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Friday, September 4, 2020

Medicaid's Power to Recoup Benefits Paid: Estate Recovery


We have had a lot of Medicaid clients who ask questions regarding why and how Medicaid recovers what they have paid out on behalf of the Medicaid recipient.  Today’s blog provided by Elder Law Answers provides some answers to some of the most frequently asked questions.

Federal law requires the State to attempt to recover certain benefits paid out on behalf of certain Medicaid recipients.

In Indiana, for Medicaid recipients age 55 or older, the State must seek recovery of payments from the individual's estate for nursing facility services, home and community-based services, and related hospital and prescription drug services. States also have the option of recovering all Medicaid benefits from individuals over age 55, including costs for any medical care, not just long-term care benefits.
Read more . . .


Monday, August 31, 2020

Keeping Up Physically with Your Young-At-Heart To-Do List – A Three-Part Series: Back Stretches


This Article is provided by Senior Directory at https://seniordirectory.com/articles/info/three-back-pain-relief-exercises-for-seniors

 

Dr. Michael Kaspin is a physical therapist at the Colorado Health Clinic.
Read more . . .


Thursday, August 20, 2020

Not Too Late to Redeposit Your 2020 RMDs


The CARES Act allows for the waiver of mandated 2020 Required Minimum Distributions (RMDs) from most retirement accounts, including IRAs, 401(k)s and 403(b) plans.  Additionally, the waiver applies to individuals who own inherited retirement accounts subject to RMDs.

Many individuals jumped at the opportunity to waive their RMDs for 2020 thus avoiding additional taxable income for the year and allowing the funds to continue to grow in the retirement account.   However, what about those individuals who already took the RMDs at the beginning of the year before the passage of the CARES Act or before they knew they could waive the RMDs for 2020?  On June 23, 2020, The IRS announced that anyone who already took a required minimum distribution in 2020 from certain retirement accounts has the ability to roll those funds back into a retirement account by August 31, 2020.   In addition the IRS’ notice also provides that the repayment of the 2020 RMDs is not subject to the one rollover per 12-month period limitation and the restriction on rollovers for inherited IRAs.
Read more . . .


Thursday, August 13, 2020

Which Nursing Home Rating System Should You Trust?

Choosing a nursing home for a loved one is a difficult decision and it can only be made more confusing by the various rating systems. A recent study found that using both Medicare’s Nursing Home Compare site and user reviews can help with the decision making. 

The official Medicare website includes a nursing home rating system. Nursing Home Compare offers up to five-star ratings of nursing homes based on health inspections, staffing, and quality measures. However, Medicare’s rating system is far from perfect. The staff level and quality statistics ratings are based largely on self-reported data that the government does not verify. The ratings also do not take into account state fines and enforcement data or consumer complaints to state agencies.  Nursing homes have learned how to game the system to improve their ratings. 


Read more . . .


Wednesday, August 5, 2020

8 Tips for Having 'The Talk' with Elderly Parents


Unless you’re certain your parents have an up-to-date will and a wider plan for what should happen in the event of their passing, you shouldn’t assume everything will be taken care of.

According to Read more . . .


Wednesday, July 8, 2020

July Temperatures and Heat Awareness


Due to the heat, July can be a particularly difficult time for the elderly, particularly those with chronic illnesses and/or those who take certain medications. The biggest dangers are heat exhaustion and heat stroke.

Here are some things to consider:

• Drink lots of cool water even when you’re not thirsty. You can dilute water with a 50/50 mix of natural fruit juices if you desire a change. Avoid alcoholic beverages, soft drinks, sports and energy ¬drinks, coffee, cola, and caffeinated drinks.


Read more . . .


Thursday, June 25, 2020

The Importance of Beneficiary Designations Matching Your Estate Plan


In a typical year, Severns & Howard usually sees during the summer months an increase in interest to establish or update their estate planning documents.  This could be due to the nice weather and the beginning of summer travels, timing of retirement, a health event that occurred for them or a loved one over the winter, or just finishing those spring to-do lists.  While this year has seen some changes in the above causes, we are still seeing an increase in interest to make sure that their estate plan is following their current final wishes. 

One service that Severns & Howard provides to our estate planning clients is to ensure that all assets follow the estate plan you set out in your documents.  Many types of property and investments pass outside of Read more . . .


Wednesday, June 10, 2020

Free Brain Games for Senior Citizens


Article by Senior Directory written by Rhianna DeVries

We’re all working hard to take care of ourselves and to stay happy and healthy while we’re staying home during the pandemic. But while we’re stretching out our legs on morning walks and eating nutritious meals, it’s important to remember to exercise one of our most vital organs: our brain. We all know that an apple a day keeps the doctor away, but what can we do to nourish our minds? These brain games for seniors will keep you alert and your brain on its toes—all while being entertaining.

Mahjong to try something new

There are hundreds of free brain games available online, from strategy and numbers to puzzles and words, there’s something to fit everyone’s tastes and moods. But if you’d like to try something a little different, you might like Mahjong.
Read more . . .


Friday, June 5, 2020

Four Ways the Coronavirus Pandemic May Affect Long-Term Care Insurance


The coronavirus pandemic has had a devastating impact on the elderly, particularly those in nursing homes and other long-term care facilities. This has raised questions about how the virus has influenced the costs and provision of long-term care insurance, which covers care in facilities and sometimes at home as well. 

If you have a long-term care insurance policy, you may wonder how it is affected by the pandemic. If you don’t have a policy, you may wonder if the pandemic will make it more difficult to get one. An article by Read more . . .


Wednesday, May 27, 2020

Pandemic Relief: Retirement Account Owners Do Not Have to Take Required Distributions in 2020


Retirement account owners, many of whose retirement balances have been pummeled by a stock market drop due to the coronavirus pandemic, do not have to take mandatory withdrawals this year. 

Federal law requires individuals who were age 70 1/2 before the end of 2019 to begin taking required minimum distributions (RMDs) from their retirement plan in April of the year after they turned 70. (Note that those who were younger than 70 ½ at the end of 2019 can wait until they turn 72 to take RMDs) The amount of the distribution is based on the value of the account at the end of the previous year, but the funds you withdraw are treated as taxable income in the year you take the distribution.
Read more . . .


Tuesday, May 19, 2020

May is Mental Health Month


May is Mental Health Month, and right now it’s more important than ever that you keep tabs on the mental health of yourself and the people you love.  I know that many of our clients, and many of our own loved ones, are struggling with the isolation, disruption, and anxiety caused by the COVID -19 pandemic. 

I know that I have had to be diligent in using my coping skills to help keep my own mental health on track.  I’ve also been keeping an eye on my kids, who are tired of being cooped up and deprived of their social lives, and on my mom, who is diligently practicing social distancing while continuing to mourn the death of my father, who died in January.  It’s been a tough year so far for my family, and I imagine that you can tell me a similar story.
Read more . . .


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