Increasingly, several generations of American families are living together. These multi-generational living arrangements present legal and financial challenges around home ownership.
Long-term care costs can add up quickly. For veterans and the surviving spouses of veterans who need in-home care or are in a nursing home, help may be available.
As the second round of stimulus checks go out, it is important to know that nursing home residents are not required to turn their checks over to their nursing home. And Medicaid recipients [...]
While legally you may not need all-new estate planning documents if you move to a different state, you should have your documents reviewed by a local attorney in your new home.
While it remains unclear exactly what tax changes President Biden’s administration will usher in, two possibilities are that he will propose lowering the estate tax exemption and eliminating [...]
Tucked into the federal spending bill that passed at the end of December 2020 are some changes aimed at simplifying Medicare enrollment and addressing coverage gaps. But Congress chose not to [...]
All Long-term care costs rose sharply in 2020, but assisted living facility costs increased the most, according to Genworth’s latest annual Cost of Care Survey. The across-the-board rises were [...]
Many employers offer critical illness insurance as part of their benefit package. What is this insurance and is it worth purchasing? Before paying for a plan, you should read the fine print [...]
COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic. Once your loved one has had both doses of the vaccine, you may [...]
As Medicare premiums rise, a Medicare Advantage plan can seem like an attractive option. But if you are considering switching from Original Medicare to a Medicare Advantage plan, you need to [...]
If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption [...]
Husbands Usually Don’t Consider Their Wives’ Future When Deciding When to Take Social Security Benefits
Husbands usually don’t take survivor’s benefits into account when claiming benefits, according to a recent study, meaning that many widows will needlessly experience a significant drop in [...]
The rules around required minimum distributions from retirement accounts are confusing, and it’s easy to slip up. Fortunately, if you do make a mistake, there are steps you can take to fix the [...]
Every adult is assumed to be capable of making his or her own decisions unless a court determines otherwise. If an adult becomes incapable of making responsible decisions, then the court will [...]
The coronavirus pandemic has forced nursing homes to place a number of restrictions on their residents. These constraints are having the unintended consequence of making it more difficult for [...]
Medicare Beneficiaries May Be Eligible for an Extra 100 days of Skilled Nursing Coverage Due to Pandemic
Medicare beneficiaries who qualified for skilled nursing facility (SNF) coverage may be eligible for an additional 100 days of coverage. Whether beneficiaries can actually get the extended [...]
Medicare's Open Enrollment Period, during which you can freely enroll in or switch plans, runs from October 15 to December 7. Now is the time to start shopping around to see whether your [...]
The coronavirus pandemic is having a profound effect on the current U.S. economy, and it may have a detrimental effect on Social Security’s long-term financial situation.
If you plan to move states, can you take your Medicare or Medicaid plans with you? The answer depends on whether you have original Medicare, Medicare Advantage, or Medicaid.
Choosing a nursing home for a loved one is a difficult decision and it can only be made more confusing by the various rating systems. A recent study found that using both Medicare’s Nursing [...]
Although many people are willing to voluntarily care for a parent or loved one without any promise of compensation, entering into a caregiver contract with a family member can have many [...]
A controversial policy that reduces the benefits of military spouses is on the way out. The so-called “widow’s tax” cuts assistance to surviving military spouses who qualify for benefits under [...]
Raising the minimum wage by as little as 10 percent would significantly improve the safety and health of nursing home residents, according to new research.
The coronavirus pandemic has had a devastating impact on those in nursing homes and other long-term care facilities. This has raised questions about how the virus has influenced the costs and [...]
Illegal evictions of Medicaid nursing home residents are nothing new, but the coronavirus pandemic is exacerbating the problem, according to an investigation by the New York Times.
Medigap policies that supplement Medicare’s basic coverage can cost vastly different amounts, depending on the company selling the policy, according to a new study. The findings highlight the [...]
Seniors and Adults with Special Needs Who Are Claimed as Dependents Will Not Get Coronavirus Relief Payment
Not everyone will get the relief payment the federal government is sending to help Americans through the economic hard times triggered by the coronavirus pandemic. Among those left out [...]
With the coronavirus pandemic hitting nursing homes and assisted living facilities especially hard, families are wondering whether they should bring their parents or other loved ones home.
The coronavirus relief bill includes a direct payment to most Americans. How will this sudden cash infusion affect the eligibility of those receiving Medicaid long-term care services?
Staff members working in more than one facility has been identified as a main contributor to nursing homes' vulnerability to COVID-19. But working at more than one facility is often a [...]
Should Seniors Who Lose Their Job During the Coronavirus Pandemic Claim Social Security Benefits Early?
