Long term care insurance (LTC insurance), unlike most health insurance plans, pays for the cost of your care when you need permanent help with activities of daily living (bathing, dressing, eating, etc.). Depending on the LTC policy, covered services may include nursing home care, personal care at home, assisted living facilities and/or adult day care. While some insurance plans, including Medicare and Medigap, may pay for a limited number of days in a nursing home or short term health care … [Read more...] about Long Term Care Insurance—Is It Right For You? (An Elder Law Today Blog)
Should I Purchase Long-Term Care Insurance?
When you think about retirement planning, you naturally focus on the positive times that you can have as a senior when you put your working years behind you. This is fantastic, and everyone should make the most of their golden years. However, there are the twilight years that will follow, and you should be aware of the potential long-term care costs that you could face as a senior. The majority of Americans will qualify for Medicare at the age of 65 under currently existing laws. This would … [Read more...] about Should I Purchase Long-Term Care Insurance?
Successful Planning (An Elder Law Today Blog)
Elder law attorneys assist individuals and families in developing estate plans to avoid depleting their assets should they become ill and need long term care. For those individuals who are already in a nursing home, elder law attorneys help them qualify for Medi-Cal benefits while maximizing the amount of money they are able to keep. Here is an example of a family my office was able to assist: Planning for someone to take residence in a skilled nursing home and being able to qualify them … [Read more...] about Successful Planning (An Elder Law Today Blog)
Register for our Upcoming Free Medi-Cal Planning Workshop, Thursday, April 21
The Medi-Cal program is a jointly administered federal/state government health insurance program. In California, it is called Medi-Cal. Most senior citizens who worked throughout their lives will qualify for Medicare coverage. This is also a government run health insurance program. If you qualify for Medicare, you won't need Medi-Cal at first, and you probably wouldn't be eligible, because Medi-Cal is a need-based program. People who have a reasonable store of assets cannot qualify. In … [Read more...] about Register for our Upcoming Free Medi-Cal Planning Workshop, Thursday, April 21
VETERANS AID AND ATTENDANCE SPECIAL PENSION
Many people are not aware that the Department of Veterans Affairs offers assistance to veterans, their spouses and widows to help with assisted living and nursing home costs. This benefit is known as the Veterans Aid and Attendance Special Pension. VETERANS AID & ATTENDANCE People who have served in the military make a lot of sacrifices, but there are certain benefits that go along with service. Most of these are well understood, but the Veterans Aid and Attendance Special Pension is … [Read more...] about VETERANS AID AND ATTENDANCE SPECIAL PENSION
Do You Need to Speak with an Elder Care Law Firm?
The question of when you might need to speak to an elder care law firm can be a difficult one to answer. What is an elder care law firm? How can they help you? What if it is a loved one who needs help? This blog article will address these questions to assist you in determining when you or a loved one might need to speak with an elder care law firm. When you need an elder care law firm for yourself Elder law attorneys specialize in the legal issues that affect seniors. These issues can include … [Read more...] about Do You Need to Speak with an Elder Care Law Firm?
How Expensive Are Nursing Homes in California?
When you are devising a long-term financial plan, you should consider the eventualities that you may face during your twilight years. Nursing homes are very expensive, and many elders do require nursing home care at some point in time. There are various different reasons why people ultimately need this level of care. However, when you gain an understanding of the widespread nature of Alzheimer's disease, you can see why so many seniors need long-term care eventually. The Alzheimer's … [Read more...] about How Expensive Are Nursing Homes in California?
Is Retirement Planning Really Important?
As you are going through life working and paying taxes, you may not concern yourself with retirement planning. After all, you are paying into the Social Security program, so you will have a source of income as a senior citizen. You may also be contributing into the 401(k) plan that your employer offers, so you will have a retirement nest egg accumulated by the time you reach your sixties. When it comes to health care insurance, you will qualify for Medicare at the age of 65, so you won't have … [Read more...] about Is Retirement Planning Really Important?
Do I Have to Spend Everything to Obtain Medi-Cal Coverage?
Most people are aware of the fact that Medi-Cal is California's version of the national Medi-Cal program. It acts as a health care insurance safety net for people who have very limited financial resources. As it turns out, the program also serves another purpose. Medi-Cal pays for most of the long-term care that is received by seniors in the United States, because Medicare does not pay for custodial care. Because of this dynamic, many Californians who were never needy ultimately seek Medi-Cal … [Read more...] about Do I Have to Spend Everything to Obtain Medi-Cal Coverage?
Is It Effective Medi-Cal Planning to Add Someone’s Name to Your Bank Account? (An Elder Law Today Blog)
Don’t you hate to be the bearer of bad news? We all do. Unfortunately, sometimes we just can’t avoid it. Consider the following situation: Last month I had an appointment with Mrs. Jones. Her husband was diagnosed with Alzheimer’s three years ago, and the disease has progressed to the point where he needs long term nursing home care. At the time of the diagnosis, she talked to some friends of the family, and they told her to add the kids’ names to her bank accounts and mutual funds as a way to … [Read more...] about Is It Effective Medi-Cal Planning to Add Someone’s Name to Your Bank Account? (An Elder Law Today Blog)
