If you are working on your long-term care plans, two things you should include are your nursing home choice and guardian selection. You want to establish an individual who can care for you if you cannot take care of yourself, and you also want to take the time to...
Long-Term Care Planning
Do you need a health care proxy?
If you are working on long-term care planning for yourself in the future, then one of the things that you should make sure you have a health care proxy. While choosing a nursing home and setting up a way to pay for your long-term expenses is important, having a health...
What do you need to do to plan for long-term care?
As a part of your estate plan, it’s smart to establish a long-term care plan. Your estate plan is there to help with a range of issues, like setting up your health care power of attorney and protecting your assets. It’s also there to assist you with Medicaid planning...
When should you start Medicaid planning for yourself?
Medicaid is a needs-based health insurance program. Individuals with income below a certain level and without significant assets can turn to Medicaid to cover their costs for health care and medical treatment. Although all retired adults can potentially qualify for...
Early Medicaid planning helps you protect your estate
Medicaid planning is important if you want to protect your assets. In the event that you need to move into a nursing home or to seek long-term medical care that relies on Medicaid for coverage, you’ll want to make sure you’ve taken the appropriate steps to protect...
How does the Medicaid look-back penalty work?
Many older Americans don't think that they will need Medicaid. They may already have Medicare and possibly supplemental insurance through their former employer. Unfortunately, Medicare is a more limited program than some people realize. The more intensive your care...
Will Medicare cover your long-term care expenses as you age?
Your need for medical support is likely going to increase as you continue to age. While you may currently still enjoy independence, mobility and good health, that can potentially change as you age. When your health declines, your health care costs increase. Most older...
New 2020 changes to Medicaid community care eligibility
Although it’s unpleasant to think about the possibility of your health declining, some form of long-term care will be part of the future for many aging Americans. Medicaid’s community care program, which facilitates home care, is undergoing a change to its eligibility...
Annuities pay when it comes to meeting Medicaid limits
Nursing homes cost a small fortune to provide care, but they might be a necessity for your loved ones. Medicaid limits could make it hard for some to get help covering costs, but annuities may hold the answer you need. A shared room in a care facility in Rochester...
3 benefits of an irrevocable Medicaid trust
After years of building up your assets to take care of your family, you may feel proud that you can bequeath a substantial inheritance. But as you get along in years, you may eventually need care in your home or a nursing facility. With costs for care as high as...