October 2018 - Skipton Law, LLC
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Month: October 2018

For First Time, Median Cost of Private Nursing Home Room Hits Six Figures in Annual Survey

The median cost of a private nursing home room in the United States increased to $100,375 a year in 2018, up 3 percent from 2017, according to Genworth’s Cost of Care survey, which the insurer conducts annually At the same time, Genworth reports that the median cost of a semi-private room in a nursing home is … Continue reading

Medicare Premium to Edge Up in 2019

After staying the same last year, Medicare’s Part B premium will increase slightly in 2019. The premium will increase $1.50 from $134 a month to $135.50. Some Medicare recipients have been paying a lower premium because they are protected by something called the “hold harmless” rule from any increase in premiums when Social Security benefits … Continue reading

2019 Will Bring Social Security Beneficiaries the Biggest Increase in Eight Years

The Social Security Administration has announced a 2.8 percent increase in benefits in 2019, the largest increase since 2012.  The change will put an additional $468 annually in the pocket of the average retired beneficiary. Cost of living increases are tied to the consumer price index, and an upturn in inflation rates and gas prices means … Continue reading

Is Your Medicare Plan Still Working For You?

Do you have the right Medicare plan? It is fall, which means it is time to think about whether your current plan is still giving you the best coverage or whether a new plan could save you money or offer better coverage. Medicare’s Open Enrollment Period, during which you can freely enroll in or switch … Continue reading

Have you thought about only putting one spouse’s name on your reverse mortgage? Be careful! Here’s why…

A recent case involving basketball star Caldwell Jones demonstrates the danger in having only one spouse’s name on a reverse mortgage. A federal appeals court has ruled that an insurance company may foreclose on a reverse mortgage after the death of the borrower, Mr. Jones, even though Mr. Jones’ widow is still living in the … Continue reading

What Are the Benefits of a Pour-Over Will in Colorado?

It is easy to become overwhelmed with the sheer number of options when you begin the estate-planning process. If you have very straight-forward wishes for your future estate, choosing a simple will can suffice, but it’s important to know there are alternatives. One other option is to choose a pour-over will. If you choose a … Continue reading

It’s Now Harder for Veterans to Qualify for Long-Term Care Benefits

The Department of Veterans Affairs (VA) has finalized new rules that make it more difficult to qualify for long-term care benefits. The rules establish an asset limit, a look-back period, and asset transfer penalties for claimants applying for VA pension benefits that require a showing of financial need. The principal such benefit for those needing … Continue reading