Medicare does not pay for all the nursing home costs. Medicare Part A covers up to 100 days of "skilled nursing" care per spell of illness. However, the definition of "skilled nursing" care and the other conditions for obtaining Medicare coverage are rigorous. Consequently, few nursing home residents receive the full 100 days of coverage. Therefore, Medicare pays only about 9 percent of nursing home care in the United States. Medicaid will pay for nursing home costs. However, their are stringent qualifications. Check out the 2011 Medicare and You Handbook on the Medicare website ensure you receive the nursing care…
We help people navigate thru the Medicaid maze, provide legal and financial solutions, and help you alleviate your frustrations and time involvement. For the FREE GUIDE, to protect yourself, your family, and insure your Quality of Life click on “The Planning Ahead Alzheimer’s Guide” “Caring For Someone With Alzheimer’s Disease” 1. Do you reside in Maryland? Yes No 2. Do you worry about long term care or nursing home costs? Yes No 3. Are you confused about Medicaid or VA benefits? Yes No 4. Is being discharged from the hospital and returning…
In April 2011, as part of its 2012 budget resolution, the U.S. House included a proposal to reduce Medicare spending by transforming the program into a system sometimes called "premium support" or vouchers. Such an approach also has been a central element of other proposals by national leaders seeking to reduce the federal deficit and national debt. This Kaiser Family Foundation brief reviews the evolution of the premium support concept, examines key policy decisions and issues that would affect its impact, and considers the implications for both Medicare and beneficiaries' out-of-pocket spending. It looks at several key issues, including…
In this article, MarketWatch’s Robert Powell takes on the problems and the hype surrounding Social Security and Medicare, as well as what they mean to you. The article first moves to cut through the media-created frenzy and outline some of the reasons why the situation isn’t so bad and that it’s important not to panic (you may also want to read a related article on retirement fears, also from MarketWatch: http://www.marketwatch.com/story/dont-let-fear-ruin-your-retirement-2011-05-23.) A few of the tips: continue working at least until your full retirement age, or to age 70 if possible, keep your skills up to date, and be sure…
If you have an elderly loved one living in a nursing home, especially if they suffer from dementia, you may want to double-check their prescription medications. A recent government audit on Medicare spending shows some rather alarming practices in regard to the use of powerful atypical antipsychotic drugs. As The New York Times reports, nearly 1 in 7 nursing home patients, nearly all of them with dementia, are given powerful antipsychotic drugs even though the drugs are not approved for such use and are known to increase the risk of death, especially in patients with dementia. Ostensibly, the purpose of…
If you or a loved one are enrolled in Medicare, you might want to take advantage of some of the free preventive care screenings now available. Starting this year, seniors enrolled in Medicare no longer have to pay for more than a dozen tests and other preventive health care services. These benefits, which also include an annual wellness exam, are part of the new federal health-care law. But big crowds are not lining up for the free mammograms or colonoscopies. Why not? Well, honestly, some of the tests are unpleasant and most people would prefer not to undergo a colonoscopy…
If you (like most of us) were counting on Medicare to provide for your health care needs in retirement, it seems you may be standing on shaky ground. Medicare’s sustainability has been questioned for some time, and as the country turns toward the business of debt reduction Medicare cuts seem inevitable. The future of Medicare and Medicaid, as well as the source, quality, and type of care that seniors receive is in the hands of politicians now, so you may want to keep a weather eye on Capitol Hill. I’ve previously directed your attention to the House Republican plan for…
If you were born after 1956, listen up: Medicare may not be there for you when you retire. Now, this is not just some statistical research mumbo-jumbo. No, The Wall Street Journal last week reported in their SmartMoney section that House Budget Committee Chairman Paul Ryan’s solution to stem rising Medicare costs is to end the current Medicare program for people born in 1957 and after. Starting in 2022, when those American begin turning 65, they would no longer get their medical bills paid directly by the government. According to the Centers for Medicare and Medicaid Services, Medicare spent an…
It is unclear whether Speaker of the House John Boehner (R-OH) and Senate Majority Leader Harry Reid (D-NV) will be able to come to an agreement regarding the federal budget for the rest of this fiscal year. The House has offered a short-term, one week continuing resolution with $12 billion in cuts from fiscal year 2010 funding levels for the coming week. The Senate has countered with a proposal for a one week continuing resolution at the current funding levels. The President is not encouraging these short-term solutions and is pressing for a long-term agreement. We are monitoring the budget…
This phase occurs during the final years of the accumulation phase and should begin when you reach 50 years old or are 15 years away from retiring, whichever happens first. Now is the time to get your plan in place, making sure your finances are lined up correctly for retirement day so nothing will be left to chance. If you work for a company with a benefits specialist, arrange an appointment to become informed about the various ways you can convert your employer retirement savings into a stream of income or an IRA. Give yourself time to learn the ropes…
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