Category archives: Medicaid
-
-
-
6 years ago
-
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.
In order to be eligible for Medicaid, applicants must have no more ... [read more]
-
-
-
-
6 years ago
-
One question that we're often asked by clients is if they will be financially prepared for retirement. Our answer is that with proper Estate and financial planning, they can plan to meet the income necessary for the different phases of their lifetime while also considering their family's current and... [read more]
-
-
-
-
6 years ago
-
While most of the new tax law – the Tax Cuts and Jobs Act – has to do with reducing the corporate tax rate from 35 percent to 21 percent, some provisions relate to individual taxpayers. Before we get into the details, be aware that almost everything listed below sunsets after 2025, with the tax stru... [read more]
-
-
-
-
6 years ago
-
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.
Although you generally do not have to sell your home in order to qualify for Med... [read more]
-
-
-
-
6 years ago
-
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.
The annual gift tax exclusion for 2018 is rising from $14,000 to $15,000. This means that any person who gives away $15,000 or less ... [read more]
-
-
-
-
6 years ago
-
We are often asked by clients if giving gifts to their family members will affect them adversely if they need to apply for Medicaid to cover the cost of nursing home care. Our response is that while current federal law permits gifts up to $14,000 annually, per individual, without the recipient havin... [read more]
-
-
-
-
6 years ago
-
ABLE accounts are a great new savings tool for individuals with disabilities, but not all people with disabilities are eligible to open these accounts. The rules for determining eligibility are for the most part uncomplicated, although one requirement is proving controversial.
Created by Con... [read more]
-
-
-
-
6 years ago
-
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.
Cost of living increases are tied to the consumer price index, and an upturn in inflation rates ... [read more]
-
-
-
-
7 years ago
-
We are asked regularly about how to cover the high cost of nursing home care. This is a serious concern for many, as it appears that these costs for skilled care continue to rise: www.floridaelder.com/nursing-home-costs-rise-sharply-2017/. Fortunately, with proper planning, there are ways to prepar... [read more]
-
-
-
-
7 years ago
-
One of the concerns often expressed to us by clients is how they or a loved one can qualify for Medicaid for long-term care when their gross income exceeds the monthly maximum limit of $2,205 in Florida. For these clients, a solution we provide is helping to set up a Qualified Income Trust in orde... [read more]
-
-
-
-
7 years ago
-
Over the past several years, crowdfunding and personal fundraising have become popular ways to raise money for people in need. Crowdfunding cuts out the charitable middleman, allowing a person or organization in need to appeal directly to the general public via the Internet in the hope of raising m... [read more]
-
-
-
-
7 years ago
-
One of the most frequent questions we get asked by clients is how to apply and qualify for Medicaid to cover the high cost of a skilled nursing home for the care of a loved one. We receive calls about this almost daily from spouses and family members who are in crisis or near-crisis situations, and ... [read more]
-