How Will the New Tax Law Affect You?
While most of the new tax law – the Tax Cuts and Jobs Act – has to do with reducing the corporate tax rate from 35 percent to 21 percent, some provisions relate to individual taxpayers. Before we get into the…
New Yorker Article Highlights Abuses in the Guardianship System
Serious problems with the public guardianship system in the United States can lead to elder abuse, according to an in-depth article in The New Yorker titled “How the Elderly Lose their Rights.” Court-appointed guardians can take control of an elderly person’s finances and…
Nursing Home Costs Rise Sharply in 2017
The median cost of a private nursing home room in the United States has increased to $97,455 a year, up 5.5 percent from 2016, according to Genworth’s 2017 Cost of Care survey, which the insurer conducts annually. Genworth reports that the…
How to Reverse Medicare Surcharges When Your Income Changes
What happens if you are a high-income Medicare beneficiary who is paying a surcharge on your premiums and then your income changes? If your circumstances change, you can reverse those surcharges. Higher-income Medicare beneficiaries (individuals who earn more than $85,000)…
Now Is the Time to Review Your Medicare Options
Are you happy with your current Medicare plan or plans? Now is the time to think about whether you are in the right plan or whether a new plan could save you money. Medicare’s Open Enrollment Period, in which you…
New Medicare Cards Coming Soon!
You asked, and Medicare listened. Medicare will distribute new cards between April 2018 and April 2019. For security purposes, your Social Security number will no longer be included on the cards. Instead, a new Medicare Number will be displayed on…
HUD Makes Reverse Mortgages a Little Less Attractive
The Department of Housing and Urban Development (HUD) has announced changes to the federal reverse mortgage program. Citing the need to put the program on better financial footing, HUD will raise reverse mortgage fees for some borrowers and lower the amount…
Using a Prepaid Funeral Contract to Spend Down Assets for Medicaid
No one wants to think about his or her death, but a little preparation in the form of a prepaid funeral contract can be useful. In addition to helping your family after your death, a prepaid funeral contract can be…
Don’t Let Health Care Providers Use the Improvement Standard to Deny Medicare Coverage
Have you or a loved one been denied Medicare-covered services because you’re “not improving”? Many health care providers are still not aware that Medicare is required to cover skilled nursing and home care even if a patient is not…
Long-Term Care Scorecard Finds States Have Room for Improvement
A new report finds that states have made incremental improvements in providing long-term care, but need to make more improvements in order to meet the needs of the growing number of people who require long-term care services. According to the 2017 Long-Term…