Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned.
You Can ‘Cure’ a Medicaid Penalty Period by Returning a Gift Read More »
The Internal Revenue Service (IRS) has announced the amounts taxpayers of different ages can deduct from their 2022 income as a result of buying long-term care insurance, and the figures are almost the same as in 2021.
Medicare premiums are rising sharply next year, cutting into the large Social Security cost-of-living increase. The basic monthly premium will jump 15.5 percent, or $21.60, from $148.50 to $170.10 a month.
Medicare Premiums to Increase Dramatically in 2022 Read More »
When applying for Medicaid’s long-term care coverage, in addition to the strict income and asset limits, you must demonstrate that you need a level care typically provided in a nursing home.
What It Means to Need ‘Nursing Home Level of Care’ for Medicaid Eligibility Read More »
When the SSA closed its offices at the onset of the COVID-19 pandemic, it failed to provide practical ways for the elderly and people with disabilities to demonstrate their eligibility or challenge its decisions, according to a class-action lawsuit.
Rising inflation due to the ongoing coronavirus pandemic means that in 2022, Social Security benefits will go up 5.9 percent, the sharpest upsurge since 1983.
In 2022, Social Security Beneficiaries Will See the Biggest Increase in 39 Years Read More »
By James S. Rizzo, Esq.* “Marcia, Marcia, Marcia!” – The Brady Bunch (1969-1974) Anyone who ever grew up with or saw The Brady Bunch will recall the trials and tribulations of America’s most famous blended family. What seemed like a rather novel concept in the 1970s is of course commonplace today. According to a recent
Blended Families and Your Estate Plan Read More »
While it is preferable to conduct long-term care planning well in advance of needing care, if you haven’t planned ahead, there are some strategies available to avoid spending all your assets.
Better Than No Loaf: Medicaid Planning Using “Half a Loaf” Strategies Read More »
Individuals who are researching nursing homes can now see staff and resident vaccination rates along with other quality and safety measure information at Medicare’s Nursing Home Compare website.
COVID Vaccination Information Added to Medicare’s Nursing Home Compare Site Read More »
By James S. Rizzo, Esq.* “What’s in a name?” – William Shakespeare To answer Shakespeare, “Everything!” Many people may not associate naming beneficiaries on insurance and financial documents as “estate planning” because it usually does not involve a visit with an attorney. However, what is normally the easiest form of estate planning is often neglected
5 Reasons To Keep Your Beneficiaries Up to Date Read More »