If you are currently enjoying your retirement years, or will be soon, the likelihood that you (or your spouse) will need long-term care is a real concern. The high cost of LTC means that paying for LTC may involve qualifying for Medicaid benefits. You may, however, be concerned about relying on Medicaid because of the asset rules. Once upon a time, qualifying for Medicaid could result in leaving a community spouse without sufficient assets to survive; however, that is no longer the case thanks … [Read more...] about Spousal Impoverishment Guidelines for 2020
Although your initial estate plan may be rather simplistic, as both your estate and your family grow over the years, your estate plan should grow along with them. Additional strategies and tools should be incorporated into your estate plan in order to address your changing needs and goals. One component that most people choose to include in their estate plan as they near retirement age, if not before, is Medicaid planning. Like most people, you may be aware of the need for Medicaid planning; … [Read more...] about Top 5 Nashua Medicaid Planning Mistakes
Each year, the month of October is designated as “Long-Term Care Planning Month” in the United States. It provides seniors, their family members, and caregivers the perfect opportunity to sit down and create or review long-term care planning. Even if you are not a senior yourself, there is a good chance that someone close to you is, or is close to retirement age. Why not take advantage of this opportunity to make sure you understand why long-term care planning is important and what you can do to … [Read more...] about October Is Long-Term Care Planning Month — Do You Have a Plan?
Most Americans recognize the need for estate planning, yet over half of them do not have an estate plan in place. The same can be said for the need to include Medicaid planning into a comprehensive estate plan. People generally acknowledge the need to incorporate Medicaid planning into their estate plan, but those same people frequently put off doing so – often until it is too late to benefit from many of the Medicaid planning tools and strategies. If you never got around to creating a Medicaid … [Read more...] about When Is It Too Late to Consult with a Medicaid Planning Attorney?
You undoubtedly know that it is important to plan for retirement in order to ensure that sufficient assets are available to live comfortably during your “Golden Years.” Hopefully, you also realize how important it is to plan for the high cost of nursing home care as well. The reality is that the average person cannot afford to pay for nursing home care out of pocket and cannot expect to get help from private insurance nor Medicare. The critical question then become “Can you get help with … [Read more...] about Can I Get Help with Nursing Home Costs in New Hampshire?
As part of the Affordable Care Act, the Medicare-Medicaid Coordination Office was established to eliminate the transition problems that are sometimes present when clients seek Medicare and Medicaid dual eligibility. As estate planning lawyers, we know the process for qualifying for Medicaid alone is overwhelming. There are the many guidelines and rules that can be confusing. From the spend down rules to the 5 year lookback period, our job is to guide our clients through the process so … [Read more...] about Understanding Medicare and Medicaid Dual Eligibility
Medical costs are on the rise across the country, despite efforts built into the new healthcare laws. For the elderly, it can be challenging to find the right Medicaid supplemental programs that can help keep them healthy and safe. Every dollar spent on home care, assisted living and nursing home care comes from one of the following four sources: Government programs, such as Medicaid, Veterans’ Benefits and Social SecurityInsurance coverage, including Life, Long Term Care, Medicare and other … [Read more...] about Medicaid Supplemental Programs
A power of attorney serves many purposes and there are many different types of these important legal documents. One of the most confusing powers of attorney is the durable power of attorney. This week, we explore these estate planning documents, their benefits and any downsides so that you can make a better choice for you and your family. As you probably know, each state defines its own laws on most matters, including estate planning. There are a lot of moving parts but it’s important … [Read more...] about Are There Real Benefits in a Durable Power of Attorney?
A full ten percent of Americans say they cannot afford to take the medications prescribed to them because of rising costs. Many will take less than instructed in order to “stretch” out the prescription or simply delay buying the medicine. Others don’t even consider the possibility of buying it later when they know they won’t have an additional $300 lying around. This is a dangerous trend, especially for our elderly. According to the U.S. Centers for Disease Control and Prevention: 15% of … [Read more...] about Are Our Elderly Skipping Medications?
The cure for the liver disease hepatitis C is impressive, so much so that Medicare spent $4.5 billion last year on this new, though pricey, medication. For those with the disease, no amount is too much. But it’s also 15 times higher than what Medicaid spent the year before on older treatments for the disease, according to “previously undisclosed federal data”. With lawmakers screaming cutbacks at every turn, is it worth it to opt for the pricier, though newer, medication that serves the same … [Read more...] about Medicare Paying 15X More for One Drug