As we live longer, there is a greater likelihood of disability and the need for long-term care. However, most Americans have inadequate resources for such care and also lack long-term care insurance or similar insurance products. As a result, some elderly and disabled seek public...
The lead attorney for the Texas Health and Human Services Commission announced a major policy clarification on the treatment of retirement accounts as a non-countable resource for long-term care Medicaid eligibility purposes. Since long-term care Medicaid (which helps pay for nursing home care costs and...
Client’s largest resource is her $205,000 homestead which does not count as a resource for “means-tested” long-term Medicaid benefits (provided the Medicaid applicant is single and the equity limit is under $572,000 pursuant to Texas law). Client obtains long-term care Medicaid resulting in the government...
The granddaughter of an elderly California resident was recently sentenced to jail for 17 years for elder abuse after her grandmother was discovered with open wounds and bed sores which resulted in the grandmother’s death due to the granddaughter’s (and daughter’s) neglect. The daughter (who...
Several years ago, a local financial advisor recommended that his client (a married man who is retired) invest his entire traditional IRA worth $300,000 in an annuity (within such IRA). The IRA is the largest asset of the client (he and his wife have $80,000...
U.S. House GOP members released a budget proposal in June entitled “A Brighter American Future” to slash Medicare and Medicaid spending to reduce the nation’s deficit recently increased as a result of the tax law that became effective this year. Since mid-term elections are just...
Recent studies show loneliness can reduce life expectancy by eight years – not to mention quality of life. It is estimated that Medicare spends an extra $6.7 billion annually on seniors as a result of social isolation. Recognizing this problem, a California healthcare provider, Care...
Now that the new law (the Tax and Jobs Act) has been passed resulting in less tax revenue for the federal government, it is anticipated that there will be changes to Social Security, Medicare and Medicaid so that expenses will be cut. As mentioned in...
As of January 1, 2018, the equity limit for a homestead applicant (who is single) for the nursing home and “waiver” home care Medicaid program has increased to$572,000. Thus, if the equity limit is less than that, it is a non-countable resource in determining Medicaid...
Under the long-term care Medicaid Rules (which helps pay for long-term care costs), there is normally a five year “look back” period whereby the state can penalize an applicant from Medicaid eligibility if there is an uncompensated transfer within five years from when one applies...
