Assisted living facilities and nursing homes are long-term housing and care options for older adults. Although people sometimes use the terms assisted living and nursing home synonymously, they are distinct. Understanding the differences between assisted living and...
The Centers for Medicare & Medicaid Services (CMS) has released the 2023 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures. What Are Spousal Impoverishment Rules? Spousal...
It has been a tumultuous few years. Amid a continuing pandemic, tense midterm elections, and a war in Ukraine, we have grappled with more than our fair share of grim news. However, with the new year upon us, there are some silver linings — in particular for seniors....
For most people, the phrase “power of attorney” means very little. Even for those educated on the subject, it is easy to forget exactly who serves what role and why. Whether you are unfamiliar with the concept or simply need a refresher, keep reading to learn what it...
It is tough to know when you should step in and help your parents with their finances. You may go back and forth about when to take over. Deciding whether your parents still have the cognitive ability to manage their money is a difficult call to make. A recent report...
The number of people enrolling in Medicare Advantage programs offered through Medicare-approved private companies has increased over time. Based on this trend, more than half of all Medicare recipients may be enrolled in Medicare Advantage programs by 2025. As...
Alzheimer’s disease, can feel overwhelming and upsetting. You might worry that you will lose control over your life and ability to make your own decisions. Fortunately, receiving a diagnosis of dementia or Alzheimer’s does not mean that you cannot execute legal...
We all plan for “just-in-case” scenarios. When packing for our week-long vacation, we throw in a rain jacket even though the weather forecast is sunny—just in case. When planning for the future, it is also important to consider what will happen just in case one of...
Estate planning is about protecting you and your loved ones. Sometimes this can be a difficult endeavor when there is a loved one who may require additional support at your death. While you may want to give as much as possible to this individual, you may not want to...
Do you have a friend or loved one who receives Social Security and is unable to manage payments? If so, you can request that the Social Security Administration (SSA), the government agency that disburses Social Security, name you as the representative payee for...
While Medicaid helps pay for nursing home care, being admitted to a nursing home as a Medicaid recipient is not always easy. There are several ways to navigate the process, depending on your situation. With the median cost of a nursing home room being more than $250...
The question at hand when it comes to most military veterans’ benefits is, “are they permitted to use their Department of Veterans Affairs benefits to help cover the cost of long-term care?” Well, the answer is complicated as with most governmental things. A...
When estate planning for special needs there are quite a few terms you should be aware of, to understand the scope of work involved. Third-party special needs trusts sometimes referred to as supplemental needs trusts are estate planning tools for those parents of...
Long-term care costs are on the rise. Industry-driven, massively underpriced policies are playing fiscal catch up with hefty premium rate increases. This price increase is forcing some aging Americans to abandon their policy while others struggle to reduce their...
You could hear your mother say that, right? And how often have you wished that you’d followed mother’s good advice? Nobody really wants to think in advance about accidents or illness. But if no advance planning has been done, and if an elderly parent has broken a hip,...
A Cup of LoveFebruary 6, 2023
