When I discuss estate planning with clients I try and explain the importance of planning for the cost of long-term care within their estate plan. The cost of long-term care could put your estate assets at risk if you failed to plan for the possibility ahead of time. One option for covering the cost of this kind of care is to purchase Long-Term Care insurance; however, long-term care insurance is not right for everyone. Planning for Long-Term Care Should Be Part of Your Estate … [Read more...] about Getting Things Right with Long-Term Care Insurance.
I addressed the differences between Medicare and Medicaid as well as introducing some basics of Medicaid Planning in my blog post earlier this week. Today, I want to talk about the biggest mistake I see for children making when helping a parent begin the process of qualifying for Medicaid: selling the parent's house as part of a spend down to qualify for Medicaid. This is almost never necessary and is almost always a huge mistake. A house is almost always an uncountable asset, meaning it … [Read more...] about Are You Eligible for Medicaid If You Own a House?
Like many people, you may have been fortunate enough to make it through your entire working years covered by employer-sponsored or privately funded health insurance. Consequently, you had no need to qualify for Medicaid. As a senior, however, there is a good chance that might change, and if you are not prepared, your retirement nest egg could be at risk. To help ensure that you are prepared, the Durham Medicaid Lawyers at Clarity Legal Group® discuss five things you need to know about qualifying … [Read more...] about 5 Things You Need to Know about Qualifying for Medicaid As a Senior
The Medicaid lawyers of Clarity Legal Group®, serving Raleigh, Durham, Cary, Chapel Hill and surrounding areas, help seniors to make certain they can pay for nursing home care. In most cases, nursing home care has to be paid for by Medicaid because Medicare won't cover it. Medicare only pays for skilled nursing care and provides coverage only in very specific situations. That's why Clarity Legal Group® works with seniors to help them become eligible for Medicare coverage and ensure they can … [Read more...] about North Carolina Nursing Homes Could be Kicked Out of the Medicare Program
If you are getting older, it is important that you have a plan for paying for your care should you end up suffering from age related disabilities. Do you have the resources to self pay for home care or skilled nursing care should your family be unable to care for you without help? Should you purchase long term care insurance or is the long term care insurance you already have adequate to meet your needs? What does your long term care insurance cover and might you have needs which are not … [Read more...] about What is Considered a Countable Asset for Medicaid?
Millions of Americans function as family caregivers for loved ones. This is one of the most challenging and difficult phases of anyone's life. At Clarity Legal Group®, we think there is nothing better we can do with our time and experience than serve as support to those caregivers, guiding them through the difficult array of circumstances they may face as a caregiver, all built around the issue of control: control of healthcare decisions, financial accounts, contracts, professional services, … [Read more...] about The Elder Law Attorneys of Clarity Legal Group® are pleased to be presenting at the Triangle Caregivers Conference in Durham today
The Chapel Hill Medicaid attorneys at Clarity Legal Group® can provide you with very important help through a carefully crafted Medicaid plan which will protect your assets while ensuring your eligbility for Medicaid without penalty. Many people do not realize that Medicare does not pay for long term care. Instead, financial support for long term care must come from private insurance, the family's own funds, or Medicaid. If you or your loved one does not have enough money to self pay for an … [Read more...] about Key Things a Chapel Hill Medicaid Attorneys Wants You to Know
Medicaid attorneys at Clarity Legal Group®, serving Raleigh, Cary, Durham , Chapel Hill and surrounding areas, provide help affording the costs of nursing home care. The Genworth Cost of Care Survey details costs of different kinds of residential care you may require. A one-bedroom single occupancy unit in an assisted living facility – which provides very limited services – runs up a median cost of $36,000 annually in North Carolina. For seniors who require more services, a nursing home will be … [Read more...] about How Medicaid Attorneys Help Plan for Nursing Home Care
According to recent news reports, the State of North Carolina may have to repay a staggering $20 million in Medicaid reimbursements because of a retroactive rule change. For those of you who question the amount of money spent on Medicaid to begin with, be careful as there is a very good chance you may eventually need to depend on Medicaid benefits during your Golden Years. In the meantime, the repayment of $20 million is something that will impact all North Carolina residents. It appears that … [Read more...] about North Carolina May Have to Repay $20 Million in Medicaid Reimbursements
Like most people, you have likely heard of Medicaid, though you may never have needed the benefits afforded by the Medicaid program during your working lifetime. What you may not realize, therefore, if the likelihood that you will need to qualify for Medicaid benefits during your retirement years. Qualifying for Medicaid though can be tricky and can put your hard earned assets at risk if you failed to plan ahead. With that in mind, do you need to include Medicaid planning in your estate plan? … [Read more...] about Do You Need to Include Medicaid Planning in Your Estate Plan?