The United States Census Bureau issued a report back in 2010 that contained some data that is very relevant to those who are interested in elder law, retirement planning, and estate planning. Your anticipated longevity is going to be a very important piece of information to work with when you are attempting to come up with a budget for your retirement years. And of course, if you have specific ideas regarding what you would like to be able to do for your loved ones after you pass away this is … [Read more...]
Medicaid Limits Updated for the New Year
You should be aware of the fact that most people who are fortunate enough to celebrate their 65th birthdays are going to need help with their day-to-day needs at some point in time. This does not always mean that nursing home care will be necessary, but the United States Department of Health and Human Services tells us that you have a 40% chance of residing in a nursing home someday if you live to be 65. So it is indeed very possible that each of us will spend some time in a nursing home … [Read more...]
Role Reversal: Taking Care of Aging Parents
As your parents get older you must try your best to work together as a family. It can be difficult for some senior citizens to accept the reality of reduced capabilities setting in, but be this as it may it is up to the children to take the appropriate actions. When you look at the statistics you see that the majority of senior citizens require some form of living assistance eventually. Some people receive in-home care, and more often than not this care is provided by family members and/or … [Read more...]
Seniors Will Pay More for Medicare in 2013
Why should you plan ahead for retirement? After all, you are going to be receiving Social Security when you reach the age of eligibility. And, when it comes to health care expenses you have no worries because you will be eligible to participate in the Medicare program. While some people do embrace this point of view doing so can result in some rather negative consequences. The truth is that Social Security is not enough to live on comfortably in most cases. The actual average will … [Read more...]
Great Health, Long Life … Long-Term Care
We are all aware of the benefits that go along with a healthy lifestyle. As they say, an apple a day keeps the doctor away and when you feel good you really enjoy an enhanced quality of life. Entering into your retirement years on a positive note feeling good physically is fantastic, and it is certainly a goal that we should all strive to attain. The above having been said, it is wise to be pragmatic when looking ahead toward the twilight years that will follow your active retirement … [Read more...]
Consult With Lawyer Before Signing Nursing Home Contract
Sometimes you can get some insight from a relevant court case that you read about, and with this in mind we would like to share a ruling that recently took place in the state of Connecticut that is of interest to people within the elder law community. South Carolina elder law attorneys will always tell you to engage legal advice before entering into contracts that could have serious financial implications. The case that we are referring to (Cook Willow Health Center v. Judy Andrien) revolves … [Read more...]
Senior Citizen Loses Long-Term Care Insurance Suit
There was a court case resolved in the state of Kentucky recently that is interesting to people who are in the field of elder law. This case underscores the reason why it is a good idea to discuss matters with a legal professional before you take actions that you may regret later on. Back in 1992 Jeanne Crutchfield obtained long-term care insurance in anticipation of the possibility of the need for living assistance at some point in the future. Unfortunately Ms. Crutchfield was diagnosed with … [Read more...]
Senate to Consider Veterans A & A Look-Back Period
There is an upper resource limit of $2000 that you must stay within if you want to become eligible for Medicaid as a way to pay for long-term care. This figure may seem so small that there is no reason to even consider the possibility of eligibility. In fact, about two thirds of the people who are residing in nursing homes and assisted living communities do rely on Medicaid to pay for their care. This is because all of your assets do not count toward this $2000 limit. Your home, your vehicle, … [Read more...]
Be Careful When Engaging Caregivers
When you hear about the very high assisted living community and nursing home expenses we are seeing in the United States these days you are probably going to be looking for alternatives. One very logical possibility would be to simply stay at home and engage the services of a caregiver to help you as needed. While there are costs involved in this as well the expense will be considerably less than the charge for full-time residence in an assisted living community or a nursing home. You do have … [Read more...]
Will Nursing Home Costs Continue to Rise?
Nursing home expenses are rather shocking when you look into the facts. According to a MetLife survey the average charge for a single day in a private room in a nursing home in the United States was up to $239 last year. In 2010 this figure stood at $229. So the 2011 charge of $239 per day represents a 4.4% increase. There was a similar increase in 2010 as compared to 2009 costs. This is a lot of money if you were to spend a year or more residing in a nursing home. And it is very important to … [Read more...]
