Many older people and disabled people rely on Connecticut nursing home care if they cannot live independently. Unfortunately, this care can be very costly to provide. Medicaid is a leading payor of nursing home care services, but the New Haven Register recently published an article indicating that health reform bills that are being considered could [ ] The post Health Bill Could Present Challenges to Connecticut Nursing Home Care appeared first on Nirenstein, Horowitz & Associates P.C..
The Medicaid program is a health insurance safety net for people with very limited financial resources. This program is jointly administered by the federal government along with each state government. Medicare is another government program, and it provides health care for senior citizens. If you are qualified for Medicare at the age of 65, you will not need Medicaid at first. Plus, you would not qualify if you have resources. In spite of these facts, Medicaid could become relevant to you at some point in time. This program does pay for long-term care, but Medicare does not pay for long-term living assistance. The majority of elders will someday need help with their activities of daily living, so this is a very pressing elder law issue. To qualify for Medicaid to pay for long-term care, your countable assets cannot exceed state mandated maximum amount. This would logically lead you to the understanding that you could give your assets to your loved ones to qualify for Medicaid if you ev
You address events that will take place after you pass away when you plan your estate. This is rather self-evident, but a holistic estate plan will take things a step further. Preparing for the things that may occur before you pass away is also part of the equation. If you think about it objectively, people do not typically pass away after having been in good health for the period of time leading up to their passing. Clearly, this is not a very pleasant thing to consider, but it is a fact of life nonetheless. Incapacity prior to death is not uncommon, and a well constructed estate plan will address this possibility through the creation of legal documents called advance directives for health care. A living will is one advance directive that everyone should have in place. This type of will is used to record preferences with regard to life-sustaining measures. Things like feeding tubes and mechanical respiration can be used to keep people alive indefinitely under some circumstances, even
If you have always had health insurance throughout your working career, you may go forward with a certain peace of mind. You will be protected financially if you run into health problems, and you would assume that this protection would continue after you obtain Medicare coverage when you reach the age of 65. Medicare will certainly provide a good bit of coverage, but you have to understand the fact that Medicare does not pay for long-term care. People who are concerned about long-term care costs sometimes purchase long-term care insurance. Long-term care insurance is rather expensive, and this is a drawback. The exact cost of the insurance will depend upon your age when you take out the coverage. As you would expect, the premiums are lower if you take out the insurance when you are relatively young. At the same time, you probably will not need long-term care until you reach an advanced age. Medicaid and Long-Term Care Insurance Medicaid is another government health insurance program,
When you are planning for retirement, you should be aware of what you can expect from the Medicare program. Medicare is a government health insurance program that is intended to provide coverage for senior citizens. You gain eligibility for Medicare coverage by accumulating retirement credits while you are working and paying taxes. At the time of this writing in 2014, you get one credit for every $1200 that you earn. The maximum annual accrual is four credits. Once you have accumulated 40 credits, you will qualify for Medicare coverage when you reach the age of 65 under currently existing laws. Medicare will certainly be of great assistance if you qualify, but there are limitations. There are significant out-of-pocket expenses that you should prepare for in advance. There is a deductible for inpatient hospital stays, and there can be co-payments for long stays. You have to pay a monthly premium for Medicare Part B coverage. This is the portion of the program that pays for visits to ph