We would like to take this opportunity to answer three of the most commonly asked elder law questions. 1.) I have heard that elder law largely centers around the issue of long-term care and the costs involved. Doesn't Medicare pay for long-term care? This is a common misconception. Medicare will pay for as many as 100 days of convalescent care after surgery. It won't pay for a long-term stay in a nursing home or assisted living community. … [Read more...] about Top Three Elder Law Answers
The Medicaid program will pay for long-term care if you can meet the eligibility requirements. Though the program is supposed to be in place for the protection of people who have virtually no financial resources you can indeed retain ownership of a significant store of property and still qualify. In fact, the majority of individuals who are residing in nursing homes utilize Medicaid to pay the bills. And, it should be noted that many of them retired with a reasonable store of financial … [Read more...] about Medicaid: What You Can Keep in 2013
The fact is that you will probably need long-term care eventually after the age of 65. Given this reality, going forward without making any preparations for this contingency could be viewed as irresponsible. Why worry about long-term care costs when you will be eligible to enroll in the Medicare program as a senior citizen? The answer is quite simple: Medicare will not pay for a long-term stay in an assisted living facility. … [Read more...] about Free Report Reveals How to Protect Your Assets and Preserve Your Legacy with Medicaid Planning
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?
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?
There are those who think that Medicare is going to take care of all their health care needs once they become eligible. At the present time, the age of eligibility for Medicare is 65. Of course, everything is always subject to change so this is something to watch closely as your retirement years start to come into focus. … [Read more...] about Medicaid Adjustment For 2012
You may be thinking that you really don't care about long-term care costs because you will be on Medicare should you need long-term care. The unfortunate fact is that Medicare does not cover in-home care, assisted living community or nursing home expenses. You're on your own in that regard -- unless you can qualify for Medicaid. … [Read more...] about Federal Medicaid Cuts Could Take Toll On Seniors
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
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
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