Long-term care insurance is a type of insurance that helps cover the costs, such as nursing home care, home health care, and assisted living. It is relevant because Medicare does not cover long-term custodial care. This type of insurance can seem like an appealing option for people who are concerned about the financial impact of a prolonged illness or disability. The flexibility to receive care at home or in a facility of their choosing is appealing on the surface as well. However, there are … [Read more...] about The Pros and Cons of Long-Term Care Insurance
Why Do You Need an Elder Law Attorney?
The term “elder law attorney” may sound kind of confusing at first. Why would anyone need a certain type of legal representation just because they are a senior? That’s a good question, and we provide the answer in this post. Key Medicare Limitation If you have paid into the program sufficiently throughout your working life, you will qualify for Medicare when you reach the age of 65. Though there are out-of-pocket costs, Medicare will pay for most of the health care expenses that seniors … [Read more...] about Why Do You Need an Elder Law Attorney?
6 Things You Should Know About Long-Term Care for Seniors
Elder law attorneys focus on legal and financial matters that are of interest to senior citizens. The primary issue that we deal with on a day-to-day basis is the matter of long-term care for seniors. If you are assuming that it will take care of itself one way or another, you may be surprised when you hear the facts. In this post, we will share five things everyone should know about the subject. Most Seniors Will Need It It is hard to envision a time when you will become unable to take … [Read more...] about 6 Things You Should Know About Long-Term Care for Seniors
Don’t Expect Too Much From Medicare
When you pay FICA or self-employment taxes, you get something in return. You earn retirement credits when you pay these taxes, and this year, you get one credit for every $1510 in taxable income. This figure is adjusted to account for inflation, but it has always been relatively low. The maximum annual accrual is four credits, and you become eligible for Social Security and Medicare when you have at least 40 credits. Even if you have never worked, you can become eligible for these programs on … [Read more...] about Don’t Expect Too Much From Medicare
Is Long-Term Care Insurance Recommended?
We are going to look at long-term care insurance in this post. If you are not concerned because you will have Medicare, you should take a moment to absorb some background information. Custodial Care Medicare provides a strong health insurance underpinning, but it does not cover everything in full. It will pay for 80 percent of treatments that are provided by physicians and other health care professionals, and there are deductibles, premiums, and other types of coinsurance. In addition to … [Read more...] about Is Long-Term Care Insurance Recommended?
Is My Spouse Left With Nothing If I Use Medicaid for Nursing Home Expenses?
You are probably aware of the fact that Medicaid is a need-based government health insurance program that is potentially available to people of all ages. Medicare is a separate program that provides health insurance for senior citizens. If you are going to qualify for Medicare and you retired with resources, you would logically assume that you will never be interested in Medicaid coverage. This makes sense on the surface, but many elders do rely on Medicaid to pay for long-term … [Read more...] about Is My Spouse Left With Nothing If I Use Medicaid for Nursing Home Expenses?
Consider the Benefits of Aging in Place
After the active retirement years start to wane, life for seniors will take on a different complexion. Living assistance may be necessary. There is a concept called “aging in place” that you should understand when you are looking ahead toward the future. Modification of Living Spaces It can be difficult to accept the limitations that elders face, but it is simply part of life. If you recognize the inevitability and embrace it, you can use aging in place concepts to maximize your … [Read more...] about Consider the Benefits of Aging in Place
Are You Aware of the VA Aid and Attendance Pension?
U.S. military veterans who served for at least 20 years become eligible for a retirement pension. The exact details vary depending on the dates of service. The benefit amount increases if you serve beyond the 20-year threshold. If you are a veteran, you made sacrifices for your country. This pension can facilitate a comfortable retirement. You could remain in the service for your entire career. In this case, you would step away with a sizable pension to combine with your Social Security … [Read more...] about Are You Aware of the VA Aid and Attendance Pension?
Experts: Alzheimer’s Explosion Will Unfold
Elder law attorneys are sharing information about some important topics that are a bit disconcerting. As unpleasant as they may be, you should be aware of the eventualities that can come about when you reach an advanced age. In this article we will discuss some of those eventualities and look at what appropriate precautions you can take. Alzheimer’s and Incapacity The Alzheimer’s Association provides a lot of eye-opening information on their site. Over the last 10 years or so, the population … [Read more...] about Experts: Alzheimer’s Explosion Will Unfold
Important Medicaid Facts and Figures for Senior Long-Term Care
Most people look forward to retirement, and they project expenses they expect to have when they put their careers behind them. This is an imperfect science, and there is a factor that some people completely overlook. Living Assistance This is not a subject that anyone is especially anxious to think about, but most senior citizens will need paid long-term care. According to the state, the average daily cost for a room in a nursing home in Oklahoma is just under $180 a day, and in-home care is … [Read more...] about Important Medicaid Facts and Figures for Senior Long-Term Care