It is important to understand what you can expect from Medicare and Social Security when you are planning for retirement, including the limitations. We look at the details here, and we also provide a solution to a very significant potential challenge. Benefit Eligibility Parameters You become eligible for a full Social Security benefit when you are between 66 and 67 years of age depending on your birth year. There is a retirement benefits brochure on the Social Security Administration website … [Read more...] about Does Medicare Cover Nursing Home Care?
Why Is Nursing Home Asset Protection Necessary?
A lot of people do not understand why they should be concerned about potential nursing home costs. They adopt this stance because they think that it is unlikely that they will need this type of care. After all, if you do need living assistance, Medicare will pay for it, right? Let’s take a look at these assumptions so you can go forward with the real facts. Long-Term Care Statistics The United States Department of Health and Human Services maintains a very useful website called … [Read more...] about Why Is Nursing Home Asset Protection Necessary?
2022 Medicaid Spousal Allowances Update
As life care planning attorneys, we advise clients that are preparing to transition into different stages of life. You may need help with your activities of daily living when you pass through your senior years, and it is important to be prepared from an emotional and financial perspective. We are going to look at the updated 2022 Medicaid allowances for a healthy spouse in this post. Before we focus on these particular figures, we will provide some background information to help you … [Read more...] about 2022 Medicaid Spousal Allowances Update
Life Care Planning: Age in Place With a Medicaid Waiver
When you start to reach an advanced age, you will invariably find it to be more and more difficult to handle all your own activities of daily living. This is simply a fact of life, but if you make preparations and adapt as time goes on, you can minimize the impact. Aging-in-Place Modifications People generally adapt to their surroundings, but when it comes to this subject, you have to turn the tables. Your surroundings can bend to your will through the utilization of the aging-in place … [Read more...] about Life Care Planning: Age in Place With a Medicaid Waiver
Nursing Home Costs Can Be Devastating
Elder law attorneys assist clients that are concerned about legal and financial matters that senior citizens often face. There are a number of different issues that we deal with, but the matter of long-term care is definitely at the top of the list. You may assume that the Medicare program will pay for a stay in a nursing home if you ever need this level of assistance with your day-to-day needs. This makes sense, but in reality, Medicare will not pay for the custodial care that nursing homes … [Read more...] about Nursing Home Costs Can Be Devastating
When Should You Apply for Social Security?
As estate planning and elder law attorneys, we help clients prepare for all stages of their senior years, because one thing leads to another. Looking ahead toward your active retirement period can be exciting, and if you take the right steps, you can enjoy your spare time to the fullest. The “right steps” part is key, because it is not easy for most people to have the resources that they need to enjoy their golden years in comfort. For most, Social Security will be an important piece to the … [Read more...] about When Should You Apply for Social Security?
Can Medicaid Take Your Home?
When people first hear about the concept of Medicaid being relevant to elders, they are sometimes confused. If you are going to qualify for Medicare as a source of health insurance, why would you need Medicaid? Plus, people with resources cannot qualify for Medicaid because it is a need-based program. This line of thinking makes total sense on the surface, but when you scratch beneath it, you see a different picture. Long-Term Care Costs Medicaid should be on your radar when you are … [Read more...] about Can Medicaid Take Your Home?
COVID-19 Office Update
At O’DROBINAK & NOWACZYK, P.C., the health and safety of our Clients, Team Members, and Friends of our Firm, are certainly our priority amid concerns about the spread of the Coronavirus (COVID-19). The uncertainty around the pandemic has many people concerned about exposure to the virus. We are committed to ensuring everyone’s safety and making it easy and accessible for our community to get their long term care planning and estate planning questions answered, as well as ensure they have … [Read more...] about COVID-19 Office Update
