Medicare Advantage (Medicare Part C Coverage) Plans
If you have Medicare Parts A and B, you can join a Medicare Advantage plan. Under Medicare Advantage beneficiaries may cho...
Read moreThe nursing home or the New Jersey Medicaid agency should be able to advise, but here’s how it should work. It depends on whether or not you are receiving your husband’s income. A nursing home resident on Medicaid must pay the bulk of his income (less a small monthly income allowance) to the nursing home. There are two common deductions. First, if the nursing home resident is paying medical insurance premiums then the cost of those premiums can be deducted from the payment obligation to the facility. For instance, if your husband’s income is $2,300 a month, without any deductions, he must pay the full amount (less the small monthly income allowance) to the nursing home. But if he’s paying $300 a month in health insurance premiums then he only has to pay $2,000 a month to the facility. The result is the same – either way he’s paying out his full income. If he drops the insurance, then he has to pay more to the nursing home.
The second possible deduction from your husband’s income could be a spousal allowance for you if your income is low. For instance, you may be entitled to $1,000 of your husband’s income to get your own income up to a minimum guaranteed by the Medicaid rules.
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But here’s where things can get really complicated. It’s possible that your own income is so low, or your own care needs are so high, that you’re entitled to all of your husband’s income and nothing has to be paid to the nursing home. If that’s the case, you’re almost certainly better off dropping your husband’s Medicare Advantage plan because you’re, in effect, paying for it out of your own pocket.
Your second question has to do with whether the coverage is the same. It should be, but this can get complicated with respect to Medicare Part D coverage. The nursing home should be able to advise you on this -- it should not be an unusual question for them.
If you have Medicare Parts A and B, you can join a Medicare Advantage plan. Under Medicare Advantage beneficiaries may cho...
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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.
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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.
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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.
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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.
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