To qualify for Medicaid, you must have limited income and assets (in most states, no more than $2,000 in your name). If you have more than that, you may find yourself having to “spend down” your extra assets to meet the $2,000 limit.
In 2023, recipients of Social Security benefits saw the biggest increase in decades in their monthly checks. Although their payouts will indeed rise again in 2024, the cost-of-living adjustment (COLA) will be considerably more modest.
Unfortunately, neither health insurance nor Medicare covers long-term care. Medicaid could become your only option, so do what you can to plan ahead.
People with special needs may qualify for a variety of government benefits, including Medicaid and Medicare. What’s the difference?
Although Medicare funds some home health care services, a recent study has found that Medicare beneficiaries are underutilizing the program’s home health care options.
People with low incomes are eligible for Medicaid health insurance. However, because of the steep costs associated with long-term care, Medicaid planning is a growing trend for individuals with higher net worth as an alternative to spending down assets to…
It is possible to make mistakes when it comes to inheritances and Medicaid. It can be very costly to make those mistakes. When a person is drawing Medicaid benefits and inherits money or property, that inheritance jeopardizes the benefits. The…
Almost seventy percent of retirees in the United States will need some kind of long-term care (LTC), according to figures released by the US Department of Health and Human Services (HHS). According to research by Genworth, the median annual cost…