Tag Archives: program

Social Security: When, How Much & Why

The Social Security program will probably be a very important source of income for you when you attain senior citizen status. In this blog post, we will provide you with some very useful information about the program. Eligibility Age First, we will look at the age of eligibility for Social Security coverage. In many cases, the government can make things more complicated than they probably should be, and this enters the picture when it comes to the eligibility age. There is no one age of eligibility that applies to everyone. The eligibility date depends upon your year of birth. If you were born between 1943 and 1954, your age of eligibility for your full Social Security benefit is 66. After 1954, the eligibility age goes up by two months each year. To explain by way of example, if you were born in 1955, you would become eligible for your full Social Security benefit two months after your 66th birthday. Someone who was born in 1956 would become eligible at the age of 66 years and four m


Are There Exceptions to the Five-Year Medicaid Look-Back?

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