Sometimes people say "it is never too late." This may be true about some things, but there is such a thing as closing the stable door after the horse has bolted. You need to keep this in mind when it comes to Medicaid planning in Oklahoma, Kansas or Missouri. Why Medicaid? If you have worked hard all your life you may wonder why you should even consider the subject of Medicaid. The simple answer is that you have paid into the program during your working career, … [Read more...] about When Is It Too Late to Engage in Medicaid Planning?
Authorization for Final Disposition
People with special needs may qualify for government benefits, including Medicaid and Medicare. While their names are similar, these programs are completely different and have different eligibility requirements and benefits. … [Read more...] about Medicaid vs. Medicare – What’s the Difference?
The challenges are significant when you are trying to get by on a fixed income without having a hefty store of savings to draw from. This is why financial planning lawyers are so adamant about the need to develop a clear-cut path that leads to a comfortable retirement. Many people find they will be working beyond the age when they become eligible to receive Social Security benefits because the numbers simply don't add up. Social Security payouts are quite modest, with the average monthly … [Read more...] about Higher Costs for Medicare Recipients in 2013
Medicare does not pay for an extended stay in a nursing home or assisted living community, and these facilities come with a very high price tag. When you discuss the matter with an elder law attorney you may come away with the realization that you would do well to angle toward Medicaid eligibility as a way to address future long-term care costs. … [Read more...] about Does Medicaid Count Assets in a Living Trust?
As laws currently stand, when you reach the age of 65 you will be eligible to receive Medicare assuming you (or your spouse) have worked and paid into the program for at least 10 years. This can lead you to believe that all of your medical expenses will be taken care of once you reach the age of eligibility. … [Read more...] about Prepare for Health Care Expenses
A lot of people don’t realize that Medicare offers only limited coverage when it comes to nursing home stays, and in most cases there is no coverage at all unless the patient was admitted to the hospital for at least three days prior to being admitted to a nursing facility. What this means is that a number of seniors must pay out of pocket if they must enter a nursing home in order to receive rehab services.Due to certain Medicare rules, many people are being placed in a hospital setting not as … [Read more...] about Nursing Home Rehab and Medicare
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