Category archives: Long-Term Care Planning
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3 weeks ago
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We are living in a time of change and ongoing uncertainty. During the last month we experienced a change in U.S. government leadership from the Trump to the Biden Administration, and with this change comes the potential for new policies that may potentially affect many aspects of our lives, includin... [read more]
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4 weeks ago
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Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options.
Long-term care – care in a nursing home or at home -- may be paid for in four main ways:
Out-of-pocket. If y... [read more]
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2 months ago
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Medicare premiums are set to rise a modest amount next year, but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50.
The Centers for Medicare and Medicaid Services (CMS) announced the premium and other Medicare cost increas... [read more]
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2 months ago
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In some circumstances, immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. Careful planning is needed to make sure an annuity will work for you or your spouse.
An immediate annuity, in its simplest form, is a contract with an insurance company under... [read more]
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3 months ago
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This is a very different holiday season for many of us. We continue to live in a time of great concern and uncertainty about the ongoing Covid-19 pandemic, and many of us are altering our typical plans and traditions due to the risks of the coronavirus. We are all doing the best we can to be cautiou... [read more]
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4 months ago
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The Social Security Administration has announced a 1.3 percent rise in benefits in 2021, an increase even smaller than last year’s.
Cost-of-living increases are tied to the consumer price index, and a modest upturn in inflation rates and gas prices means Social Security recipients will get on... [read more]
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4 months ago
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The COVID-19 pandemic has been particularly devastating for nursing homes and their residents. Aside from the tragically disproportionate loss of life, care for surviving residents has been delayed or interrupted due to infection, facility lockdowns or other health system disruptions. In such cases,... [read more]
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5 months ago
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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 Home Compare site and user reviews can help with the decision making.
The official Medicare website inc... [read more]
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5 months ago
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We are living in a time of uncertainty. There remains much concern about the ongoing Covid-19 pandemic, our country is experiencing unprecedented social unrest, and we're in the middle of a contentious political campaign. We are all affected by all of this in some way or another, and during such a c... [read more]
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5 months ago
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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.
Medicare
If you have original Medicare (Plans A and B), you can move anywhere in the country and you should still be c... [read more]
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5 months ago
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We are often asked about how important it is to designate beneficiaries on accounts as part of Estate Planning.
Our answer is that it is very important to designate beneficiaries on all accounts to help avoid probate of an estate after the account holder’s death. With proper beneficiary designa... [read more]
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5 months ago
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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. High unemployment rates mean Social Security shortfalls could begin earlier than projected.
Social Security retirement benefi... [read more]
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