Since it was established in 2005, the Medicaid Money Follows the Person (MFP) Program has given people with disabilities the choice between living in a long-term care facility or receiving care in their home or a community-based setting. MFP helps provide the necessary support that allows people...
Many people living with a disability must make ends meet on a very fixed income, often limited to Social Security Disability Income (SSDI). Paying a student loan on a fixed income can be a huge hardship someone in this situation. If you are permanently unable to work due to a disability, you may ...
“Decedent” is a legal term that refers to a person who has died with unsatisfied legal obligations. At the end of their life, a decedent has some legal duties that must be fulfilled through a representative. For example, decedents remain obligated to satisfy certain debts incurred during their l...
A sole benefit trust is a helpful estate planning tool if your family has cross-generational support needs. If a senior with more than $2,000 in assets wants to apply for Medicaid – but also wants to provide for a disabled relative – a sole benefit trust may be a good choice. What Is a Sole Be...
In November 2022, the Centers for Medicare and Medicaid Services (CMS) announced that Medicare coverage will be expanded to include medically necessary dental services. This change in Medicare rules will allow people with life-threatening conditions to receive dental care and operations related ...
Many older adults face difficulties accessing and preparing meals. Yet eating a nutritious diet is essential for maintaining health, particularly as we age. For those with barriers getting to the grocery store and preparing food, meal delivery services can help. Meal delivery can support individ...
While a guardian can support the protected person by making important decisions, in some cases, an individual may wish to change or dissolve the arrangement. The ward, their family, or other involved people might feel that the guardian is not doing a good job. They may then petition the court fo...
No. Just one car is noncountable. However, if one of them is really cheap, maybe it will fall within the countable asset limit.
There are various benefits to creating a testamentary trust. This article discusses the benefits of adding a testamentary trust to your estate plan. What Is a Testamentary Trust? A testamentary trust allows a testator to manage wealth by giving a trustee instructions for distributing their proper...
Recent findings show an information gap among Medicaid recipients regarding the need to re-enroll for benefits after the COVID-19 Public Health Emergency (PHE) ends. Medicaid recipients are inconsistently informed about the end of the PHE and its effect on their health insurance benefits in terms...
A charitable lead annuity trust (CLAT) is an estate planning tool whereby a person (grantor) creates a trust that initially benefits a charitable organization, foundation, or other qualifying entity for a defined period. After this time ends, the CLAT's remaining assets are distributed to non-ch...
When a person petitions the court for guardianship over an adult, the adult typically benefits from having independent legal counsel. Yet not all states require independent counsel for the proposed protected person. If you or your loved one are facing a guardianship or conservatorship case in co...
Assets. But check with your local Medicaid agency or a local elder law attorney to be certain. Sometimes there are local rules that differ from the standard ones.
Yes, to the extent they exceed 7.5 percent of your mother's adjusted gross income and are for care under a plan provided by a licensed health care provider. Check out this article for more information.
Although Medicaid and Medicare are both public health insurance programs, they have essential differences. Medicare is a federal program for older adults, people with disabilities, and individuals with end-stage renal failure. Medicaid is federal-state assistance for those with limited incomes. ...
You may be nervous about whether Medicare will cover a second opinion if you wish to confirm whether a medical treatment or surgery is right for you. Given the cost of doctor visits today, the prospect of an out-of-pocket expense for a second opinion is understandably concerning. Under Medicare P...
Persons living with a disability have the right to engage in full-time, part-time work, or self-employment. In doing so, they should be able to be paid minimum wage and be part of an environment that has both disabled and non-disabled persons working together, with opportunities for advancement ...
The payments will be considered income and will have to go to the nursing home to contribute to paying for your cost of care.
In October 2022, the Internal Revenue Service (IRS) announced contribution limitation adjustments for employee retirement plans in response to inflation. The IRS issued Notice 2022-55, which describes cost-of-living adjustments for retirement and pension plans. The changes are effective January ...
The Centers for Medicare & Medicaid Services (CMS) has released the 2023 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures. What Are Spousal Impoverishment Rules? Spousal impoverishment is a concern for older c...
If the years since the COVID-19 pandemic have taught us anything about isolation, it is loneliness makes life much harder. A recent study found that loneliness can not only decrease a person's quality of life, but in fact accelerate aging – even more so than smoking. Meanwhile, a separate study...
Required Minimum Distributions (RMDs) are the minimum amounts a retirement plan account owner must take out each year. RMDs begin when a person reaches either age 72, 70½ if they reached this age before January 1, 2020, or the year in which a person retires (if after age 72). There are some exce...
Assisted living facilities support older adults with daily living while fostering their independence. Individuals who do not require round-the-clock nursing but need help with everyday activities like bathing, housekeeping, medications, and meal preparation can benefit from assisted living. Some...
It depends on who the beneficiary of the life insurance was. If it was your dad, which sounds like the case, then it's his money. If he needs to apply for Medicaid benefits during the next five years it could cause a penalty, meaning he would be ineligible for benefits for a period of time based ...
Totten trusts, or payable-on-death bank accounts, are an estate planning tool that allows you to transfer money to a chosen person upon your death. When you make a Totten trust, you put funds into a revocable trust and designate a beneficiary to receive them. As the individual who made the accou...
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