After you die or, if married, after your spouse dies, federal law requires that your state try to recover your Medicaid-paid nursing home costs from your estate. States also have the option to try to recover other Medicaid costs. Want more information? Head toMedicaid.gov. Next:Life Insura...
Life insurance products must be distinguishable from financial instruments by including time-tested insurance safeguards. Congress should exercise its authority under the McCarran-Ferguson Act to permit insurance providers to offer and negotiate insurable interest as a contract term, and to price such pol...
Part B is optional, and if you have health insurance through an employer when you turn 65, you can wait to sign up. However, if you don't have employer-sponsored insurance and you decide later you want to sign up, you may have to pay a late-enrollment penalty.78 Medicare Supplement ...
Funds for Medicaid come from both the federal government and the individual state government. And as such, the rules governing Medicaid also come from two sources. The federal government sets certain standards, but gives the states flexibility on the services they provide. This is especially true ...
The applicant is required to provide documentation of all assets in the verification process -such as the deed to your residence, owned vehicles, cash, savings, stocks, bonds, annuities, life insurance policies, etc. Additionally, states often use an electronic Asset Verification System database ...
AshBer is a financial services firm that specializes in insurance solutions that help pay for long term care. We are here to help clients who are proactively planning for a long term care stay as well as the clients who are not properly prepared for the
Medicaid does pay for your stay in a facility for as long as you need the care. Long-term care insurance, on the other hand, does only if you choose a benefit level high enough to cover a lifetime of costs. Medicaid also covers your costs from day one, while long-term care insurance...
Some entitlement programs are “means tested” and designed to funnel money to low-income individuals. This type of spending is sometimes referred to as “unearned benefits.” Some entitlement programs are “social insurance” since people pay specific tax in exchange for specific benefits. This typ...
What about a life insurance policy? Many people believe they are ineligible for Medicaid coverage of nursing home costs and doctor’s bills simply because they own property or have some money in the bank. The truth is there are a variety of assets that seniors can own and still be eligible...
individual states also administer their Emergency Medicaid programs. Unlike regular Medicaid or private insurance, these benefits are intended to provide payment for certain patients experiencing acute symptoms that could negatively impact the life or health of a patient, or the dysfunction of a body pa...