If you are one of the 65 million people receiving Medicare, you may change your coverage during the annual open enrollment period. From October 15, 2023, to December 7, 2023, you can update your 2024 health and prescription drug plans. Changes you make take effect on...
To secure the maximum amount in monthly Social Security retirement benefits, Americans must wait until full retirement age to start receiving their payouts. Results from a 2023 survey show that most of today’s workers know about this stipulation – and yet the vast...
Although death benefits are available to veterans, as well as their families and veterans who did not engage in combat, less than half of those who are eligible for death benefits use them, according to the American Association of Retired People. Available veterans...
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 more modest – just 3.2 percent, versus the nearly 9 percent...
As married couples progress through their retirement years, it is vital to become acquainted with the basics of Medicaid in the context of long-term care. Specifically, all married couples should have a working knowledge of the Medicaid laws preventing spousal...
Housing options and the associated costs are among the top priorities for many seniors. Today, the housing market is unpredictable, while many seniors currently living independently may also have concerns about continuing their lifestyles. Moving to an independent...
Nursing home residents on Medicaid generally must pay all their income, minus certain deductions, to the nursing home. These deductions include the following: a monthly personal needs allowance (this amount varies by state, currently ranging anywhere from $30 to more...
In order to be eligible for Medicaid benefits a nursing home resident may have no more than $2,000 in “countable” assets (the figure may be somewhat higher in some states). Note that Medicaid is a state-run program, so the rules are somewhat different in...
Medicaid (called “KanCare” in Kansas, “MO HealthNet” in Missouri, “Medi-Cal” in California, “MassHealth” in Massachusetts, and “TennCare” in Tennessee….to name a few) is a joint federal-state program...
Congress established the Medicaid Money Follows the Person (MFP) Program to provide states with federal funding to help seniors who are receiving care in institutions but want to live at home. However, it is not a permanent program and is due to expire in September...
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