Before we get to the question that serves as the title of this post, we have to provide some background information for the uninitiated. You may wonder why Medicaid is relevant to senior citizens when most elders will qualify for Medicare. It is true that both programs are government run health insurance programs, and they do cover many of the same things. There is however a huge difference that will explain a lot. Medicare will not pay for custodial care. This is the type of care that you … [Read more...]
Connect With the Vermont Chapter of the Alzheimer’s Association
Our law firm is devoted to estate planning and elder law matters, and we have an office in Essex Junction, Vermont. It is truly a fantastic place to call home, and the area provides residents with the best of all possible worlds. Perhaps the best thing about the city is the fact that it is a close-knit community, and locals genuinely care about one another. There are resources that people can tap into when they need assistance with all different types of challenges, and one of them applies to … [Read more...]
Face Elder Financial Abuse Head On
One of the most pressing elder law issues at the current time is that of elder financial abuse. It can be hard to imagine a time when you would be able to keep tabs on your affairs and detect threats, but things can change when you get older. Clearly, this is not a very pleasant subject to contemplate, but it is wise to meet it head on so that you can take the right steps to protect yourself. Even if you are always safe and sound on this level, there is nothing lost if you put the necessary … [Read more...]
Genworth Unveils 2019 Long-Term Care Costs
When you are looking ahead toward your retirement years, you may focus on the initial stage, when all the fruits of your labor can be harvested. You can enjoy leisure activities, spend time with family members and friends, and cross things off your bucket list. This stage of your life can certainly be very special, but it is also important to consider the twilight years that will follow. The Next Plateau As time goes on and the years pass, you may start to feel a lot less energetic than you … [Read more...]
Does Medicaid Count Assets in a Living Trust?
Medicaid and Long-Term Care Planning can be very confusing because of the extensive system of rules in place. To understand the significance of the question that we are focusing on here, some background information in helpful. The majority of people over the age of 65 will need living assistance eventually, and nearly 4 out of every 10 American senior citizens will someday reside in nursing homes. Additionally, the life expectancy for a 67-year-old man is 85 years, and that figure is 87 for a … [Read more...]
A Look at Medicaid Community Spouse Provisions
Before we get to the specific focus of this pointed post, we have to provide some background information so you know why any of this should matter to you. If you have never been financially needy, and you will qualify for Medicare when you reach the age of 65, you may wonder why Medicaid is relevant to you in any way. After all, you will already have health insurance, and you wouldn’t qualify for the program anyway, because you are going to retire with a sufficient store of financial … [Read more...]
Albany Medicaid Planning: All Assets Do Not Count
You are probably aware of the fact that Medicaid is a government health insurance program that is in place to provide a safety net for individuals that have little to no financial resources. A lot of people that have worked all their lives while saving for retirement wonder why this program would ever be relevant to them. If you are confused on this score, you should certainly understand some facts about nursing home care and the costs that go along with it. If you work for at least 10 … [Read more...]
Why Would Medicaid Planning Be Important If I’m Healthy?
Medicare will not pay for long-term care, but Medicaid will assist with these costs. Medicaid planning is important for many seniors, because long-term care is very expensive. This is something to take into consideration when you are looking ahead toward your elder years. Sometimes you can oversimplify things and wind up with a blind spot. If you have always been healthy, and you make good lifestyle choices, you may assume that you will never be in need of living assistance. However, there … [Read more...]
Preserve Resources With a Medicaid Trust
As elder law attorneys, we advise clients that have concerns about the eventualities of aging. One of the most pressing issues is the matter of long-term care and expenses that go along with it. Many people are under the assumption that Medicare will pay for in-home care or a stay in a nursing home or assisted living community. In fact, the program will not generally pay for long-term care. If you are thinking that it is likely that you will be able to take care of all your own day-to-day … [Read more...]
Veterans Aid and Attendance Special Pension Can Ease the Burden
Before we explain the Veterans Aid and Attendance special pension, we should look at some statistics that are quite relevant. When you have been able to handle all of your own activities of daily living throughout your life, it can be hard to imagine a time when you will have significant limitations. Unfortunately, nearly 3 out of every four senior citizens will someday need living assistance. Of course, it becomes more likely as you reach your mid-70s and 80s. Some people can get all the … [Read more...]
