If you have an older loved one who is facing health related issues you likely already know how complicated the Medicare system can be to navigate. A specific coverage issue has created a problem for a number of Medicare recipients recently that you may need to be aware of in the event that your loved one is ever transferred to a skilled nursing facility or rehabilitation center from a hospital. As a general rule, Medicare benefits do not include coverage for long-term care facilities. There … [Read more...] about What Is the Medicare 3 Day Hospital Stay Rule?
Unless you have been a Medicaid recipient before you may know very little about the program. Moreover you may assume that you will never need to know much about the program because you will never need Medicaid benefits. The reality, however, is that more and more older Americans are relying on Medicaid to pay the high cost of long-term care in America, meaning that there is a good chance you will need to qualify for Medicaid at some point down the road. If you do find yourself in need of … [Read more...] about To Qualify for Medicaid Can’t I Just Add My Son/Daughter’s Name to the Title to My Home?
You likely understand the need for retirement planning in St Louis MO and have hopefully included your retirement planning in your overall estate plan. If you haven’t already started a retirement plan, it is never too early to do so, particularly in light of recent figures that highlight the estimated costs of healthcare for a retiree. The rising cost of healthcare in the United States has been at the forefront of the political agenda for some time now. Everyone seems to have an opinion on how … [Read more...] about Medicaid Planning in St Louis MO – The Costs of Healthcare
The costs associated with long-term care are worth paying attention to if you are engaged in planning for the future. The MetLife Mature Market Institute survey tells us that a year in an assisted-living facility in the United States in 2010 averaged over $39,000. The same period of time residing in a private room in a nursing home would run you over $83,000 on average nationally. According to the United States Department of Health and Human Services some 70% of senior citizens will someday … [Read more...] about Long Term Care Costs: Are You Ready?
When you are planning for the future you must address all eventualities if you want to be completely prepared. It is easy to expect that your retirement years will be full of fun and leisure time, and assume that all you have to do is prepare for this period and the subsequent passing of your assets to your loved ones after you die. However, there is an interim between your active retirement and your passing known as your "twilight years." It is important to address some of the expenses that you … [Read more...] about Assisted Living Funding Via A Reverse Mortgage
It is human nature to some extent to avoid subjects that are not especially pleasant. The problem with this is that ignoring the harsh realities of life doesn't make them go away, and this is certainly true when it come to the eventualities of aging. But anytime that you face any challenging situation, it is much better to enter it totally prepared than to be suddenly thrust into it without any knowledge or information that you can draw from. With the above in mind, we would like to suggest … [Read more...] about Long-Term Care Choice: Make It Your Own
It is important to be prepared to handle your medical expenses when you reach your retirement years, and of course Medicare is something that many people are going to be relying on. It would be logical to assume that you become eligible for your full Social Security benefit and Medicare simultaneously, but the reality is that this is not the way that the system is set up. People become eligible for full Social Security benefits at different times based on when they were born. Some would say it … [Read more...] about Retirement Planning & Medicare
Too many times you see estate planning "advice" offered online that seems to proceed from the standpoint that all readers have virtually unlimited financial resources. It's great if you're in this position and there is certainly nothing wrong with it, but the fact is that most people are not. So this type of information is really not all that helpful for 99% of the population. It is much more challenging to prepare for all the eventualities of aging when you do not have unlimited resources, so … [Read more...] about Medicaid And The Community Spouse
One of the reasons why you are almost always going to save more money than you spend when you engage the services of an elder law attorney is because they are fully cognizant of all of the options that are available. As a layperson there is no particular reason why you would understand all of the intricacies of elder law but estate planning attorneys are deeply immersed in these issues every day. And one of these matters that can be very challenging for some of our seniors is the high and rising … [Read more...] about Elder Law and Veterans A & A
There are those who don't pay particular attention to long-term care costs for two different reasons, both of which are based on faulty reasoning. Some individuals are under the impression that Medicare will take care of all their health care needs once they reach the age of 65, but Medicare does not cover long-term care. There are also those who have a "it'll never happen to me" mentality. Current statistics indicate that four out of every 10 people who reach the age of 65 will indeed require … [Read more...] about Giving Gifts To Enable Medicaid Eligibility