Be on the Lookout for New Medicare Cards (and New Card-Related Scams)
The federal government is issuing new Medicare cards to all Medicare beneficiaries. To prevent fraud and fight identity theft, the new cards will no longer have Social Security numbers on them.
Proving That a Transfer Was Not Made in Order to Qualify for Medicaid
Medicaid law imposes a penalty period if you transferred assets within five years of applying, but what if the transfers had nothing to do with Medicaid? How do you prove you made the transfers for a purpose other than to qualify for Medicaid?
New Federal Law Puts Focus on Preventing Elder Abuse
A new federal law is designed to address the growing problem of elder abuse. The law supports efforts to better understand, prevent, and combat both financial and physical elder abuse.
Long-Term Care Insurer Cannot Be Sued for Elder Financial Abuse
Long-term care insurance policyholders were dealt a blow by the Oregon Supreme Court when it ruled that the state's elder financial abuse statute does not apply to their case.
Report Finds Lack of Government Oversight of Assisted Living Facilities
The government is spending billions to fund assisted living services through Medicaid, but government oversight and regulation of assisted living facilities is lacking, according to a new government report.
A Guidebook to Planning for Old Age
Are you ready for old age? An essential and empowering book addresses the important issues and directs readers to a myriad of resources to help them plan for the realities of aging.
Estate Planning and Retirement Considerations for Late-in-Life Parents
Older parents are becoming more common, driven in part by changing cultural mores and surrogate motherhood. Steve Martin, Billy Joel, and Janet Jackson are some examples. But later-in-life parents have some special estate planning and retirement considerations.
Home Health Care Patients With Chronic Conditions Are Having Trouble Getting Medicare
Medicare is supposed to provide up to 35 hours a week of home care to those who qualify, but many Medicare patients with chronic conditions are being wrongly denied such care.
Costs of Some New Long-Term Care Insurance Policies Going Down in 2018
While long-term care insurance costs are up in general, some policies are going down in 2018, according to the 2018 Long Term Care Insurance Price Index, an annual report from the American Association for Long-Term Care Insurance, an industry group.
What Happens When a Nursing Home Closes?
A nursing home closure can be traumatic for residents who are forced to move. Although there may not be much that can be done to prevent a closure, residents do have some rights.
How Will the New Tax Law Affect You?
While most of the new tax law has to do with reducing the corporate tax rate from 35 percent to 21 percent, some provisions relate to individual taxpayers, including changes to the estate tax and 529 accounts.
AARP Sues California Nursing Home Over Resident Dumping
The legal wing of the AARP is suing a California nursing home that refused to readmit a resident whom the nursing home had sent to the hospital. The nursing home's actions are part of growing trend of resident dumping, according to the AARP.
Two Popular Medigap Plans Are Ending. Should You Enroll While You Can?
If you will soon turn 65 and be applying for Medicare, you should carefully consider which Medigap policy to enroll in because two of the most popular plans will be ending soon.
Medicare Launches Hospice Compare Website
Patients looking for hospice care can now get help from Medicare’s website. The agency’s new Hospice Compare site allows patients to evaluate hospice providers according to several criteria.
You Can Give Away More Tax Free in 2018
After staying the same for five years, the amount you can give away to any one individual in a particular year without reporting the gift will increase in 2018. Very few taxpayers will have to pay a gift tax in any case.
Medicare’s Part B Premium Will Be Unchanged in 2018, But Many Will Pay More. Got That?
The announcement of the 2018 Medicare premium is good news for some beneficiaries and bad news for many others.
Three Reasons Why Giving Your House to Your Children Isn’t the Best Way to Protect It From Medicaid
You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it.
New Yorker Article Highlights Abuses in the Guardianship System
Serious problems with the public guardianship system in the United States can lead to elder abuse, according to an in-depth article in The New Yorker.
Use Your Will to Dictate How to Pay Your Debts
The main purpose of a will is to direct where your assets will go after you die, but it can also be used to instruct your heirs how to pay money that you owe.
What To Do When a Loved One Passes Away
Whether your spouse has just passed away or you have lost your mom or dad, the emotional trauma of losing a loved one often comes with a bewildering array of financial and legal issues demanding attention.
Fighting Nursing Home Discrimination Against Medicaid Recipients
While it is illegal for a nursing home to discriminate against a Medicaid recipient, it still happens. To prevent such discrimination, nursing home residents and their families need to know their rights.
Social Security Beneficiaries Will Receive a 2 Percent Increase in 2018
In 2018, Social Security recipients will get their largest cost of living increase in benefits since 2012, but the additional income will likely be largely eaten up by higher Medicare Part B premiums.
Florida Nursing Home Tragedy Causes Rethinking of Disaster Preparedness
The recent tragedy in which 12 Florida nursing home residents died when the facility lost power during Hurricane Irma is causing government officials to rethink disaster planning.
Nursing Home Costs Rise Sharply in 2017
The median cost of a private nursing home room in the United States has increased to $97,455 a year, up 5.5 percent from 2016, according to Genworth's 2017 Cost of Care survey.
Now Is the Time to Review Your Medicare Options
Are you happy with your current Medicare plan or plans? Now is the time to think about whether you are in the right plan or whether a new plan could save you money.
How to Reverse Medicare Surcharges When Your Income Changes
What happens if you are a high-income Medicare beneficiary who is paying a surcharge on your premiums and then your income changes? If your circumstances change, you can reverse those surcharges.
You Can Pay Your Medicare Premiums Online
Online bill paying has become a popular way to make paying bills easier, and now you can pay your Medicare premiums online too.
