The Medicaid program may be the furthest thing from your mind if you have health insurance through your employer or Medicare. However, at some point in your life, you may be very interested in the Medicaid eligibility parameters. We are going to answer a particular question that is asked about Medicaid in this post, but first, we will explain why you should care about this need-based program. Paid Living Assistance Most people assume that they will be able to handle their activities of … [Read more...] about Medicaid Answers: Can a Spouse Keep a Beneficiary’s Income?
The Medicaid program is largely ignored by people with health insurance that will qualify for Medicare when they are 65 years of age. This being stated, it should definitely be on your radar if you want to preserve your legacy for the benefit of your loved ones. It is important because of one inconvenient truth: Medicare does not pay for nursing home care. According to the state, the average cost for a month in a nursing home in Connecticut is $13,512. According to the U.S. Department of … [Read more...] about What Is the Connecticut Medicaid Asset Limit in 2021?
It is natural to assume that your health insurance needs will be satisfied for life after you qualify for Medicare coverage. Unfortunately, there is a significant expense that most senior citizens will face that is not covered by the program. Medicare will not pay for a stay in a nursing home, and it doesn’t cover custodial care that is provided by an in-home caregiver. You can expect to pay over $150,000 for a year in a nursing home in the Hartford area, and in-home care comes with a price … [Read more...] about Medicaid Planning 101
When you are planning ahead for your senior years, you should anticipate some significant expenses that are lurking over the horizon. According to the United States Department of Health and Human Services, 52 percent of seniors will need some type of paid long-term care. Over one third of them will reside in nursing homes, and some folks can receive the care they need in their homes. In Connecticut, the median annual charge for a stay in a private room in a nursing home was $167,900 last … [Read more...] about This Veterans Benefit Can Defray Long-Term Care Expenses
When you look back on your life, you invariably recognize the fact that you would act differently in some ways if you could consult with your future self. Indeed, it is said that experience is something that you get right after you need it. How can you be prepared for a situation that you have never experienced before? In some cases, you can analyze statistics and gain an understanding of potential outcomes based on the experiences of others. This definitely enters the picture when it … [Read more...] about Elder Care: Evolved Thinking Can Preserve Your Legacy
Elder law attorneys pay close attention when lawmakers talk about making changes that impact senior citizens. Medicare is an extremely important piece of the retirement planning puzzle, and any movement with regard to the guidelines is going to be big news. We are hearing a lot of chatter about a reduction in the Medicare eligibility age, and we will take a look at the details here. Expansion of Coverage When you work and pay FICA or self-employment taxes, you get something in return of … [Read more...] about Medicare Eligibility Age Reduction Is Possible
When you start to reach an advanced age, you may find it difficult to take care of all your day-to-day needs. An assisted living facility may enter your mind when you think about the subject, but you probably do not want to leave the comfort and familiarity of your own home. This is fully understandable, and in this post, we will look at an approach that can be taken to address the situation. Medicare and Long-Term Care Costs Medicare is the source of health insurance for almost all senior … [Read more...] about CHCPE Can Provide In-Home Care Solution
Elder law attorneys focus on the eventualities that seniors may face, and many of the challenges stem from Alzheimer’s disease. Everyone has heard of it, but a lot of people are not aware of its widespread nature and the overall impact it has on society. Alzheimer’s Association Statistics The Alzheimer’s Association website is probably the best place to visit if you want to educate yourself about this horrible disease. According to their site, over 6 million Americans have contracted the … [Read more...] about How Common is Alzheimer’s Disease?
We are going to look at Medicaid and home ownership in this post. But before we focus on this subject, we will explain why Medicaid should be on your radar if you will qualify for Medicare. Long-Term Care Costs The United States Department of Health and Human Services tells us that 70 percent of seniors will require some type of living assistance eventually. Over 30 percent of the oldest old have Alzheimer’s disease, and elders with this condition often require nursing home care. When you … [Read more...] about Can You Qualify for Medicaid as a Homeowner?
Before we take a look at the pros and cons of long-term care insurance, we should explain why it is relevant. Indeed, it is easy to be confused when you know you will qualify for Medicare as a senior citizen. Long-term care has to be covered, right? Whether it makes sense or not, the Medicare program simply does not cover the custodial care that nursing homes provide, and it does not pay for in-home care. Don’t Be Overconfident It is hard to imagine a time when you will need this level … [Read more...] about Should You Carry Long-Term Care Insurance?