People routinely prepare for their active retirement years, but most of them do not see a holistic picture. Yes, you have to accumulate the resources that you need to live well during your golden years, but an additional transition will probably enter the picture. Living Assistance More than half of senior citizens will need paid living assistance, and many others will receive assistance from unpaid caregivers. You should prepare for this eventuality in advance, and the first step is to … [Read more...] about Life Care Planning and the Medicaid Waiver
Elder law attorneys provide assistance to clients that are preparing for the eventualities of aging. Long-term care is one of them, and you should absorb some facts about the subject so you can approach it realistically. You will probably need long-term care. Most people would naturally assume that they will never need paid living assistance. Yes, they may get a little help here and there from family members and friends, but that should be sufficient. In fact, the statistics tell a … [Read more...] about Seven Eye-Opening Facts About Long-Term Care
When you pay income taxes, you earn retirement credits that lead to future Medicare and Social Security eligibility. You can get as many as four credits each year, and in 2021, one credit is awarded for every $1470 that you earn. This figure is adjusted to account for inflation, but it has always been very modest, so the vast majority of workers get the four credits on an annual basis. After you have 40 credits, you will qualify for these programs when you cross the eligibility … [Read more...] about Does Medicare Cover Nursing Home Care?
When you are looking ahead toward your retirement, you probably envision leisure and recreational activities, you will have time to keep yourself in shape. Most seniors can remain active, and you can make the best of your freedom when you feel well. These golden years can be a lot of fun as you reap the rewards of your hard work, but the clock will always be ticking. As time passes, you may find it more and more difficult to do things that you have done throughout your life, and the … [Read more...] about Life Expectancy Underscores the Importance of Medicaid Planning
When you start to think about the eventualities that you may face when you reach an advanced age, nursing home care will be part of the equation. It is logical to assume that Medicare will cover this type of care, but in fact, this is not the case at all. According to the state, the average cost of nursing home care Vermont is over $10,000 a month. The average length of stay is one year, and 13 percent of people that receive paid care require the assistance for more than five years. A … [Read more...] about What Is the 2021 Medicaid Asset Limit in Vermont?
Alzheimer’s disease affects far too many families, and the impact is felt on a number of different levels. In this post, we will share some key facts that will open your eyes if you have not explored the subject. Facts and Figures Everyone knows that Alzheimer’s causes dementia, but aside from the memory loss, there is another aspect that flies under the radar. If you were to name the diseases that kill the most people in the United States, breast cancer and prostate cancer may come to … [Read more...] about Alzheimer’s Is a Looming Threat
As elder law attorneys, we advise clients that are concerned about potential long-term care costs. The majority of elders will need help with their activities of daily living, and a significant percentage of them will require paid care. You can expect to pay over $125,000 for a year in a nursing home in the Burlington, Vermont area, and you are look at almost $70,000 for a professional home-health aide. Almost all seniors qualify for Medicare coverage, and it is a solid source of health … [Read more...] about Medicaid Planning: Update Figures for 2021
When people think about retirement planning, they typically focus on the golden years that can be full of travel, leisure activities, and quality time with family members and friends. This is as it should be, and if all goes well, you can enjoy the fruits of your labor during this stage of your life. At the same time, it is important to address the twilight years that will inevitably follow. Most people will need help with their activities of daily living eventually, and 35 percent of seniors … [Read more...] about Genworth Releases 2020 Cost of Long-Term Care Survey
We closely monitor the Medicaid parameters because many seniors will rely on this program to preserve their legacies. Why is Medicaid relevant to people that will qualify for Medicare as a source of health insurance? Most seniors will need help with their activities of daily living, and more than one third of them will require nursing home care. You can expect to pay well over $100,000 for a year in a Burlington area nursing home, and Medicare does not cover the custodial care they … [Read more...] about Medicaid Spouse Allowances Will Rise in 2021
As elder law attorneys, we are focused on the concerns of senior citizens and their families, and long-term care is at the top of the list. In this post, we will look at five important facts that you should fully understand so you can take the necessary steps to prepare yourself. Most Seniors Will Need Living Assistance We all know that some elders reside in nursing homes, and there are those that receive the help that they need in their own places of residence. However, the probability … [Read more...] about 5 Key Facts About Long-Term Care