Category archives: Long-Term Care
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5 months ago
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You may not foresee ever needing assistance with your day-to-day life. However, research shows that seven in 10 adults aged 65 and older will require long-term care at some point in their later years. Meanwhile, the U.S. population continues to age rapidly. Americans aged 65 or older are on track to... [read more]
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5 months ago
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Even if you have a long-term care insurance policy, you may likely be hoping that you won't ever have reason to use it. Regardless of what the future holds, there's one silver lining of which you may not be aware. That is, premiums on many long-term care insurance policies are in fact tax-deductible... [read more]
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2 years ago
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Nursing home evictions, or involuntary discharges or transfers, disrupt the lives of residents, leading to homelessness, separation from familial support systems, and loss of care. As federal law covers all federally funded nursing home residents, nursing home evictions are legal only in particular ... [read more]
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2 years ago
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A federal court has ruled that hospitalized Medicare beneficiaries who were switched from inpatient to observation status can appeal the decision, making it easier for them to receive coverage for subsequent nursing home care. The ruling appears to bring to an end more than a decade of litigation on... [read more]
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3 years ago
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When one spouse is in a nursing home and applying for Medicaid, planning has to take into account the possibility that the spouse who is not in the nursing home (called the "community spouse") may pass away first. This is because the community spouse's death may make the spouse in the nursing home i... [read more]
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3 years ago
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Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned.
In order to be eligible for Medicaid, you cannot have recently transferred assets. Congress does not want you to mo... [read more]
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3 years ago
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When applying for Medicaid’s long-term care coverage, in addition to the strict income and asset limits, you must demonstrate that you need a level care typically provided in a nursing home.
Whether you are applying for nursing home coverage or through a Medicaid waiver program for coverage a... [read more]
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3 years ago
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Medicaid long-term care benefits traditionally pay mainly for nursing home care, but the federal government can grant “waivers” to states allowing them to expand Medicaid to include home and community-based services. The downside is that receiving care in a nursing home is an entitlement, while ... [read more]
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3 years ago
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President Biden has introduced a plan to spend $400 billion over eight years on home and community-based care for the elderly and people with disabilities. The money would go to expand access to care and support higher-paying caregiving jobs.
As the elderly population grows, our long-term car... [read more]
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3 years ago
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Long-term care is the care you need if you can’t perform daily activities on your own for an extended period of time. There are a number of different ways that long-term care can be provided.
Most long-term care involves assisting with basic personal needs rather than providing medical care. You ar... [read more]
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4 years 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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4 years 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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