
- Beneficiaries can access $0 premium benchmark plans if they qualify for the Low-Income Subsidy.
What This Means for You
These changes might seem like a lot, but they’re mostly about making things better for seniors. The bigger Social Security checks will help with daily expenses, and that $2,000 cap on drug costs could save you quite a bit of money.
Want to make the most of these changes? Start by:
- Looking at your current Medicare plan
- Checking if your doctors are in the networks you’re considering
- Adding up your monthly healthcare costs
- Thinking about what extra benefits you might use
The best part? You’ve got options. Whether you need basic coverage or want all the bells and whistles, there’s probably a plan that fits your needs and your budget.
We’ve prepared a list of Key New Jersey Medicare and Medicaid Figures for you to download. Click the button below to get your copy.
