Most seniors would prefer to remain in their homes, which is usually also their largest asset. However, since many people are living far beyond the life expectancy for which they planned (or did not plan in some instances), remaining in the home is becoming a financial burden, especially for elderly widows. A reverse mortgage is sometimes a way for a senior to stay in his or her home, tapping into the value of the real estate to give the homeowner the ability to pay the real estate taxes, make necessary repairs, pay off debt, or pay for long term…
When you come to our office for the initial consultation, our promise is to make it as comforting as possible. When you leave our office feeling relieved and you have a guide to lead them through the long-term care legal maze. In helping clients navigate the long-term care legal maze we’ve set up a three-step process. The Peace of Mind Meeting At the first meeting, we will welcome you to our firm. Consider this a “get to know you meeting.” At this meeting it is our goal to make you feel comfortable and help you understand the long-term care maze that…
Our Nursing Home Guide will provide you direction if you or a loved one is facing the decision of looking at nursing homes or Medicaid in Maryland. Keep peace of mind with the information you need to insure your future security. Having a chronic, long-term debilitating illness such as Alzheimer’s Disease, Multiple Sclerosis, Parkinson’s Disease, Stroke or Arthritis can be extremely frightening and can create a great deal of uncertainty and insecurity for both the patient and his or her loved ones. The fear associated with the loss of control over the mind and/or the body coupled with fears of financial ruin can result…
Family members often experience a feeling of accomplishment when they sign their special needs trusts (SNTs), but signing trust documents is really only the first step in reaching the ultimate goal. The SNT is just a piece of paper if the clients and their team of advisers (often a lawyer, financial adviser, and accountant) have not planned how to fund the trust. Funding the Trust-Common Alternatives Some families have sufficient assets to fund their SNT by directing their assets into the trust through their estate plans. However, even these families may be concerned about future financial setbacks or long-term illnesses…
Your parents are living into their 90’s. Their savings have been depleted on the cost of care. Consequently, the only assets are their income, maybe a pension and Social Security. However, they still are at home, and need help with cooking, shopping and bathing. You receive a phone call, “I just don’t have enough to pay the caregiver next month.” What will you do? The savings are exhausted. Federal, State and Local Government programs have been cut. Medicare and Medicaid will not pay for the caregiver. Consequently, they may not get any help at all, unless they are in a…
From a recent Forbes article, a Pennsylvania state appeals court ruled that the adult son of a nursing home resident is responsible for her unpaid $93,000 bill. Pennsylvania is one of 30 states that have filial responsibility statutes—laws that impose a duty on adult children to care for their indigent parents. About two-thirds of those states, including Pennsylvania, allow long-term care providers to sue family members to recover unpaid costs. The rest, including states such as Massachusetts, have no recovery provisions. However, failing to care for a parent is a criminal offense. The rules vary widely from state to state….
Americans are living longer, so debilitating diseases such as Parkinson’s and Alzheimer’s are rising, making long-term care vital. Long-term care insurance offered those facing retirement a new option to offset the cost of assistance that many require later in life. From daily tasks such as cooking and cleaning to the all-encompassing care provided in nursing homes or assisted-living facilities, long-term care insurance covers many of the expenses that health insurance, Medicare or Medicaid generally don’t. According to the Centers for Medicare and Medicaid Services, about 60 percent of individuals over age 65 will require at least some type of long-term…
The Supreme Court’s decision to uphold the Affordable Care Act (ACA) in its entirety is a huge victory for seniors. Improvements that advance the health and well‐being of older adults, like strengthening Medicare, improving community long‐term services and supports, and providing additional elder abuse and nursing home transparency protections, will continue to help the lives of seniors. Consequently, seniors health care will continue to be protected and improved under this law. Long before this Supreme Court decision, through the Affordable Care Act, seniors began to see positive changes in their prescription drug costs, access to preventive health care, and more….
By upholding the constitutionality of the Affordable Care Act, the Supreme Court has preserved—at least for now—major benefits for seniors and key changes in the way long-term care supports and services are delivered and financed, states Forbes. Here are some provisions of the law that directly affect the frail elderly and younger adults with disabilities. Medicaid: The law is filled with important changes to this state/federal program that currently funds nearly half of all paid long-term care services. While the Supreme Court ruled that most of the 2010 health law is constitutional, it threw out one important provision that would…
In upholding the President Obama's health reform law, the Affordable Care Act, the Supreme Court ensured the preservation and continued roll-out of improvements and protections for older adults. These improvements include the extension of Medicaid’s spousal impoverishment protections to those seeking long-term care in the community, financial incentives for states to keep long-term care recipients out of institutions, the gradual closing of Medicare Part D’s infamous “doughnut hole,” expanded access to preventive services for Medicare beneficiaries, and the Elder Justice Act. The Court did, however, scale back the Medicaid portion of the law, which could mean that fewer near-elderly will…
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