The Biden administration is moving forward with a Trump-era pilot program that would hand over the care of millions of Medicare beneficiaries to private, mostly for-profit, groups.
Almost all state Medicaid programs will cover some assisted living costs, although there may be a waiting list.
Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned.
When the SSA closed its offices at the onset of the COVID-19 pandemic, it failed to provide practical ways for the elderly and people with disabilities to demonstrate their eligibility or challenge its decisions, according to a class-action lawsuit.
When applying for Medicaid’s long-term care coverage, in addition to the strict income and asset limits, you must demonstrate that you need a level care typically provided in a nursing home.
Medicare premiums are rising sharply next year, cutting into the large Social Security cost-of-living increase. The basic monthly premium will jump 15.5 percent, or $21.60, from $148.50 to $170.10 a month.
The Internal Revenue Service (IRS) has announced the amounts taxpayers of different ages can deduct from their 2022 income as a result of buying long-term care insurance, and the figures are almost the same as in 2021.
Rising inflation due to the ongoing coronavirus pandemic means that in 2022, Social Security benefits will go up 5.9 percent, the sharpest upsurge since 1983.
While it is preferable to conduct long-term care planning well in advance of needing care, if you haven’t planned ahead, there are some strategies available to avoid spending all your assets.
Many families will eventually have to hire a caregiver to look after an aging relative. There are two main ways to hire someone: directly or through a home health agency.
