People who work and pay taxes for any length of time will qualify for Medicare when they reach the age of 65, and just about everyone is aware of this fact of life. When you are younger, you probably don’t think much about Medicare, so you may not know all of the facts. It would be natural to assume that Medicare will cover every health care matter that can come your way when you are a senior citizen.
In reality, the Medicare program does not pay for long-term care. It will pay for convalescent care after an illness or injury, but it does not pay for what is called custodial care. This is the type of care you would receive if you were to reside in an assisted living community or nursing home.
Click here to read the whole report or download the PDF.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
- What Is a Crummey Notice? - March 25, 2020
- Top 5 Reasons to Choose Your Executor Wisely - March 18, 2020
- How Much Life Insurance Do I Need? - March 11, 2020
