Medicare

02 Apr $1,200 TAX REBATE CHECKS IMPACT ON PUBLIC BENEFITS

Posted at 15:34h in Estate Planning, Long Term Care, Medicaid Planning, Medicare, Nursing Home, Public Benefits Protection, Social Security

Many Americans will soon be getting $1,200 stimulus checks (which are considered a tax rebate) if they are (1) of working age, (2) not an adult dependent and (3) their income is less than $75,000 ($150,000 if married). Smaller checks will be received by those...

16 Mar IRA DISTRIBUTIONS TO BE AVERAGED TO DETERMINE INCOME FOR LONG-TERM CARE MEDICAID

Posted at 16:54h in Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Social Security, Trusts

Although nothing has been officially announced, a reliable source from the Texas Health and Human Services has indicated the state will look at the annual distributions from an IRA and divide that amount by 12 to determine the monthly income for long-term care Medicaid eligibility....

01 Mar CORONAVIRUS LEGISLATION INCLUDES MEDICARE EXPANSION OF TELEMEDICINE

Posted at 16:39h in Estate Planning, Medicaid Planning, Medicare

President Trump signed Coronavirus (COVID-19) legislation on March 6 permitting expansion of Medicare coverage for telemedicine in outbreak areas to help contain and treat COVID-19. This is particularly important to those at high risk including older people and people of all ages with severe health...

11 Feb TRUMP’S MEDICAID REFORM PILL – CURE OR TOO MANY SIDE EFFECTS?

Posted at 09:00h in Estate Planning, Lawsuits, Medicaid Application, Medicaid Planning, Medicare, Social Security

In an effort to limit federal Medicaid funding, the Trump administration has offered states the option for a Medicaid block grant. Medicaid block grants have been proposed by conservatives for many years. Texas requested a block grant in its last legislative session. Although there are...

09 Feb SUCCESS STORY OF THE MONTH

Posted at 09:00h in Asset Protection, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Planning, Medicare, Nursing Home, Short Term Care, Success Story of the Month, Transfer of Death, Trusts

A married couple owns a homestead located out-of-state held in a trust. They move to Texas to be closer to their children since the wife needs long-term care. They have no long-term care insurance, and their liquid assets and income are insufficient to pay for...

30 Jan 15 QUESTIONS FOR SENIORS TO CONSIDER PRIOR TO SIGNING COHABITATION AGREEMENT

Posted at 09:00h in Assisted Living, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Mortgage, Social Security, Taxes, Veterans

As Americans continue to live longer, many have decided to cohabitate with a significant other (rather than marry) due to complications. These can include kids from a prior marriage or relationship or wealth accumulation by one or both parties. From a financial perspective, sometimes it...

27 Nov BIG BAD WOLF (LONG-TERM CARE COSTS) CAN’T BLOW DOWN HOUSE MADE OF IRREVOCABLE TRUSTS

Posted at 16:47h in Asset Protection, Beneficiary, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Power of Attorney, Probate Administration, Trusts

Irrevocable trusts are a tool commonly used by many who plan in advance to preserve resources if they desire governmental assistance to pay for long-term care costs. Although Americans are living longer resulting in increased need for long-term care, sales of long-term care insurance have...

01 May IS “BIG BROTHER” WATCHING FACEBOOK OF APPLICANTS FOR DISABILITY BENEFITS?

Posted at 15:31h in Disability Benefits, End of Life Care Planning, Estate Planning, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Social Security

Although the Inspector General of the Social Security Administration has monitored social media such as Twitter and Facebook since 2014 to determine if there is fraud by those who receive public disability benefits such as Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI),...

08 Mar SUCCESS STORY OF THE MONTH – GRANDCHILD YELLS “HOORAY” FOR GIFT THAT MEDICAID SAYS IS OK

Posted at 22:05h in 529 plan, Beneficiary, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Success Story of the Month, utma

This is a case where a client took advantage of one of the exceptions to the long-term Medicaid transfer penalty rules to shift the burden of the cost of care to Medicaid while helping fund her grandchild’s college education. Elderly single client (who has limited resources)...

16 Jan MEDICAID BIRD BOX TEN COMMON MISTAKES WHEN APPLYING FOR LONG-TERM CARE MEDICAID

Posted at 16:26h in Business, Disability Benefits, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security, Transfer of Death

As the aging population continues to grow, there is more likelihood of disability and a need for long-term care. However, the majority of elderly Americans fail to have long-term care insurance or have adequate assets to be self-insured. As a result, many elderly people rely...