Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
St. Louis Estate Planning & Elder Law Attorneys
An ABLE account is a great strategy for someone who became disabled by age 26. An ABLE account may be income tax-free. It has other unique benefits for a disabled person. Read on to learn more about the ABLE account and how it can help. ABLE Accounts … [Read more...]
Only 44% of Americans have even a simple Will. We procrastinate for several reasons. Learn those reasons and how to push past them. Learn, briefly, why planning is important. Estate Planning is Too Important to Procrastinate … [Read more...]
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...]
Medicaid can be a blessing to those who have few assets; however, qualifying for long-term care with Medicaid can be difficult. Many states, including Missouri, are trying to increase the amount of money people put toward their own care in order to make Medicaid funds cover a growing elderly population. A long-standing requirement when applying to Medicaid is the five year look-back period which is a period during which any gifts or transfers of assets will be counted against the applicant. Five … [Read more...]
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...]
The Affordable Care Act has changed many Medicaid eligibility rules since it took effect at the start of 2014; however, the changes do not affect everyone involved with the program. In the past, anyone applying would be subject to an asset test to see how much the applicant had in cash or other countable assets. Now, those asset tests are no longer needed for many people. For those under the age of 65 and who are not disabled or blind, income is the qualifying factor. This is why so many people … [Read more...]
The average person knows very little about the Medicaid program unless they have been a Medicaid recipient in the past. You may assume that you have no reason to know much about the program because you will never need it; however, chances are good that you, or someone close to you, will need Medicaid benefits in your older years. For this reason, it is important to understand some of the basic eligibility criteria for Medicaid now so that you can include Medicaid planning into your overall … [Read more...]
Advances in technology and medicine over the last several decades have led to Americans living longer and enjoying a better quality of life. Those same advances often mean that a patient is able to remain in his or her home who would have been committed to a long-term care facility in the past. The ability to remain home, however, frequently depends on access to in-home care and services. Because many health insurance policies do not cover the costs associated with in-home care a patient who … [Read more...]
Because the average life expectancy rate has been steadily climbing with each passing generation you should be planning to live into your 80s or 90s. While this is good news overall, there is often a financial cost to living longer. In fact, the cost of long-term care can quickly wipe out your life savings. Qualifying for benefits under the Medicaid program may be an option; however, failing to plan ahead could disqualify you for the Medicaid program. As a general rule, the longer you live the … [Read more...]
Whether you are a senior in need of assistance with the high cost of healthcare or you have an elderly family member who needs assistance, both the Medicaid and Medicare program may be able to help. Understanding the basic differences between the two programs will help you decide whether either program might be able to help. Both programs are funded by the federal government, but Medicaid is administered by the states. The eligibility guidelines for Medicare are the same for everyone. Medicaid … [Read more...]
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