If you are going to qualify for Medicare when you reach the age of 65, and you will have resources when you retire, you may never consider the relevance of Medi-Cal. After all, this is a government health insurance program for financially needy individuals and families. This line of thinking is understandable, but Medi-Cal may in fact be quite important, because this program will pay for long-term care. Since Medicare is a health insurance program that is designed to address the health care … [Read more...] about Medi-Cal Updates Key Figures for 2020
Medicaid is a jointly run federal/state government program that provides health insurance for people who have very limited financial capabilities. In the state of California, the program is called Medi-Cal. Though it is a need-based program, Medi-Cal is very important for a significant percentage of senior citizens who were never financially needy throughout their lives. This is because Medi-Cal pays for long-term care. Medicare will not assist with long-term care expenses. Medi-Cal … [Read more...] about What Is the Medi-Cal Monthly Maintenance Needs Allowance?
There are different types of trusts that are used for different purposes. One of the major distinctions between trusts is that some of them are revocable, and some of them are irrevocable. First, we will look at a common type of revocable trust called a revocable living trust, and we will then draw a contrast between this type of trust and a Medicaid/Medi-Cal trust. Revocable Living Trusts A revocable living trust is largely utilized as a tool to facilitate the avoidance of probate. When you … [Read more...] about What Are the Differences Between a Revocable Living Trust and a Medicaid/Medi-Cal Trust?
When you are evaluating your potential retirement expenses, you should take the matter of long-term care very seriously. It is more likely than not that you will eventually need help with your activities of daily living. Long-term care is very expensive, and Medicare will not pay for it. Medi-Cal is a government health insurance program that will pay for long-term care if you can qualify. It is California's version of the national Medicaid program. Because of the exorbitant costs associated … [Read more...] about What Assets Can I Keep When My Spouse Applies for Medi-Cal?
The government run health insurance program for people with significant financial need is called Medicaid in most of the 50 states. In California, this program is called Medi-Cal. This is a program that is jointly administered by the federal government along with each respective state government. Every state has a certain amount of latitude with regard to the precise way that the program is administered. Based on Need Medi-Cal eligibility is based on financial need. There are rather complex … [Read more...] about What Are the Disadvantages of a Medi-Cal Trust?
As a person who is going to be qualified for Medicare later in your life, you may wonder why Medi-Cal would be relevant to you. Medi-Cal is a health insurance program for people with virtually no financial resources, right? If you expect to retire with savings and income, you may assume that you would never need to concern yourself with Medi-Cal. In fact, Medi-Cal is quite relevant to a very significant percentage of senior citizens. While it is true that you qualify for Medicare at the age of … [Read more...] about Isn’t Medi-Cal Only for the Poor?
We make an effort to provide estate planning and elder care information to people here in the greater San Jose area on an ongoing basis. On the electronic level we maintain this blog and make sure that it is updated regularly with useful content. In addition to the blog, our website has a section that contains a rather extensive library of free special reports. The special reports examine various different aspects of estate planning and elder care, and you can download as many reports as you … [Read more...] about Register Now for Free Estate Planning and Elder Care Seminars and Workshops
When you are planning ahead for retirement you may envision the opportunity to cross things off your bucket list. Good times lie in wait, and you have a retirement dream. You are probably not budgeting for long-term care, and Medi-Cal may be the last thing on your mind. Why Medi-Cal? Why should someone who has saved for retirement care about Medi-Cal? People who have worked and paid taxes all of their lives are going to be qualified for Medicare when they become 65. You may think that if you … [Read more...] about Is There a Medi-Cal Asset Maximum?
Medicare is a government health insurance program that is available to seniors who have paid into the program sufficiently during their working years. Because of the fact that you are going to be eligible to enroll in the Medicare program, you might wonder why Medi-Cal may be relevant to you when you are a senior citizen. The reason why a significant percentage of elders who were previously enrolled in the Medicare program ultimately qualify for Medi-Cal is because they need assistance with … [Read more...] about Medi-Cal Planning in California: When Is it Too Late?
What is a durable property power of attorney? A durable property power of attorney is a legal document where one person (the principal) authorizes another (the agent) to act on the principal’s behalf regarding financial decisions. It is an estate planning document which allows a person to plan for the care and control of property in the event he or she becomes incapacitated. Powers of attorney are the single most important documents to put in place so that a family member or trusted friend will … [Read more...] about Durable Property Powers of Attorney (An Elder Law Today Blog)