Nursing home Medicaid is something which many people do not think about until they find themselves in a position of needing it. For those nearing retirement, Medicaid usually comes up when they urgently need long-term care in a nursing home. This kind of care is not covered by Medicare beyond a limited number of days. … Read More »
Posts Categorized: Medicaid Planning
Ways to Pay for Long-Term Care
While we all hope to remain healthy and active as we age, there is a possibility that an unforeseen medical condition or accident could limit our mobility and change our medical care needs. While Medicare and supplemental Medicare coverage will cover some costs, these plans and policies will not pay for most long-term care services… Read More »
Medicaid and the Gift Tax
Being able to give a loved one a significant amount of money without having to pay gift tax is a major benefit offered by the federal tax code. This may seem like an ideal way to bequeath funds to loved ones without having to include the amounts in your estate plan. However, for individuals who… Read More »
Do you believe in love at first sight?
“It was love at first sight,” Sam said to me. Mary was a waitress at the local diner. Sam was a young, athletic kid who had just enlisted in the Army. He still remembers Mary’s pink dress, her hazel eyes, the smell of bold coffee and the sound of bacon sizzling on the grill. … Read More »
Planning for the Silent Thieves: Dementia, Alzheimer’s and Parkinson’s Disease
I search your eyes, So empty and blue, Hoping for a flicker Of what used to be you.1 If you are the wife, husband, son or daughter of someone with, dementia, Alzheimer’s disease or Parkinson’s disease, you may be overwhelmed emotionally, physically and financially. You are consumed with the day-to-day care, behaviors like agitation and… Read More »
Estate Planning Essentials
Estate plans are an area that many people believe they will have time to develop but often neglect. Some may think they’re too young for this kind of preparation or they may be putting it off because they find the topic difficult to confront. The problem with delaying estate planning is that you run the… Read More »
Qualifying for Medicaid
Getting ready for retirement usually means examining Medicare options, downsizing and beginning to budget with retirement funds. One preparation which may not come to mind is paying for long-term care. This type of care includes nursing home, hospice, and personal care services and is not covered by Medicare. While some may have long-term care insurance… Read More »
Medicaid and Your Long-Term Plans
Seniors entering their retirement years are often concerned about planning for their future medical needs. Some may have private health insurance policies in place while others plan to be mostly reliant on Medicare. For many, it may be a surprise to learn that their insurance and Medicare will not include the coverage associated with long-term… Read More »
Seniors and Bankruptcy
With the rising costs of healthcare and the decreasing amount of medical coverage offered under most insurance plans, many seniors find themselves struggling to pay expensive medical bills. Further, retired individuals on fixed incomes may find themselves confronted with unexpected medical costs such as long-term care which they struggle to afford. Increasingly, for those seniors… Read More »
Your Parents and Long-Term Care Expenses
There can be a lot of considerations for those with senior parents. One issue that many families face is how to help ensure that their loved one’s medical expenses are covered by their insurance and that their out-of-pocket costs can be paid. For many, planning for these medical expenses may not necessarily include the costs… Read More »