November 2017 - Skipton Law, LLC
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Month: November 2017

For Better or for Worse, States Are Turning to Managed Care for Medicaid Long-Term Care

Read our blog to learn more about Medicare.

More and more states are switching to a managed care model when dealing with Medicaid long-term care patients, a change that has resulted in a loss of services in some cases. Many states use managed care to deliver care to their regular Medicaid populations, but until recently, the care needs of the elderly and disabled … Continue reading

Three Reasons Why Giving Your House to Your Children Isn’t the Best Way to Protect It From Medicaid

Read our blog to learn more about Medicaid.

You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it. Although you generally do not have to sell your home in order to qualify for … Continue reading

GOP Tax Plan Could Deal Blow to Seniors Paying for Long-Term Care

Do you have questions about Medicare? Call our office today.

The tax plan put forward by the Republican-led House of Representatives would eliminate many current deductions, and getting rid of one of them in particular could deal a serious financial blow to seniors and individuals with disabilities. The plan proposes eliminating the medical expense deduction, a change that will especially affect those needing long-term care. … Continue reading

IRS Issues Long-Term Care Premium Deductibility Limits for 2018

Our law office can explain your tax options.

The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2018 income as a result of buying long-term care insurance. Premiums for “qualified” long-term care insurance policies (see explanation below) are tax deductible to the extent that they, along with other unreimbursed medical expenses (including Medicare premiums), exceed 10 percent of … Continue reading