The Medicare program does not pay for long-term care, and given the fact that it is extraordinarily expensive this is a challenge for many senior citizens. However, Medicaid will pay for a stay in an assisted living community or a nursing home if you can qualify. There is an upper financial resource limit of $2000 that you must stay within to become eligible. So, people will sometimes "spend down" in an effort to qualify for Medicaid. But, there is a five-year look-back period. What this means … [Read more...] about Veterans Special Pension Look-Back Period Proposed
You may feel as though you will have a safety net when you achieve senior citizen status in the form of Medicare. A lot of people are under the impression that this entitlement program will pay for just about everything when they become eligible so they don't worry about budgeting for possible future medical expenses. In reality there are gaps that must be filled. One of these involves assisted living expenses. Medicare does not pay for a stay in a nursing home or assisted living community, and … [Read more...] about Medicaid Can Fill Gap
Hartford elder law attorneys speak to a lot of senior citizens who are concerned about long-term care. A stay in a nursing home or assisted living community can present quite a strain on one's retirement budget, and Medicare does not pay for an extended stay in one of these facilities. One possible solution would be to purchase long-term care insurance. While the premiums can be considerable they are less expensive if you obtain the coverage when you are younger rather than waiting until you … [Read more...] about Court Rules Against Senior in Insurance Case
Even if you expect to qualify for Medicare as a senior citizen, you should still understand a bit about the Medicaid program. This is because of the fact that Medicare will not pay for living assistance. Most seniors will eventually need help with their day-to-day needs, and custodial care is very expensive. Medicaid is relevant because it will pay for long-term care if you can qualify. However, Medicaid is a need-based program. You must be able to demonstrate financial need if you want to … [Read more...] about What Is the Medicaid Maximum Asset Limit?
The matter of long-term care is something to take seriously. Medicare will not pay for an extended stay in a nursing home, and the costs can be considerable, especially if you have to spend multiple years in such a facility. You are looking at over six figures for a single year in a nursing home in the Hartford area. One option that is available to you as you look ahead toward the possibility of incurring long-term care expenses in the future is the purchase of long-term care … [Read more...] about When Should You Buy Long-Term Care Insurance?
You may be shocked to find out the facts if you are not aware of the current cost of nursing home care in the greater Hartford area. The MetLife Mature Market Institute publishes a survey every year that lets us know where we stand when it comes to long-term care costs. The 2012 survey indicates that the average cost for a single day in a private room in a nursing home in Hartford last year was a rather incredible $410. If you do the math you are looking at an average of almost $150,000 a … [Read more...] about Nursing Home Alternatives Exist
Most people are aware of the fact that people who serve for at least 20 years in the United States military are entitled to a retirement pension. This pension certainly helps when you are … [Read more...] about Financial Assistance for Aging Wartime Veterans
When you are approach the process of estate planning in a holistic way. While there are certainly exceptions, people generally pass away after reaching an advanced age. The average life span at the present time is 78 years, but the segment of the population that is 85 and older is growing faster than any other. There is a very real possibility that you will live into your mid-eighties and beyond. Approximately 45 percent of people who are in this age group suffer from Alzheimer's … [Read more...] about Medicaid Planning & Early Signs of Dementia
Long-term care expenses are something that you should take seriously when you are planning ahead for the future. If you are like many people, you may assume that Medicare will pay for assisted-living if you need it at some point in time. In fact, Medicare will only pay for convalescent care for up to 100 days. It will not pay for custodial care, which is the type of care that you would receive in a nursing home or assisted living community. Medicaid is a government program that will pay for … [Read more...] about What Are the Disadvantages of a Medicaid Trust?
The Medicaid program is important to many senior citizens because Medicare will not pay for long-term care. If you need assistance with your activities of daily living as a senior citizen, you will have to find a way to pay the bills, because this is considered to be custodial care. Medicare does not pay for custodial care. Medicaid is key because it will in fact pay for long-term care. However, it is a need-based program, so you must be able to fit the financial profile to qualify. This is … [Read more...] about Does Medicaid Cover In-Home Care?