Posts Tagged ‘Medicare’

Article 113-Estate Planning Series: Is Long Term Care Insurance the Best Answer For Me?

Written by Wright Law on . Posted in Estate Planning, Long Term Care

So what is the answer to long term care needs?   Seventy percent (70%) of seniors will need some form of long term care.  Yet Medicare, the Affordable Care Act and your health insurance policy will not help pay for those costs, which can reach or even exceed ten thousand dollars a month.

Unfortunately, many assume their only option is to purchase long term care (LTC) insurance.  LTC insurance is a type of policy that will pay benefits when the insured is unable to perform certain activities of daily living (ADLs) such as eating, bathing, dressing, toileting, and transferring. 

Article 109-Estate Planning Series: The Cost of Medicaid for Long Term Care

Written by Wright Law on . Posted in Long Term Care

Although Medicare is not intended to provide assistance to seniors in need of long term care, under certain circumstances, Medicaid will provide that assistance.    I believe Medicaid is a critically important safety net to assist our most vulnerable senior citizens in need.  Therefore, it may seem ironic that the purpose of this column is to encourage you to avoid relying on Medicaid if possible.

Article 108-Estate Planning Series: Will Medicare Pay for My Long Term Care?

Written by Wright Law on . Posted in Long Term Care

Last column I explained the options to pay for long term care are limited.  Adding to the problem is a significant amount of incorrect information about what those options are.  For example, many seniors erroneously believe Medicare will pay long term care costs.  This is not correct.

On the other hand, upon meeting certain conditions, Medicaid will pay for long term care.   I understand why people confuse the two.  Not only do the terms sounds similar but, in some cases, Medicare provides assistance for some of the same types of health issues as Medicaid. 

Article 29-Estate Planning Series: Qualifying for Medicaid Assistance – Part 4 – Income limits

Written by Wright Law on . Posted in Estate Planning, Long Term Care

In recent columns, I have been addressing how a senior must qualify before Medicaid will assist with the cost of long term care.  One requirement is to establish financial necessity, which requires a review of the Medicaid applicant’s assets and monthly income.  This column will address the income requirement to qualify for Medicaid. 

Article 26-Estate Planning Series: Qualifying for Medicaid Assistance – Part 1 – Medical Necessity

Written by Wright Law on . Posted in Estate Planning, Long Term Care

In recent weeks, I have addressed the difference between Medicare and Medicaid as it relates to seniors receiving long term care.  In the last article, I also discussed how Medicaid may be your most expensive option to pay for long term care.  Nevertheless, Medicaid is an important resource for those without options. 

To receive Medicaid assistance for long term care, seniors must meet certain conditions.  Those conditions address both the applicant’s health and financial condition.  This column addresses how an applicant’s health is assessed.

Article 24-Estate Planning Series: Long Term Care – The Role of Medicare vs. Medicaid

Written by Wright Law on . Posted in Estate Planning, Long Term Care

In my last column, I explained the options to pay for long term care are very limited.  Adding to the problem is a significant amount of incorrect information about what those options are.  For example, many seniors erroneously believe Medicare will pay long term care costs.  This is not correct.

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