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...]
Latter Life Expenses Loom Large
There is no issue of interest to the elder law community that is 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. So 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 … [Read more...]
Oklahoma Medicaid Planning: What Can the Healthy Spouse Keep?
https://www.slideshare.net/ParmanLawOK/oklahoma-medicaid-planning-what-can-the-healthy-spouse-keep Oklahoma Medicaid Planning: What Can the Healthy Spouse Keep? from Larry Parman Most senior citizens will eventually need help with their day-to-day needs Long-term care is extremely expensive, and Medicare will not assist with these costs. Learn more about Oklahoma Medicaid Planning in this presentation. … [Read more...]
Care Management for the Elderly
As we get older, thinking about retirement and aging can raise many questions, both for the person getting older and their adult children. Most start with, “how am I going to pay for…” How are you going to pay for all the care you may need and what are all your care options? It’s important to think about care management, not just for financial reasons but to ensure you get the best care possible for yourself or a grandparent, mother or father who may need it. It’s never too early to get … [Read more...]
Robot Caregivers On the Horizon
Sometimes numbers don't add up, and this can be disturbing when you're talking about the well-being of senior citizens. The population is aging rapidly. Members of the baby boomer generation are now reaching retirement age. It is estimated that by 2030 there will be 72.1 million people in the United States that are over the age of 65. This is almost double the number of senior citizens that we have currently. … [Read more...]
Veteran’s Affairs Claims Update
The processing of Veterans Affairs (VA) claims can be a long and arduous course from initial submission of the application to the first payment of your VA benefit. In some instances we’ve dealt with, the process has taken a year or longer. If the claimant is incompetent, additional months of delay can be expected. We have even experienced situations where our clients pass on before they see an award and without any hope of payment to their families. Because of this, we … [Read more...]
Do You Have to Impoverish Yourself to Qualify for Medicaid?
Medicaid is a joint federal/state government administered health insurance program for people with financial need. Most people who have worked for a significant period of time are going to qualify for Medicare when they are senior citizens. The majority of them have some resources. Because of this they wouldn't qualify for Medicaid. Therefore, you may assume that Medicaid is really not relevant to most senior citizens. … [Read more...]
What Are the Disadvantages of a Medicaid Trust?
You may wonder why Medicaid would be relevant to you if you are going to qualify for Medicare as a senior citizen. The reason why Medicaid is relevant to many elders is because of the fact that Medicare will not pay for custodial care. Custodial care is the type of care that you would receive in a nursing home or assisted living community. It is essentially living assistance rather than medical or convalescent care. For this reason, it is not covered under Medicare. … [Read more...]
What Assets Can I Keep When My Spouse Qualifies for Medicaid?
The Medicaid program is relied upon by a significant percentage of seniors who require long-term care. This is because of the fact that Medicare will not pay for living assistance. If you need help with your activities of daily living, this is considered to be custodial care. Medicare will pay for convalescent care after surgery for as long as 100 days, but it will not pay for custodial care at all. … [Read more...]
Will Long Term Care Wipe Out Your Children’s Savings?
This year about 9 million individuals over the age of 65 will require long-term care of some kind (such as in-home, assisted living, or nursing home care), and estimates show that 12 million Americans will require it by 2020. Discover the 5 reasons paying for long-term care expenses is a very real concern and why you should start planning ahead now. Watch this short video (4:50) as Parman & Easterday attorneys Blaine Peterson and Jerry Shiles explain how to prepare for the possibility of … [Read more...]
