Because of the fact that Medicare won't pay for long-term living assistance the Medicaid program is used by many Americans to cover long-term care costs. There is a $2,000 upper resource limit, but a lot of your valuables don't count toward this figure such as your home and your vehicles. In addition, the healthy or community spouse can keep his or her half of shared resources up to a limit that stands at $113,640 in 2012. You cannot find out that you need long-term care one day and … [Read more...] about Three-Year Look-Back Proposed for Veterans A & A
Long-Term Care
Don't Jeopardize Special Needs Benefits
You have to see the big picture and think everything through when you are arranging for the transfer of assets to those that you love after you pass away. Each situation is different and you should carefully evaluate the recipients' needs and proclivities before taking any action. This is something that is very important when it comes to making provisions for someone in the family who may have special needs. People with disabilities often take advantage of programs such as Medicaid … [Read more...] about Don't Jeopardize Special Needs Benefits
Assisted Living Carries Big Price Tag
Budgeting for the latter stages of your life involves making intelligent long-term projections. If you want to be prepared for all contingencies you should be pragmatic and conservative with regard to your estimates. With this in mind, you would do well to consider the possibility of incurring long-term care expenses at some point in time. If you are fortunate enough to live into your senior years it becomes likely that you will need living assistance before all is said and … [Read more...] about Assisted Living Carries Big Price Tag
Addressing Assisted Living Expenses
There are a lot of things to consider when you are engaged in long-term financial planning. Intelligent planning is going to require making budget projections and this can be challenging when you are looking decades into the future. Information gathering is key, and with this in mind you would do well to be cognizant of the current state of long-term care costs. Last year the average cost for a year-long stay in a nursing home in the United States reached $87,200 if you wanted to stay … [Read more...] about Addressing Assisted Living Expenses
New Long-Term Care Figures Raise Eyebrows
Indianapolis Elder Law attorneys have been keeping a close eye on long-term care costs and the news is not good. Every year the MetLife Mature Market Institute provides detailed information about the current state of long-term care costs. Since we are now in 2012, they have the 2011 figures and they have made them available to the public via their annual survey. Industry experts have predicted that long-term care costs will continually rise into the foreseeable future, and these 2011 … [Read more...] about New Long-Term Care Figures Raise Eyebrows
Being Proactive About Long-Term Care
Planning for the active retirement years that you have been looking forward to throughout your working career is important, but since everything is connected you would do well to act in anticipation of the twilight years that will follow. While it is true that senior citizens are the fastest growing age group, if you drill down even further you find that the segment of the population that is 85 and up is the most rapidly expanding group of seniors. One out of every four Americans who … [Read more...] about Being Proactive About Long-Term Care
Reverse Mortgages Can Help With Long-Term Care Costs
Planning for your retirement can be a lot of fun as you anticipate an extended period of time that will be yours and yours alone. Most of us have many things on our "to do" list and it is exciting to have the opportunity to do some traveling and otherwise do things that we never had the time to do while we were engaged in our careers. However, when you're making plans for the future, it is important to remember the time that will follow your active retirement years. Many people are not … [Read more...] about Reverse Mortgages Can Help With Long-Term Care Costs
