Technological advances have made it easier to stay connected with loved ones all the time. This has included the ability to install cameras in a loved one’s nursing home room. These so-called “granny cams” have legal and privacy implications. The benefit of putting a surveillance camera in a nursing home is the ability to monitor … Continue reading
Month: November 2018
The IRS is increasing the amount taxpayers can deduct from their 2019 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 7.5 percent of the insured’s adjusted gross income. (The 7.5 percent threshold is for the 2017 and 2018 tax years. It is scheduled to revert to 10 percent in 2019.) … Continue reading
Hospital patients who need additional care after being discharged from the hospital are usually sent to either an inpatient rehabilitation facility (IRF) or a skilled nursing facility (SNF). Although these facilities may look similar from the outside, Medicare offers very different coverage for each. While you may not have complete say in where you go … Continue reading
With the aging population becoming increasingly tech savvy, the Social Security Administration (SSA) has moved a lot of services online. From applying for Social Security benefits to replacing a card, the SSA has online tools to help. To access most of the online services, you need to create a my Social Security account. This account allows you to … Continue reading
You are turning 65 and enrolling in Medicare, but as a healthy senior do you really need to also sign up for Medicare’s supplemental coverage? Not signing up initially can be very costly down the road. Medicare pays for only about half of all medical costs. To augment Medicare’s coverage, you can purchase a supplemental … Continue reading