The VA Veterans Pension is a beacon of support, offering monthly financial aid to eligible wartime veterans. It's designed for those meeting specific age or disability criteria and whose financial situation aligns with the established limits. This pension is a crucial aspect of the nation's commitment to honor and support its veterans in their senior years or when they face disabilities. Who Qualifies for the Veterans Pension? To be eligible for this pension, veterans must satisfy two core … [Read more...] about VA Veterans Pension: A Guide for Seniors and Disabled Wartime Veterans
Pets are a great source of companionship, love, and support for people of all ages. However, for senior citizens, owning a pet can be especially beneficial. As people age, they may find themselves living alone or in isolation due to various reasons such as retirement, loss of a spouse or friends, or physical limitations. In such cases, pets can provide much-needed emotional support and improve the overall quality of life for seniors. However, longevity can be a source of concern, and from an … [Read more...] about Pet Trust: Ensuring Your Furry Friend’s Future
As elder law attorneys, we keep a finger on the pulse of news that is of interest to senior citizens. Clearly, anything that is related to Medicare costs will be of interest. On September 27, an announcement was released by the Centers for Medicare and Medicaid Services (CMS). It breaks down the out-of-pocket costs for Medicare Part B next year. We will look at the figures, but first, we will share a broader overview to provide context. Medicare Eligibility You become eligible for Medicare … [Read more...] about Elder Law News: Medicare Part B Premiums Going Down in 2023
As elder law attorneys, we counsel clients that are concerned about legal and financial matters that they may face as seniors. Without question, long-term care is at the top of the list. Medicaid is relevant to this subject, and we will explain the Medicaid look back provision in this post. Long-Term Care and Medicare To understand why Medicaid should be on your radar, you have to digest some background information. It is natural to assume that Medicare would pay for a stay in a nursing home, … [Read more...] about What Is the Medicaid Look Back Provision?
For the most part, there is nothing good to say about inflation, and it is a frequently discussed topic these days. Many Social Security recipients are definitely impacted by rising prices, but there is some good news looming over the horizon. Social Security Cost-of-Living Adjustments (COLAs) Each year, the Social Security Administration can increase benefits to account for the cost of living. Calculations are based on the Consumer Price Index for Urban Wage Earners and Clerical Workers … [Read more...] about Elder Law Insight: High Social Security COLA Anticipated for 2023
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 think about retirement planning, do you consider the potential impact of long-term care costs? Most people are more focused on travel, leisure activities, and quality time with their families, and this is understandable. Clearly, you want to think about the good times that you will enjoy during your golden years, but there is an unpleasant truth that you should address to preserve your legacy. Medicare Gap Most seniors will require long-term care, and more than one third of … [Read more...] about Connecticut Assisted Living Costs Went Up in 2020
As elder law attorneys, we keep a finger on the pulse of matters that are important to senior citizens. Clearly, Medicare is an important piece to the puzzle, and when you are planning for retirement, you should be fully cognizant of the out-of-pocket costs. Each year, there are updates to the relevant figures. The changes for 2021 are now available, and will share them in this post. Retirement Credits to Qualify for Medicare Some people assume that you automatically qualify for Medicare … [Read more...] about Medicare Costs Updated for 2021
The Social Security Administration has released some updated figures for 2021, and we will take a look at them in this post. Medicare should be releasing their changes in the near future, and we will pass along that information as soon as it becomes available. Cost Of Living Adjustment (COLA) Prices tend to go up year after year, and the Social Security Administration (SSA) acknowledges this fact of life. The Department of Labor maintains the Consumer Price Index to keep a finger on the pulse … [Read more...] about SSA: Beneficiaries Will Get COLA in 2021
The majority of senior citizens will eventually need help with their activities of daily living, and about one third of them will reside in nursing homes. In Connecticut where we practice law, the average cost for year in a nursing home is approximately $150,000. Medicare is the primary insurance provider for seniors. Since most elders will require living assistance, and Medicare is largely for older people, you would assume that the program would pay for long-term care. In fact, the … [Read more...] about Can Medicaid Take Your Home?