mastheadblog26

New LTC Insurance Premium Deductibility Limits

The Internal Revenue Service has announced the 2007 limitations on the deductibility of long-term care insurance premiums from taxes. Premiums for "qualified" (see explanation below) long-term care policies are treated as an … [Read more...]

Average Nursing Home Room Tops $90,000 a Year

The average daily cost of a private room in a nursing home in Northern Virginia is $91,615 a year, or $251 a day, according to the 2006 MetLife Market Survey of Nursing Home and Home Care Costs. The average daily cost of a … [Read more...]

Medicare Preventive Services: What is Covered?

As the saying goes "an ounce of prevention is worth a pound of cure," and as you get older, taking preventative measures can keep you healthy. And if you are a Medicare beneficiary, there are a number of preventive services … [Read more...]

Pet Trusts — Important Planning for Pampered Pets

Q:   What is a Pet Trust? A:    A pet trust is legal instrument that you can create to insure your pet receives proper care after you die or in the event of your disability. In Virginia, pet trusts are authorized by Virginia Code … [Read more...]

When Should You Take Your Social Security Benefits?

As you approach retirement, you must decide when to begin taking your Social Security benefits. You have three options: You may begin taking benefits between age 62 and your full retirement age, you can wait until your full … [Read more...]

How Will the New Congress Affect Key Elder Law Issues?

The Democratic Party's takeover of both houses of Congress is likely to have financial implications for the elderly and their families, although how profound these changes will be remains to be seen. Of greatest interest to elder … [Read more...]

Medicare Open Enrollment Period Means More Decisions

If you are a Medicare beneficiary, it is time to review your Medicare prescription drug plan options. The Medicare Part D open enrollment period begins November 15, 2006, and ends December 31, 2006. During this period you can sign … [Read more...]