» Long Term Care Planning

Medicare Skilled Care Coverage Standard To Change

In a major change in Medicare policy, the Obama administration has provisionally agreed to end Medicare’s longstanding practice of requiring that beneficiaries with chronic conditions and disabilities show a likelihood of improvement in order to re… Read More
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Reverse Mortgages Are Causing Some to Lose Their Homes

A reverse mortgage can be a great tool in the right circumstances, but if you aren’t careful you could end up losing your home. A recent front-page article in the New York Times lays out some of the problems homeowners are encountering with these m… Read More
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Social Security Benefits to Edge Up Only 1.7 Percent

The nation’s elderly and disabled Social Security recipients will receive a 1.7 percent increase in payments in 2013. This is expected to raise the average monthly payment for the typical retired worker by $21. The increase is less than half of las… Read More
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Claiming a Parent As a Dependent

If you are caring for your mother or father, you may be able to claim your parent as a dependent on your income taxes. This would allow you to get an exemption ($3700 in 2011) for him or her. If you cannot claim your parent as a dependent but you hav… Read More
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Five Ways To Prevent Medication Mistakes

If 1.5 million serious medication mistakes happen every year, and 100,000 people die from them, how do you make sure you and your loved ones aren’t among the casualties? Take these five steps to make sure medication mistakes don’t happen to you.… Read More
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House Votes to Repeal Long-Term Care (CLASS Act) Program

On February 1, 2012, the U.S. House repealed a long-term care insurance program created by the 2010 health-care law that the Obama administration decided was too costly to put in place. The 267-159 vote sends the bill to the Senate, where Democrats d… Read More
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Latest Long Term Care Cost Figures

The cost of long-term care continues its upward climb, according to the 2011 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs. Private room nursing home rates rose 4.4 percent to $87,235 a year or $239 a… Read More
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Tax Court Clarifies When Long-Term Care Expenses Are Deductible

Long-term care can be very expensive, but many long-term care expenses can be deducted from your taxes. Two important recent decisions by the U.S. Tax Court provide guidance on when care giving services are deductible. In one decision, the court rule… Read More
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Michigan Implements Estate Recovery Program

Michigan recently began its long anticipated “Estate Recovery” program. The program enables the state to seek recovery of the cost of the medical care expenses paid to a person older than 55 years of age, via the state’s Medicaid assistance pro… Read More
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Hiring a Caregiver: Do It Yourself or Go Through an Agency?

Most seniors prefer to stay at home as long as possible rather than move into a nursing home. For many families, this means eventually hiring a caregiver to look after an aging relative. There are two main ways to hire someone: directly or through a… Read More
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