“Long-Term Care” refers to the broad spectrum of medical and support services provided to persons who have lost some or all capacity to function on their own due to a chronic illness or disabling condition, and who are expected to need such services over a prolonged period of time. Long-term care can consist of care […]
Planning for Long-Term Care (Part 1)
Are you one of the millions of Americans who made a New Year’s Resolution to plan for long-term care? Have you started it yet? As financially responsible adults, most of us are prepared for some unexpected disasters – we pay for health and property damage insurance, and many of us have taken some steps toward […]
A Roundup of Key Elder Law Numbers for 2009
Below are figures for 2009 that are frequently used in the elder law practice, including the new Medicaid spousal impoverishment figures and the long-term care insurance deductibility limits. Medicaid Spousal Impoverishment Figures for 2009 The minimum community spouse resource allowances (CSRA) is $21,912 and the new maximum is $109,560. The new maximum monthly maintenance needs […]
Elder Mediation Resolves Family Conflicts
“My daughter is insisting I move in with her,” complains Martha. “She just wants to control my life and take away my freedom,” she continues. Jenny, Martha’s daughter, worries that her mother keeps falling, and fears one day she will break her hip or hit her head. “I’ll take my sister to court before I […]
Medicaid Asset Protection
What is Medicaid Asset Protection? Medicaid Asset Protection is the process of protecting assets from having to be completely spent to pay for the devastating expenses of long-term care, while helping to ensure that you (or your loved one) get the best possible long-term care and maintain the highest possible quality of life, whether at […]
Aging is Not a Disease
It is natural that health care providers such as doctors, pharmacists and nurses will have the same attitude towards aging as other Americans. Without proper geriatric care training, these people can fall into the same trap of treating the elderly differently from younger people. According to the Alliance for Aging Research, “In recent years evidence […]
Life Estate Law Changing Soon
See update on this article here. In Virginia, a life estate in real estate has always been treated as an exempt asset for the purposes of Medicaid eligibility. Unfortunately, the Virginia General Assembly recently passed legislation that instructs DMAS (the Department of Medical Assistance Services, the agency that oversees the Virginia Medicaid program) to amend […]
Federal Nursing Home Site Now Notes Troubled Facilities
The federal Centers for Medicare & Medicaid Services (CMS) announced recently that its Web site comparing nursing homes will now identify listed facilities that have a history of poor performance.From now on, the CMS Nursing Home Compare site will label nursing homes it calls Special Focus Facilities — those that have repeatedly violated state and federal health and […]
Long-Term Care Premium Deductibility Limits for 2008
The Internal Revenue Service has announced the 2008 limitations on the deductibility of long-term care insurance premiums from taxes. Premiums for “qualified” long-term care policies are treated as an unreimbursed medical expense. These premiums — what the policyholder pays the insurance company to keep the policy in force — are deductible to the extent that […]
When is the Best Time to Purchase Long Term Care Insurance?
If you decide that long-term care insurance is the right decision to protect your assets and your family’s financial future, the best time to buy it is now, because the older you get, the more expensive the policy becomes in the long run. By buying now: 1) You avoid the risk of needing care that […]
New Report on The Role of Long-Term Care Insurance
Private insurance currently plays a small, but potentially important role in financing the long-term care of the elderly in the United States, and some believe it can be a significant element in a restructured long-term care financing system, according to a new report. The report, from the Center for Retirement Research at Boston College, examined the […]
What is Alzheimer’s Planning?
Persons with Alzheimer’s disease and their families face special legal and financial needs. Controlling the high costs of caring for a loved one with Alzheimer’s, and navigating the emotionally and physically demanding requirements of caregiving, require the assistance of a highly skilled and specialized expert in the field of Alzheimer’s Planning. Alzheimer’s Planning is a […]
Virginia’s New Long-Term Care Insurance Partnership
Virginia’s new Long-Term Care Insurance Partnership Program, effective September 1, 2007, will allow consumers to obtain Long-Term Care Insurance as part of a Medicaid Asset Protection Plan. Virginia’s Partnership Program allows individuals obtaining Partnership-qualified policies to protect assets that otherwise might have to be paid for long-term care prior to obtaining eligibility for Medicaid benefits. […]
What is Long-Term Care?
When a person requires someone else to help with physical or emotional needs over an extended period of time, this is long-term care. This help may be required for many of the activities or needs that healthy, active people take for granted and may include such things as: – Walking – Bathing – Dressing – […]
Cost of Home Health Care vs. Other LTC Options
When it comes to long-term care, which type of care is cheaper? A common misperception among the media and the public is that receiving care at home is less expensive than receiving care at an assisted living facility or a nursing home. In reality, however, which type of care is the cheapest depends on the […]
CCRC Resident Fights Move to Increased Level of Care
An 88-year-old California widow is challenging an attempt by her continuing care retirement community (CCRC) to move her from her private apartment to an assisted living unit. If she is successful, the outcome could set a legal precedent for more than 5 million Americans living in retirement communities, CCRCs, and assisted living facilities. In 1991, […]
Things to Remember at Tax Time
April 17th is approaching and it is time to begin crossing T’s and dotting I’s in preparation for paying taxes. As tax time draws near, you want to make sure you file all the proper forms and take all deductions you’re entitled to. The following are several things to keep in mind as you prepare […]
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 unreimbursed medical expense. These premiums – what the policyholder pays the insurance company to keep the policy in force – are deductible to […]
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 private room in a nursing home in the United States is $75,190 a […]
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 law attorneys and their clients is what the change in leadership on Capitol Hill will mean for the […]
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