{"id":2803,"date":"2021-10-15T07:12:00","date_gmt":"2021-10-15T12:12:00","guid":{"rendered":"https:\/\/stotlerhayes.com\/?p=2803"},"modified":"2024-05-06T07:14:12","modified_gmt":"2024-05-06T12:14:12","slug":"cola-benefits-will-rise-by-5-6-in-2022-the-highest-increase-in-nearly-four-decades","status":"publish","type":"post","link":"https:\/\/stotlerhayes.com\/cola-benefits-will-rise-by-5-6-in-2022-the-highest-increase-in-nearly-four-decades\/","title":{"rendered":"COLA Benefits Will Rise By 5.6% In 2022: The Highest Increase In Nearly Four Decades"},"content":{"rendered":"\n

As 2021 is nearing an end, we begin to prepare for 2022 and the changes it will bring as many pandemic-related provisions are set to expire.  We anticipate nursing homes residents will receive a flurry of notices related to changes to Medicaid and other benefit programs. It\u2019s important to keep an eye on these, including specifically the Social Security Administration\u2019s (SSA) 2022 Cost of Living Adjustment (COLA) adjustment notifications and resultant changes to Medicaid Patient Liability.<\/p>\n\n\n\n

The SSA recently announced a much larger than usual annual Cost of Living Adjustment (COLA) increase to Social Security.  Effective January 2022, the 2022 COLA will increase benefits by 5.6%, the highest in nearly four decades.  Following the SSA adjustment, state Medicaid agencies should recalculate new Patient Liability amounts to reflect to the COLA.<\/p>\n\n\n\n

These changes may result in increases to the Special Income Limit, causing the need for additional steps to ensure ongoing income eligibility. Keep an eye out for these Notices, award letters, and account statements and remember to double check new SSA benefit amounts to make any needed adjustments to Patient Liability payments and to any Qualified Income Trust account that may be impacted.<\/p>\n\n\n\n

SHG will continue to monitor for changes as 2022 approaches and stands ready to assist with any potential issues.<\/p>\n\n\n\n

If you need help navigating these adjustments, please contact SHG Client Relations Director Ashley Shudan by email at ashudan@stotlerhayes.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

As 2021 is nearing an end, we begin to prepare for 2022 and the changes it will bring as many pandemic-related provisions are set to expire.  We anticipate nursing homes residents will receive a flurry of notices related to changes to Medicaid and other benefit programs. 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