The Minimum Monthly Maintenance Needs Allowance (MMMNA) is a spousal impoverishment rule affecting one’s eligibility for Medicaid benefits. It allows a married Medicaid nursing home applicant or HCBS Medicaid Waiver applicant to transfer a portion, or in some...
If you need a lot of cash on hand upon retirement, Social Security offers a lump-sum payment option that’s worth six months of benefits. However, it comes at a cost. It is important to understand the details before agreeing to the payment. If you have waited beyond...
It depends on the state rules around retroactive benefits. Some states allow Medicaid recipients to receive retroactive benefits for up to three months before the date of the application. Other states have limited retroactive benefits. To find out the rules in your...
The Social Security Administration (SSA) advises you to apply for retirement benefits three months before you want your benefits to begin. And even if you have no plans to receive retirement benefits, you should still sign-up for Medicare three months before age 65. ...
Although people are willing to voluntarily care for a parent or loved one without any promise of compensation, entering into a caregiver contract (also called personal service or personal care agreement) with a family member can have many benefits. It rewards the...
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