The Medicaid program is relevant to many senior citizens. While most people are going to qualify for Medicare coverage initially, Medicaid enters the picture because Medicare will not pay for long-term care. If you need help with your day-to-day needs, the care is considered to be custodial care rather than medical or convalescent care. Custodial care is not covered by Medicare. A very significant percentage of seniors do eventually need help with their activities of daily living. According … [Read more...] about Can I Keep My House When I Apply for Medicaid?
What Assets Can I Keep When My Spouse Qualifies for Medicaid?
Medicaid is important to many senior citizens, because Medicare will not pay for custodial care. This is the type of care that you would receive in a nursing home or assisted living community. These facilities are cost prohibitive for many Americans. Our firm practices in Kentucky and North Carolina. The average annual cost for a private room in a nursing home in these states exceeds $80,000. According to a National Nursing Home Survey, the average length of stay is 835 days. Ten percent of … [Read more...] about What Assets Can I Keep When My Spouse Qualifies for Medicaid?
What Is the Asset Maximum That Medicaid Will Allow?
The Medicaid program is relied upon by a high percentage of senior citizens who require long-term care. This is because of the fact that Medicare does not pay for custodial care. Medicare will pay for convalescent care for up to 100 days, but it does not pay for custodial care. It takes careful planning to be able to qualify for Medicaid if you have never been financially needy, because there are upper asset limits. The ceiling on countable assets is $2000 for an individual in most … [Read more...] about What Is the Asset Maximum That Medicaid Will Allow?
Medicaid Trusts: What Are the Disadvantages?
Many people hear the word Medicaid and they tune out, because they expect to be eligible for Medicare coverage. Before we take a look at the disadvantages of Medicaid trusts, we should first explain why Medicaid is relevant to senior citizens so we don't lose anyone. Long-Term Care Costs The United States Department of Health and Human Services tells us that most of the people in the United States will eventually need custodial care. This is the type of care that is received in nursing homes … [Read more...] about Medicaid Trusts: What Are the Disadvantages?
What Questions Should I Ask an Elder Law Attorney?
Most people are aware of the fact that they should plan ahead for their active retirement years. However, many of them do not think about the period of time that will follow. Elder law attorneys focus on the legal issues that seniors face. Most of these issues typically arise during these twilight years. If you want to be comprehensively prepared for the future, you should certainly consult with an elder law attorney. Let's look at some of the questions that you may want to ask. How Will I … [Read more...] about What Questions Should I Ask an Elder Law Attorney?
What Is an Elder Law Attorney in Ashland Kentucky?
Elder law attorneys focus on certain legal matters that are sources of concern for elder Americans. Many estate planning attorneys also practice elder law, because the two are inherently connected. If you consult with an elder law attorney in Ashland, Kentucky, you will learn a bit about long-term care and the expenses that go along with it. Long-Term Care Expenses Long-term care is extremely expensive. The costs have been rising on a year-by-year basis, so the expenses that you may be facing … [Read more...] about What Is an Elder Law Attorney in Ashland Kentucky?
Seniors Enrolled in Medicare Program Must Dig Deeper in 2013
The Medicare program is not something that pays for all health care needs in full without the senior having to pay any out-of-pocket costs. The fact is that there are deductibles, co-payments, and premiums, and they consistently rise over the years. In addition, with all the talk about reducing the federal deficit it would not be surprising to see these out-of-pocket expenses go up at an even faster rate in the coming years. A very difficult situation is brewing. There are thousands upon … [Read more...] about Seniors Enrolled in Medicare Program Must Dig Deeper in 2013
Alzheimer’s Looms Large for Seniors
The prospect of developing Alzheimer's disease late in your life may not be a very pleasant one, but it is a real one all the same. If you knew that there was a significant possibility of encountering some type of challenge in the future, you would probably want to prepare in advance to the best of your ability. However, many people go through life without planning ahead for the possibility of incapacity. Approximately one out of every eight senior citizens is suffering from Alzheimer's … [Read more...] about Alzheimer’s Looms Large for Seniors
People Buying Long-Term Care Insurance at Younger Ages
Everyone carries automobile insurance, and even if it weren't required, you would invariably take out a policy to avoid potential losses. The odds of totaling your car are far less than 50-50, but you would rather be safe than sorry. Yet, most people who reach the age of 65 will eventually need living assistance, and a high percentage of them have made no preparations for handling these expenses. One of the reasons why so many people are unprepared for long-term care costs is because they … [Read more...] about People Buying Long-Term Care Insurance at Younger Ages
Those Who Served May Qualify for Special Pension
The Veterans Aid and Attendance special pension is potentially available to United States military veterans or their spouses who need assistance with their day-to-day needs. Many people are not aware of the existence of this benefit, but it can certainly be a great boost to veterans who need living assistance. Most people have heard of the military retirement pension. People who serve in the Armed Forces are entitled to a retirement pension for life after serving for a minimum of 20 years. … [Read more...] about Those Who Served May Qualify for Special Pension
