How Much Can You Give Away and Still Qualify for Medicaid?
In order to be eligible for Medicaid, you cannot have transferred assets recently. Congress does not want you to move into a...
Read moreIf the years since the COVID-19 pandemic have taught us anything about isolation, it is loneliness makes life much harder.
A recent study found that loneliness can not only decrease a person’s quality of life, but in fact accelerate aging – even more so than smoking. Meanwhile, a separate study showed that levels of loneliness increased disproportionately among seniors 75 and older amid the pandemic’s social distancing measures.
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Seniors deserve a life full of joy, so preventing loneliness from negatively impacting their lives is essential. Keep reading to learn more about how seniors can prevent loneliness as they age.
When people experience long-term isolation, their mental health suffers and their bodies show physical effects.
A person has two ages — chronological age and biological age, experts suggest. Chronological age is the total number of years that someone has been alive. Biological age is the age that someone seems. Sadness, loneliness, and depression, the researchers say, can add 1.65 years to a person’s biological age.
According to the Cleveland Clinic, a nonprofit academic medical center, loneliness can have the following physical and mental consequences:
The effects of loneliness can seem scary. Coping with loneliness can also seem hopeless. Fortunately, there are some small changes that seniors can make in their daily lives to handle loneliness.
Keep In Touch — It is important to keep in touch with family and friends. Today’s technology makes keeping in touch with loved ones easier than ever. It is worthwhile to learn how to FaceTime, video chat Skype, schedule meetings on Zoom, text, or voice chat. These are some ways to help you keep the lines of communication open between you and the people you love.
Create a New Community — Making new friends can also decrease loneliness. Having a group of friends around you to share your life with and who understand what you are going through can increase your overall happiness. Putting yourself out there and finding a sense of community can be good for your health.
Carry Out Random Acts of Kindness — Giving back to your community and those around you can also decrease feelings of loneliness. Volunteering can take your focus off negative feelings, and it can also replace any feelings of isolation with a sense of accomplishment. It can also be a good way to meet new people and help you find a new community as you age.
Plan Ahead — Planning for upcoming activities, get-togethers, or events can keep your spirits up by giving you something to look forward to every day. You are less likely to feel lonely if you keep your social calendar full and Keep your mind occupied.
Loneliness is a part of life. We all go through periods when we feel lonely, but that feeling does not need to last forever. You can take power over your life and over loneliness as you age.
In order to be eligible for Medicaid, you cannot have transferred assets recently. Congress does not want you to move into a...
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Read moreIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MOREIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MORELearn who qualifies for Medicare, what the program covers, all about Medicare Advantage, and how to supplement Medicare’s coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MORE