There is no issue of interest to the elder law community more attention-getting than that of long-term care costs. According to the United States Department of Health and Human Services, seven out of ten Americans will eventually require some type of long-term care. You will probably need care, and Medicare won't pay for it. All that's left is to get out your checkbook, right? That may be an option, but in 2016 the average annual expense for a private room in a nursing home was over … [Read more...] about Latter Life Expenses Loom Large
Nursing Homes
The Health Care Reform Bill’s Effect on Medicaid
Health Care Reform Bill's effect on Medicaid is what we discuss in this piece of content. One of our estate planning attorneys describes what you need to know about what has changed and how to handle things moving forward. Health Care Reform has affected a number of government programs, including Medicaid. For example, States will have to include Spousal Impoverishment Protection in their waiver programs, and offer this protection to spouses of HCBS waiver participants, including those who … [Read more...] about The Health Care Reform Bill’s Effect on Medicaid
The Difference Between Medicare and Medicaid
There is a lot of confusion between Medicare and Medicaid, and though they are both government sponsored healthcare plans, there are some major differences between the two. Medicaid – This plan is sponsored by the federal government and is intended to provide assistance to those with a low-income. If you have a financial need, Medicaid will cover you, even if you are over the age of 65. Many seniors that are low income will have Medicaid in conjunction with Medicare, simply because it covers … [Read more...] about The Difference Between Medicare and Medicaid
Impacts of Medicaid Estate Recovery
An important benefit under the federal Medicaid system is payment of nursing home costs for eligible persons over the age of sixty-five. Although Medicaid is a joint program with state governments targeted for low-income citizens, the income eligibility guidelines are strictly based upon federal Medicaid law. Meanwhile families recognize the tremendous financial burden that extended nursing home care imposes on the healthier spouse. To protect the family assets and lifestyle, these families … [Read more...] about Impacts of Medicaid Estate Recovery
Medicaid Eligibility & Gift Giving
The costs associated with long-term care are a source of concern in the elder law community. Approximately four out of every 10 individuals who reach the age of 65 will someday spend some time in an assisted-living facility, nursing home, or both. To drill down a little bit further, citizens 85 years of age and older are the fastest-growing segment of the American population. About 25% of people who reach this age are residing in a nursing home at any given point in time. … [Read more...] about Medicaid Eligibility & Gift Giving
Will You Need to Sell Your Home to Qualify for Medicaid?
If your spouse becomes ill and must enter a nursing facility it isn’t necessary to sell your home, though it is important to understand that there will still be some major concerns at some point. In many cases when someone enters a nursing home they will need help from Medicaid to pay for that cost, even if they thought that they could pay for the care on their own. … [Read more...] about Will You Need to Sell Your Home to Qualify for Medicaid?
Medicaid Planning
Here is another denial zone for most people entering their retirement years. When you think about your retirement, it is natural that you would create a mental picture of a life of free time. You can travel, play golf or tennis, dine out, work in the garden, and otherwise enjoy your golden years in the way that you always envisioned when you were busy traversing a career path. … [Read more...] about Medicaid Planning
Oklahoma City Elder Law Attorney Asks – Are You Preparing For Assisted Living Expenses?
If you stick your head in the sand with regard to the possibility of incurring assisted living expenses late in your life, you may find yourself in a difficult situation once you reach your twilight years. … [Read more...] about Oklahoma City Elder Law Attorney Asks – Are You Preparing For Assisted Living Expenses?
Veterans A & A: Changes in the Offing?
The Veterans Aid & Attendance special pension is a military benefit that will provide a monthly payment to eligible veterans who need living assistance. This can include in-home care or residence in a nursing home or assisted living community. … [Read more...] about Veterans A & A: Changes in the Offing?
Will Your Home’s Value Preclude You From Medicaid Eligibility?
When you hear that the upper resource limit for Medicaid eligibility is just $2000, you may feel as though there is no reason to apply because the value of your home alone exceeds this figure by a large margin. However, Medicaid planning attorneys will advise you to take pause before you assume that you cannot qualify for the program. Though there is indeed a countable resource limit of $2000 there are personal possessions that are not counted by Medicaid evaluators. The value of your home up … [Read more...] about Will Your Home’s Value Preclude You From Medicaid Eligibility?
