Medicare is a program that you pay into when you are working throughout your life. Payroll or self-employment taxes are used to fund the program. You qualify for Medicare coverage once you reach the age of 65 , and you go forward with health insurance during the latter portion of your life. Medicaid is a government program that provides health care for people that don't have health insurance and don't have enough money to pay for health care. There's no particular age at which you become … [Read more...] about Can You Give Away Assets to Qualify for Medicaid in California?
If you are among those who are under the impression that Medicare will take care of everything once you are a senior citizen, you would do well to understand the fact that nursing home expenses are not covered by Medicare. This is a significant challenge for many individuals because nursing home care is very expensive. Across the country as a whole, the cost of a private room in a nursing home averaged over $90,000 last year. This average figure is higher in the state of California. Statistics … [Read more...] about Elders, Nursing Homes & Medi-Cal