HUD Makes Reverse Mortgages a Little Less Attractive
The Department of Housing and Urban Development has announced changes to the federal reverse mortgage program that will raise reverse mortgage fees for some borrowers and lower the amount homeowners can borrow.
Be Aware of the Kiddie Tax Before Leaving an IRA to Children
Grandparents may be tempted to leave an IRA to a grandchild because children have a low tax rate, but the “kiddie tax” could make doing this less beneficial.
Why You Should Use a Lawyer for Medicaid Planning
An attorney can help you save money in the long run as well as make sure you are getting the best care for your loved one.
Using a Prepaid Funeral Contract to Spend Down Assets for Medicaid
In addition to helping your family after your death, a prepaid funeral contract can be a good way to spend down assets in order to qualify for Medicaid.
Don’t Let Health Care Providers Use the Improvement Standard to Deny Medicare Coverage
Many health care providers are still not aware that Medicare is required to cover skilled nursing and home care even if a patient is not showing improvement.
Long-Term Care Scorecard Finds States Have Room for Improvement
A new report finds that states have made incremental improvements in providing long-term care, but need to make more improvements in order to meet the needs of the growing number of people who need long-term care services.
How Medicare and Employer Coverage Coordinate
Medicare benefits start at age 65, but many people continue working past that age, either by choice or need. It is important to understand how Medicare and employer coverage work together.
Relief From Medicare’s Part B Late-Enrollment Penalty Offered to Some
Medicare is offering relief from penalties for certain Medicare beneficiaries who enrolled in Medicare Part A and had coverage through the individual marketplace.
Owe Back Taxes? The IRS May Grant You Uncollectible Status
Sometimes seniors find themselves owing past-due federal taxes they cannot afford to pay. Although notices from the IRS can be especially frightening, there are solutions.
Take These Three Steps When Your Child Turns 18
When your child reaches the age of 18, you no longer have the same level of access to or authority over his or her financial, educational and medical information. You may even be unable to get medical updates in the event your child is unable to communicate.
Hospitals Now Must Provide Notice About Observation Status
All hospitals must now give Medicare recipients notice when they have not been admitted but are merely under “observation” status. The notice requirement is part of a law enacted in 2015 but that just took effect.
How to Pass Your Home to Your Children Tax-Free
Giving your house to your children can have tax consequences, but there are ways to accomplish it tax-free. The best method to use will depend on your individual circumstances and needs.
Are Trusts Still Useful If the Estate Tax Is Repealed?
With Republicans in control of Congress and the presidency, there is talk of eliminating the federal estate tax, which in 2017 affects estates over $5.49 million. This begs the question: With no estate tax, do you still need a trust?
What Is Undue Influence?
Saying that there has been “undue influence” is often used as a reason to contest a will or estate plan, but what does it mean?
Hybrid Policies Allow You to Have Your Long-Term Care Insurance Cake and Eat It, Too
An increasingly popular hybrid product combines life insurance with long-term care coverage and offers buyers solutions to a number of problems that have kept people from buying traditional long-term care policies.
Study Finds That Social Security Workers Often Provide Incomplete Information
Americans are misinformed about many aspects of Social Security, and local Social Security offices may not be helping, according to a study by the Government Accountability Office.
Short-Term Care Insurance: An Alternative to the Long-Term Care Variety
A little-known insurance option can be an answer for some people who might need care but are unable to buy long-term care insurance.
Adding to Uncertainty for Scam Targets, the IRS Now Allows Private Debt Collectors to Dun Taxpayers
In a move that could be confusing to seniors who are vulnerable to scams, the IRS will begin using private debt collection agencies to collect past-due taxes.
Dispute Between Brothers Demonstrates Need to Plan for Long-Term Care
A recent New Jersey appeals court case demonstrates how important it is for families to come up with a long-term care plan before an emergency strikes.
Beware Medicare’s Penalties for Late Enrollment
For this reason, Medicare imposes fairly significant late-enrollment penalties for those who postpone signing up. To encourage everyone to sign up when they first become eligible, the program increases premiums based on how long a beneficiary waits to enroll.
The Use of Immediate Annuities in Medicaid Planning for Married Couples
Immediate annuities can be a useful tool to protect the spouse of a nursing home resident who applies for Medicaid.
The Complex Modern Family Requires a New Planning Model, Book Argues
A new book suggests that planning for elder care and a loved one’s death are especially important for today’s complex modern families.
Always Put Caregiver Contracts in Writing
When hiring a caregiver, it is important to put the contract in writing. If you don’t it can affect your Medicaid benefits.
Leaving a Legacy Through Charitable Giving!
Charitable Lead Trusts offer a great mechanism for using your accumulated wealth to benefit BOTH your favorite church or qualified charity and your desired family members or heirs. Essentially, the creator of the trust or donor funds the trust with a certain amount of money or assets and the income generated from the assets are […]
Spending Down Assets to Qualify for Medicaid
Medicaid has strict asset rules that compel many applicants to “spend down” their assets before they can qualify for coverage. It is important to know what you can spend your money on without endangering Medicaid eligibility.
Avoid Sibling Disputes Over Caregiving By Putting It in Writing
Caring for an elderly parent can be stressful for families. Siblings may disagree over how to provide care or where a parent will live, and these squabbles can end up costing the family thousands of dollars.
Tailoring a Will and Power of Attorney for Multiple States
If you own property in more than one state, you need to do some planning if you want to keep your heirs from having to go through probate in each of the states.
