As people age, accessing healthy meals can become more challenging. According to Feeding America, one in five older adults was food-insecure in 2020. Some older adults struggle with affording healthy foods, whereas others have difficulty going to the grocery store and preparing meals when recover...
Yes. A transfer of assets may be “cured” by the return of the transferred asset, eliminating the Medicaid transfer penalty.
A Medicaid Asset Protection Trust (MAPT) is one option a person may consider to protect their assets from Medicaid and nursing homes or long-term care. A MAPT is an irrevocable trust created during your lifetime. The primary goal of a MAPT is to transfer assets to it so that Medicaid will not cou...
Although inflation is generally nothing to be pleased about, the IRS recently announced inflation-adjusted changes to the annual gift tax annual and estate tax exclusions for 2023. If you are considering wealth transfer tax planning, these are welcome increases. Gift Tax Annual Exclusion Effectiv...
The guardianship of an adult, in which a judge appoints an individual to make choices for a person over 18, is appropriate when the adult lacks capacity. Capacity is a general legal term that refers to a person's cognitive ability. For instance, when people lack capacity to make a will, they cann...
Lois Curtis – known as “L.C.” in a historic disability rights case — has died. She passed away from cancer at her home in November 2022 at age 55. Curtis, who had intellectual and psychiatric impairments, was institutionalized from her teenage years into her early 20s. She and another plaintiff, ...
When an older person requires help with daily living, options range from residential facilities to in-home care. Typically, less expensive than care facilities, professional in-home care can benefit older adults by allowing them to remain in a home setting. Although some view staying in one's hom...
Depending on each spouse's income, the nursing home spouse may or may not have an obligation to pay a portion of their income to the nursing home. If so, the community spouse must pay this “patient pay amount” to the facility. Any additional income should be transferred over to the community spou...
Every state has its own guardianship laws, but they're all similar. You will have to petition the appropriate court in your brother's state to be appointed guardian. This is often the local probate court. As part of the process, you will have to produce medical evidence of your brother's incapaci...
You spend a large portion of your life and your hard-earned money on the concept of the American dream, buying and living in your forever home. Your home is a special place, filled with memories, love, and laughter. As you age, you might start asking yourself whether your home works with your evo...
The U.S. Department of Health and Human Services (HHS) has recently started to focus on finding ways to support family caregivers by assisting them with resources to maintain their health, well-being, and financial security while they act as caregivers. As part of this, it has announced the imple...
A new rule going into effect January 1, 2023, is setting seniors up with improved access to health care coverage. Your Medicare Initial Enrollment Period (IEP) begins as you approach your 65th birthday. For the three months leading up to that milestone birthday, during the actual month of your 65...
When the COVID-19 pandemic began, the government declared a public health emergency and gave the states the ability to provide more citizens with health insurance through Medicaid. As a result, 25 percent more Americans now have access to health care, including preventative medical treatment. Wh...
A newly released study finds that seniors who get less than five hours of sleep a night may be at higher risk for chronic diseases. More than 7,000 midlife and senior men and women were part of the study on sleep duration over the course of 25 years. In high-income countries today, the researcher...
Receiving a denial at the pharmacy for a drug you need can be a stressful experience. When Medicare declines to cover a prescription, some might worry that they cannot afford the medicine out of pocket. Others might also need the treatment immediately and become concerned that the lack of coverag...
For families seeking nursing home care for a loved one, getting information on what a nursing home is truly like or who owns it is easier said than done. Many rely on word of mouth, referrals, or recommendations. Others must depend on their gut instincts and site visits as part of their decision-...
From difficulties securing transportation for medical appointments to encountering inaccessible health care websites, people with various disabilities encounter barriers to basic health care on a regular basis. Some doctors are only making these disparities worse, recent research suggests. A foc...
It is tough to know when you should step in and help your parents with their finances. You may go back and forth about when to take over. Deciding whether your parents still have the cognitive ability to manage their money is a difficult call to make. A recent report reveals why it may be importa...
No. Since SSDI is really just the right to take your earned Social Security retirement benefit early without a discount for not waiting to full retirement age, the option is no longer available once the wage-earner reaches their full Social Security retirement age.
Medicare will pay entirely for the nursing home for up to 20 days and partially for up to an additional 80, for a total of 100. Any coverage is dependent on your sister needing and receiving skilled care, which seems likely for at least part of this time. The facility should give your sister (or ...
It's no secret that health care remains one of the biggest expenses facing American retirees. Coverage through Medicare, Medicaid, or another insurer will help mitigate these costs to some extent. Yet retirees still tend to pay tens of thousands of dollars for health care over the course of their...
The Social Security Administration has announced that its beneficiaries will see a significant increase – totaling nearly 9 percent – in their monthly Social Security checks come January 2023. This cost-of-living adjustment (COLA) is the largest boost to Social Security benefits in more than 40 y...
The Social Security Administration has announced that its beneficiaries will see a significant increase – totaling nearly 9 percent – in their monthly Social Security checks come January 2023. This cost-of-living adjustment (COLA) is the largest boost to Social Security benefits in more than 40 y...
If you are considering preparing a will, this is a great first step in planning for the future. After reflecting on the basics, such as whom you want to be in charge of administering your wishes, you may wonder if there's anything you shouldn't include in your will. The answer is yes. There are s...
Each year from October 15 to December 7, Medicare offers you the option to make changes to your Medicare coverage. Changes you make during this Medicare Open Enrollment Period will go into effect the following January 1. You are not required to make changes to your coverage. But keep in mind that...
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