January 2023
Will Medicare Pay for Housekeeping Services?
Medicare is federal health insurance for people over 65, some younger people with disabilities, and those with end-stage renal disease. Coverage of housekeeping services under Medicare can depend on several factors. Is There Coverage for [...]
IRS Raising Annual Gift Tax and Estate Tax Exclusions in 2023
Although inflation is generally nothing to be pleased about, the IRS recently announced inflation-adjusted changes to the annual gift tax and estate tax exclusions for 2023. If you are considering wealth transfer tax planning, these [...]
Medicare Will Now Cover Medically Necessary Dental Care
In November 2022, the Centers for Medicare and Medicaid Services (CMS) announced that Medicare coverage will be expanded to include medically necessary dental services. This change in Medicare rules will allow people with life-threatening conditions [...]
Step-Up in Basis and Why It Matters in Estate Planning
If you are considering engaging in estate planning or you may be inheriting assets, it is important to understand what the step-up in basis is and how it may affect you. What Is the Step-Up [...]
Start 2023 Prepared: Reassess What Matters Most
If we have learned anything these past few years, it’s that life is fleeting. Amid such uncertain times, many of us have realized what – and who – truly means the most to us. Estate [...]
Protecting Spouses of Medicaid Applicants: 2023 Guidelines
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? [...]
5 Smart Estate Planning Strategies for High-Net-Worth Families
If you are a high-net-worth individual, it’s essential to have a comprehensive estate plan in place. However, every family’s circumstances are unique, and there is no one-size-fits-all solution for estate planning. Below are five estate [...]
Pros and Cons of a Medicaid Asset Protection Trust
A Medicaid Asset Protection Trust (MAPT) is one option a person may consider to protect their assets from Medicaid and nursing homes or long-term care. A MAPT is an irrevocable trust created during your lifetime. [...]
Getting Medicare Food Benefits
As people age, accessing healthy meals can become more challenging. According to Feeding America, one in five older adults was food-insecure in 2020. Some older adults struggle with affording healthy foods, whereas others have difficulty going [...]
New Rule Aids Seniors Who Are First-Time Medicare Enrollees
A new rule going into effect January 1, 2023, is setting seniors up with improved access to health care coverage. Your Medicare Initial Enrollment Period (IEP) begins as you approach your 65th birthday. For the [...]
Can You Appeal When a Hospital Considers You an Outpatient?
A hospital’s classification of you as inpatient or outpatient can significantly affect Medicare’s coverage, shaping how much you pay for services and whether your coverage includes care in a skilled nursing facility. Medicare Part A pays for [...]
Will You Lose Your Medicaid Coverage When the Pandemic Ends?
When the COVID-19 pandemic began, the government declared a public health emergency and gave the states the ability to provide more citizens with health insurance through Medicaid. As a result, 25 percent more Americans now have [...]
What Is a Medicare Summary Notice?
Every three months, those with original Medicare receive a claims statement called a Medicare Summary Notice. As Medicare.gov explains, this notification describes all the services or supplies that providers or suppliers attributed to Medicare during the preceding [...]
Older Adults Lack Information in Search for Long-Term Care
According to a recent national study, nearly a quarter of Americans aged 50 and older say they – or a loved one – needed long-term care in 2022. The findings further suggest that seniors and their caregivers [...]
Jan. 1-March 31: Medicare Advantage Open Enrollment Period
If you are enrolled in a Medicare Advantage plan but would like to make a change, you can likely take advantage of the Medicare Advantage Open Enrollment Period. This Open Enrollment Period occurs each year between [...]
What to Do If Medicare Denies Coverage for Prescription Drug
Receiving a denial at the pharmacy for a drug you need can be a stressful experience. When Medicare declines to cover a prescription, some might worry that they cannot afford the medicine out of pocket. [...]
Now You Can See More Data Before Choosing a Nursing Home
For families seeking nursing home care for a loved one, getting information on what a nursing home is truly like or who owns it is easier said than done. Many rely on word of mouth, [...]
Ending Guardianship of an Adult
While a guardian can support the protected person by making important decisions, in some cases, an individual may wish to change or dissolve the arrangement. The ward, their family, or other involved people might feel [...]
When Should You Start Helping With Your Parents’ Finances?
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 [...]