The Hidden Dangers of Joint Accounts Many people believe that joint ownership of bank accounts and real estate are an effective way to avoid probate and transfer money to loved ones. But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Adding a loved one to Read More
What Is a Special Needs Trust?
What is a Special Needs Trust? A “special needs trust” is a specific type of trust that is established for a person with special needs to supplement the benefits the person with special needs may receive from government programs such a SSI and Medicaid. A properly drafted special needs trust will allow the beneficiary to Read More
Help for People with Disabilities
Help for People with Disabilities Federal legislation adopted in 2015 allows people with disabilities who became disabled before they turned 26 to set aside up to $14,000 a year in tax-free savings accounts without affecting their eligibility for government benefits. Generally a disabled person cannot have assets worth more than $2,000 without forfeiting eligibility for Read More
Court of Appeals Requires Accident Proceeds To Be Paid To Special Needs Trust
Court of Appeals Requires Accident Settlement Funds To Be Paid To Special Needs Trust The Indiana Court of Appeals has ruled unanimously that a trial judge was wrong in refusing to fund a severely injured adult’s special needs trust with $6.75 million in funds from settlement of a suit involving an traffic accident that had Read More
Medicare Coverage for Skilled Care
Medicare Coverage for Skilled Care By Rebecca C. Morgan — CMS has issued updates to its manual to implement the Jimmo agreement for SNFs, IRFs, home health and outpatient coverages. Transmittal 175 to Publication 100-02 Medicare Benefit Policy (issued December 6, 2013) goes into effect January 7, 2014. Here is an overview of the changes: Read More
Medicaid and People with Dementia
Medicaid and People with Dementia The Kaiser Family Foundation’s Commission on Medicaid and the Uninsured released an issue brief on Medicaid’s Role for People with Dementia. Consider this: Almost one-half (46%) of nursing facility residents and about one in five (21%) seniors living in the community has probable or possible dementia, a syndrome characterized by Read More
New HHS Website for Elders
New HHS Website for Elders More than 10,000 people turn 65 every day in the United States, and people are living longer, healthier lives. Healthy lifestyles, planning for retirement, and knowing your options for health care and long-term care are more important than ever before. As part of the 2015 White House Conference on Aging, Read More
Observation Stays in the Hospital: The Impact on Medicare Beneficiaries
Observation Stays in the Hospital: The Impact on Medicare Beneficiaries In December 2013, Ms. M., 99, was found on the floor in her assisted-living apartment. She was sent to the hospital and treated for a broken shoulder. She stayed at the hospital for three nights, but instead of being deemed an “inpatient,” she was considered Read More
What is the Medicaid “Look Back Period”?
What is the Medicaid “Look Back Period”? Answer: The Medicaid Look Back Period is the 5-year period prior to filing a Medicaid application during which all transfers without fair consideration are totaled to assess a period of ineligibility for Medicaid Long Term Care benefits. It is a common misconception that if any gift transfer is Read More