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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