Category: Medicaid

You are going to retire when?

Just how wealthy are you? You'll want to figure that out before you make any major life decisions. Your first impulse may be to go out and buy things, but that may not be in your best interest. Even if you're used to handling your own finances, now's the...
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Challenges for Social Security and Medicare

New Reports Highlight Continuing Challenges for Social Security and Medicare Most Americans will receive Social Security and Medicare benefits at some point in their lives. For this reason, workers and retirees are concerned about potential program shortfalls that could affect future benefits. Each year, the Trustees of the Social...
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Understanding Trusts

Understanding Trusts In recent years the public has been bombarded with a barrage of advertisements, brochures, and articles about trusts of all kinds, especially so-called living trusts. Some of the information offered for public consumption is misleading and some of it is simply false.   This brochure is offered...
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Getting Help from a Financial Professional

Are you suddenly on your own or forced to assume greater responsibility for your financial future? Unsure about whether you’re on the right track with your savings and investments? Finding yourself with new responsibilities, such as the care of a child or an aging parent? Facing other life events,...
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Medicaid Planning Basics

The best time to plan for the possibility of nursing home care is when you’re still healthy. By doing so, you may be able to pay for your long-term care and preserve assets for your loved ones. How? Through Medicaid planning. Medicaid is a joint federal-state program that provides...
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Medicaid Planning Goals and Strategies

Aging is inevitable, and a gradual (or not so gradual) inability to function independently is a great concern for many people. While the prospect of entering a nursing home is a daunting one, equally frightening is the expense of nursing home care. Although purchasing long-term care insurance might be...
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Medicaid and Long-Term Care Insurance

Long-term care insurance (LTCI) pays a certain dollar amount per day, for a set period, for skilled, intermediate, or custodial care in nursing homes and, sometimes, in alternative care settings, such as home health care. Because Medicare and other forms of health insurance do not pay for custodial care,...
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Coordination of Long-Term Care with Government Benefits

In the context of long-term nursing home care, a number of governmental (and governmentally regulated) programs and tools exist to help you pay for this care. Medicare, Medicaid, Medigap, and long-term care insurance (LTCI) (combined with Medicare) can each assist you to pay for your long-term nursing-home care, assuming...
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Medicaid Liens and Estate Recoveries

Federal law encourages states to seek reimbursement from Medicaid recipients for Medicaid payments made on their behalf. There are two types of cost-recovery actions against the assets of Medicaid recipients: (1) real or personal property liens, and (2) recovery from decedent’s estate. A Medicaid lien is a form of...
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