Unfortunately, one spouse will often become ill before the other. In the event that one spouse needs nursing home care, an attorney will often tell the well spouse, often known as a community spouse, to disinherit his or her spouse. Obviously, the thought of disinheriting a spouse is a very emotional and stressful moment in … Continue reading
In 2019, the spouse of a Medicaid recipient living in a nursing home (called the “community spouse”) may keep as much as $126,420 without jeopardizing the Medicaid eligibility of the spouse who is receiving long-term care. Called the “community spouse resource allowance,” this is the most that a state may allow a community spouse to … Continue reading
Although a nursing home cannot require a child to be personally liable for their parent’s nursing home bill, there are circumstances in which children can end up having to pay. This is a major reason why it is important to read any admission agreements carefully before signing. Federal regulations prevent a nursing home from requiring a … Continue reading
A new federal law is designed to address the growing problem of elder abuse. The law supports efforts to better understand, prevent, and combat both financial and physical elder abuse. The prevalence of elder abuse is hard to calculate because it is underreported, but according to the National Council on Aging, approximately 1 in 10 Americans … Continue reading
If you will soon turn 65 and be applying for Medicare, you should carefully consider which Medigap policy to enroll in because two of the most popular plans will be ending soon. In 2020, Medicare beneficiaries will no longer be able to enroll in Plans F and C. Between copayments, deductibles, and coverage exclusions, Medicare … Continue reading
What happens if you are a high-income Medicare beneficiary who is paying a surcharge on your premiums and then your income changes? If your circumstances change, you can reverse those surcharges.
The Department of Housing and Urban Development has announced changes to the federal reverse mortgage program that will raise reverse mortgage fees for some borrowers and lower the amount homeowners can borrow.
Grandparents may be tempted to leave an IRA to a grandchild because children have a low tax rate, but the “kiddie tax” could make doing this less beneficial.
Many health care providers are still not aware that Medicare is required to cover skilled nursing and home care even if a patient is not showing improvement.
When your child reaches the age of 18, you no longer have the same level of access to, or authority over, his or her financial, educational and medical information. There are steps you can take to make sure your child is protected.