Monthly income definition

Monthly income means one-twelfth of the Annual Income.

Monthly income means the gross countable income received or projected to be received during the month or the monthly equivalent.

Monthly income means the obligor’s income available for child support and is the obligor’s annual gross income or, if applicable, the obligor’s annual income modified for business expenses; plus the obligor’s annual income imputed based on earning capacity; plus the obligor’s annual income imputed from assets; divided by twelve (12).

Examples of Monthly income in a sentence

• Medicaid recipients are required to pay their Net Available Monthly Income (“NAMI”) to the Facility on a monthly basis as a co-payment obligation as part of the Medicaid rate.

• All long-term residents and all short-term residents transferred to long-term care may have their Net Available Monthly Income or NAMI (Social Security, pension benefits, etc.) deposited in the Facility’s account and/or their “personal income allowance” deposited in their personal account via electronic direct deposit.

• If the Resident’s care is covered by Medicaid, the Resident, Designated Representative and/or Sponsor agree to remit to the Facility the Resident’s Net Available Monthly Income or “NAMI” on a timely basis, pursuant to the Resident’s Medicaid budget (see Attachment “B”).

• This monthly income obligation, called the NAMI (Net Available Monthly Income), is determined by the Medicaid agency.

• Monthly Income Ensure the Yes/No answer does not conflict with the specific sources of monthly income.

More Definitions of Monthly income

Monthly income means 1/12th of annual income.

Monthly income means the monthly average of any and all monies received on a periodic or predictable basis, which the family relies on to meet personal needs.

Monthly income means the income which a member is entitled —

Monthly income means the gross monthly income before any deductions.

Monthly income means gross monthly income of the parent or parents residing with the child and the income of adults in the household who are included in the calculation of household size as provided in ARM 37.80.202. The income of a parent not residing with the child shall will be counted as monthly income under this chapter only in cases where such parent's income is available to support the household of the child. Any child support provided by a parent not residing with the child to the household of such child shall will be counted as monthly income, and such child support shall will be deemed to constitute the extent to which the nonresidential parent's income is available to the household. The following sources of income are the only sources that will not be counted in determining gross monthly income:

Monthly income means the sum of your monthly rate of basic earnings and the amount, if any, of monthly disability or retirement benefits, which are being paid to you on the date you become totally disabled, exclusive of disability or retirement benefits provided under the participant employer’s employee benefit plan or under any individual policy issued to you.

Monthly income means the gross income for a given month; and for purposes of this Policy, is determined based on average monthly income for the two months prior to the submission of the application for assistance.