Seniors and their families should get help from a Hartford elder law attorney to take steps to protect their assets. Seniors are vulnerable to loss from many sources, from the risk of financial elder abuse to the threat of assets being lost when they pass to new owners after death to the possibility that a [ ] The post Medicare Cards are Being Remade to Protect Seniors appeared first on Nirenstein, Horowitz & Associates P.C..
The matter of long-term care is one of the most pressing elder law issues of our day. We will look at long-term care expenses in this post, and we will also examine the limitations of the Medicare program. Medicare Many people are confident about their ability to handle medical expenses in the future because they will qualify for Medicare coverage. Medicare is a government health insurance program, and you pay into it when you are paying FICA taxes throughout your working career. You get four retirement credits for every $1200 that you earn in 2014. It is possible to accumulate as many as four retirement credits in a year. This is the maximum annual accrual, regardless of how much you earn. Once you have 40 credits, you will qualify for Medicare when you reach the age of 65. This program will be of great assistance, but it does not cover everything. There are out-of-pocket expenses to contend with for covered services, and there is one enormous hole in the coverage. Medicare does not
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