As of June 1, 2013, the Texas Health and Human Services Commission (THHSC) announced a new policy to assess a transfer penalty (assuming the transfer is within the five year “look-back” period) if a Medicaid applicant’s money is used to purchase a vehicle and the...
Although Texas does not recognize same-sex marriages, here are a few estate planning considerations for same-sex married couples (couples who were legally married in another state) who live in Texas since the U.S. Supreme Court has struck down the Defense of Marriage Act: Federal employees...
Two weeks ago the U.S. Senate Committee on Veterans’ Affairs held a hearing on Senate Bill 748 which (like its predecessor - Senate Bill 3270) attacks planning for Veterans Aid & Attendance benefits (which are benefits often received by veterans who served during wartime or...
The American Taxpayer Relief Act permanently sets the estate tax exemption at $5 million for (adjusted due to inflation) an individual and $10 million for a couple which is the same amount that has been exempted for the past two years. However, Congress did change the...
Although irrevocable 529s (for college education) and UTMAs (accounts for minors) are not considered a resource for certain Texas Medicaid programs, the Texas Health and Human Services Commission (which governs Medicaid eligibility in Texas) currently counts resources and income in prepaid tuition programs and higher...
The Obama Administration has agreed to settle a nationwide class action lawsuit to end the standard practice to require Medicare beneficiaries to show a likelihood of improvement before Medicare would pay for therapy or skilled nursing services. As previously reported in the Texas Elder Law e-letter,...
Most seniors will need to seek a better deal for a Medicare prescription drug plan for year 2013 if they are enrolled in Human Walmart-Preferred Rx Plan, First Health Part D Premier, First Health Part D Value Plus, Cigna Medicare Rx Plan One, Express Scripts...
The recent Supreme Court decision permitting passage of the Affordable Care Act will result in 3.8% Medicare surtax beginning in January 2013 and will apply to all taxpayers whose income exceeds a threshold amount which effectively raises the marginal tax rate for some. The tax...
Although children are not generally responsible for a parent’s debts, 29 states have passed “filial support” bills whereby adult children can be pursued to pay the bills of their parents including their long-term care bills. A recent appellate court case in Pennsylvania allowed a nursing...
Transfer Penalty Rules Different for those Seeking Medicaid Assistance at Home Most people in need of care would prefer to stay at home rather than go to a nursing home. However, if you don’t have long-term care insurance or other ways to pay for the cost...
