When you are planning for retirement you must know the basics about Social Security, and with this in mind we would like to look at three of the most frequently asked questions. Where do I submit my application? Back in the day before the advent of the Internet the way that you would apply would be to go down to the office if you were capable of doing so. This is still an option for you if you prefer face-to-face interactions. However, the Social Security Administration website is set up to … [Read more...] about Three Frequently Asked Social Security Questions
If you are not concerned about incurring nursing home expenses late in your life you should be. These costs are extraordinary, and they are steadily rising as the years pass. There are those who are under the impression that it is unlikely that they will ever need care. But if you were to ask these individuals if they expect to live to the age of 65 virtually every one of them would say yes. Statistics provided by the United States Department of Health and Human indicate that the majority of … [Read more...] about Are You Concerned About Potential Nursing Home Expenses?
A consultation with an elder law attorney is a must for people who are serious about planning for the eventualities of aging. The first thing to take into consideration will be retirement planning. Given the limited income that will be derived from Social Security you must understand exactly what to expect and take steps to build your own personal financial underpinning over the course of your life. Understanding the expenses that you may be facing is part of the equation. As we all know … [Read more...] about Medicare Recipients Should Note 2013 Changes
Nursing home care is extremely expensive these days, and you certainly want to know exactly what you are getting into before you sign a contract with a nursing home either for yourself or on behalf of someone else. If you make assumptions and sign on the dotted line without having a complete understanding of what your responsibilities are you could find yourself in a difficult situation later on. This is something that a Connecticut woman found out about firsthand not too long ago. A court … [Read more...] about Seek Legal Counsel Prior to Signing Contracts
According to the Kaiser Family Foundation you have a 40% chance of eventually residing in a nursing home if you are fortunate enough to reach the age of 65. Aside from nursing homes elders sometimes live in assisted living communities, so there is indeed a very real chance that each one of us will need living assistance eventually. When you are budgeting for the future it is very important to understand the fact that Medicare will not pay for a long-term stay in a nursing home or assisted … [Read more...] about Will Medicare Pay Nursing Home Expenses?
Any time you enter into a contractual agreement the conventional wisdom is to make sure that you "read the fine print." When it comes to long-term care insurance you should certainly take this advice to heart. Given the state of nursing home costs long-term care insurance is a very viable option for many people. However, is a good idea to consult with an elder law attorney before you make any final decisions. With the above in mind a case that was decided by a court in Kentucky recently … [Read more...] about Elder Law Case of Interest Decided in Kentucky
Planning for expenses that you can accurately predict is hard enough, but when you are trying to figure out how much you can expect to pay for long-term care in perhaps 20 years or more you are really faced with a challenge. The Cleveland elder law community has been quite concerned about the rising cost of long-term care for a while now and experts say that we can expect upward trending to continue into the future. Over the last couple of years the average annual cost of a stay in a … [Read more...] about Long-Term Care Costs: Upward Trending a Concern
If you were to go on any type of a journey you would want to know what lies ahead so that you can be properly prepared. This is a good way to view retirement planning. When you are looking ahead toward your golden years and the twilight years that will follow you would do well to adopt a realistic and pragmatic attitude. There are some eventualities that should be addressed that are not entirely pleasant, but ignoring them could make a challenging situation all the worse. People who start to … [Read more...] about Researchers Probe Caregiver Agencies’ Screening Processes
Medicaid is a joint Federal/state program that is technically earmarked to provide access to medical care to people of all ages who have financial need. It will pay for an extended stay in a long-term care facility unlike Medicare. So, many senior citizens attempt to qualify for Medicaid as a way to pay for a stay in an assisted living community or a nursing home. In fact, the majority of people who are receiving long-term care rely on Medicaid to pay for it. This raises a question: How can … [Read more...] about What Is a Medicaid “Spend-Down”
If you have to pay for long-term care out-of-pocket when you are a senior citizen it can have a serious impact on your legacy. The annual statistics that are provided by the MetLife Mature Market Institute are indicating a steady rise in long-term care costs of approximately 4% to 5% per year, but as things stand right now the costs are extraordinary. It is not uncommon for senior citizens to incur long-term care expenses in the hundreds of thousands of dollars. Medicare does not pay for … [Read more...] about Is Medicaid Eligibility Possible?