In the wake of the coronavirus pandemic, unemployment is skyrocketing. Seniors who lose their jobs may be tempted to claim Social Security benefits early, but should they, given the resulting [...]
The spread of the coronavirus to nursing home residents has caused the federal government to direct nursing homes to restrict visitor access. Families are having to find new ways to stay in [...]
To protect its workers and the public during the coronavirus pandemic, the Social Security Administration (SSA) has suspended face-to-face service at its field offices and hearings offices [...]
As part of its response to the coronavirus pandemic, the federal government is broadly expanding coverage of Medicare telehealth services to beneficiaries and relaxing HIPAA enforcement. This [...]
With coronavirus dominating news coverage and creating alarm, it is important to know that Medicare and Medicaid will cover tests for the virus.
The Trump administration will allow states the option to cap Medicaid spending using block grants. While this change does not directly affect nursing home residents on Medicaid, it could [...]
As baby boomers age, more and more millennials are becoming caregivers. Many are taking on this role while just getting started in their own lives, leading to difficult decisions about [...]
Recognizing the huge problems caused by opioid addiction in the United States, Medicare is adding a new outpatient opioid treatment benefit, paying for methadone and related treatment in [...]
The federal government has released the 2020 federal guidelines for how much money the spouses of Medicaid recipients may keep, as well as related Medicaid figures.
After small or no increases the past couple of years, Medicare’s Part B premium will rise sharply in 2020. The basic monthly premium will increase $9.10, from $135.50 a month to $144.60.
The Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2020 income as a result of buying long-term care insurance.
When it comes to long-term care costs, the charges for home care are now rising faster than those for nursing home care, according to Genworth's 2019 Cost of Care survey.
Medicare's Open Enrollment Period, during which you can freely enroll in or switch plans, runs from October 15 to December 7. Don't let this period slip by without shopping around to see [...]
Being appointed guardian of a loved one is a serious responsibility. As guardian, you are in charge of your loved one's well-being and you have a duty to act in his or her best interest.
Under Medicaid law, following the death of the Medicaid recipient a state must attempt to recover from his or her estate whatever benefits it paid for the recipient's care.
Reports of elder financial abuse continue to increase, and the elderly are particularly vulnerable to scams or to financial abuse by family members in need of money.
Raising a grandchild can be tough financially, but grandparents in this situation should be aware that there is a tax credit available that could help them.
While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home care, it is possible the state can file a claim against your house after you die, so [...]
Federal law requires that beginning on April 1 of the year after you reach age 70 1/2, you must begin withdrawing a minimum amount
from your non-Roth individual retirement account (IRA) [...]
Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky.
Here are some issues grandparents should consider before making gifts to grandchildren or other family members.
Paying for day care is one of the biggest expenses faced by working adults with young children, a dependent parent, or a child with a disability, but there is a tax credit available to help [...]
The federal government has released the 2019 federal guidelines for how much money the spouses of Medicaid recipients may keep, as well as related Medicaid figures..
If you are paying for your own insurance, you may think you do not need to sign up for Medicare when you turn 65. However, not signing up for Medicare Part B right away can cost you down the [...]
The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2019 income as a result of buying long-term care insurance.
You are turning 65 and enrolling in Medicare, but as a healthy senior do you really need to also sign up for Medicare's supplemental coverage? Not signing up initially can be very costly [...]
Technological advances have made it easier to stay connected with loved ones all the time. This has included the ability to install cameras in a loved one's nursing home room. These [...]
Hospital patients who need additional care after being discharged from the hospital are usually sent to either an inpatient rehabilitation facility or a skilled nursing facility. Although [...]
The median cost of a private nursing home room in the United States increased to $100,375 a year in 2018, up 3 percent from 2017, according to Genworth's [...]
Do you have the right Medicare plan? It is fall, which means it is time to think about whether your current plan is still giving you [...]
When one sibling is named in a power of attorney, there is the potential for disputes with other siblings. No matter which side you [...]
The Department of Veterans Affairs has finalized new rules that make it more difficult to qualify for long-term care benefits. The rules establish an asset limit and asset transfer penalties [...]
Medigap premiums can vary widely depending on the insurance company, according to a new study, so be sure to shop around before [...]
According to court documents, legendary singer Aretha Franklin did not have a will when she died, opening up her estate to public scrutiny and unnecessary costs and uncertainty.
How much you need for retirement depends a great deal on how long you expect to live. There are now many Web-based calculators that can give you an idea of your life expectancy.
The older you get, the harder it is to qualify for long-term care insurance. If you are interested in buying this insurance, it is [...]