As elder law attorneys, we help people prepare for the eventualities aging, and some of these possibilities are not very pleasant. At the same time, if you keep your head stuck in the sand, a lack of preparation can make a difficult matter a whole lot worse. This applies to the potential impact of Alzheimer’s disease. Over 6 million Americans have the disease at the present time, and it strikes 13 percent of all senior citizens and 32 percent of the oldest old. This is the term that is used … [Read more...] about Consider the Impact of Alzheimer’s Disease
It is very hard to envision the way life will be when you reach a certain age that is in the future. You can make assumptions, but you may find that things are very different than you imagined they would be because of the eventualities of aging. If you were a runner, you may have to transition hiking, and the hikes can turn into more modest walks out of necessity. At some point, you may actually need help with your ordinary activities of daily living. How Likely Is It? A lot of people know … [Read more...] about These Long-Term Care Facts May Surprise You
You should anticipate the physical challenges that you may face when you start to reach an advanced age. The vast majority of seniors will need help with their daily needs, and this is an inconvenient fact of life. If you make preparations in advance, there will be no surprises, and you will be able to manage the transition effectively. Aging in Place A lot of people that move into assisted living communities do so because of the way the living spaces are constructed. There are features … [Read more...] about Aging in Place With a Medi-Cal Waiver
Long-term care costs should be a source of concern when you are looking ahead toward your senior years. Seven out of 10 seniors will need help with their activities of daily living, and the majority of elders will require paid assistance. Medicare does not cover a stay in a nursing home or custodial care that is provided by a professional home health aide. Since long-term care is very expensive, this lack of coverage presents a challenge, but there is a veterans benefit that can make a … [Read more...] about This VA Benefit Can Help You Address Long-Term Care Costs
When you pay self-employment or payroll taxes, it can seem like you are throwing money into a black hole, but this is really not the case. You earn retirement credits that lead to Medicare and Social Security eligibility when you pay these taxes. In 2021, you get one credit for every $1470 that you earn, and the maximum annual accrual is four credits. Since the requirements are so modest, everyone that works consistently will receive four credits each year. After you have 40 credits, you will … [Read more...] about Does Medicare Cover Living Assistance?
Elder law attorneys help clients address the eventualities of aging from a legal and financial perspective. It is difficult to make projections about the future, but you should understand the cold hard facts so you can make informed decisions even though it is an imperfect science. When you are planning for your active retirement years, the picture may start to come into focus eventually, but there is another dimension that people sometimes overlook. Life Expectancy The overall life … [Read more...] about Longevity Statistics May Surprise You
There is an emerging demographic that has been dubbed the “sandwich generation.” These are people that are simultaneously caring for their children and their aging parents, and they are typically in their late 30s and 40s. Their ranks are growing because the baby boomers are attaining senior citizen status, and they face challenges because they have to juggle many responsibilities. Take Care of Yourself Experts that have studied this phenomenon emphasize several key points to keep in mind. … [Read more...] about Sandwich Generation Members Face Challenges
The Medi-Cal program may not be on your radar if you have health insurance and you know you will qualify for Medicare when you are 65. This is understandable on the surface, but there is a good reason why you should keep Medi-Cal in mind. Long-Term Care Costs Why is Medi-Cal relevant? The program will pay for a stay in a nursing home, and Medicare does not cover the custodial care that nursing facilities provide. You can expect to pay over $100,000 per year for a private room in a Los … [Read more...] about What Is the Medi-Cal Asset Limit in 2021?
The lawmakers in Washington have been wrangling with the White House with regard to an infrastructure spending package. There is an element that would impact elder care, so we will look at the details in this post. Demographic Shift During the post-World War II years between 1946 and 1964, an unprecedented number of babies were born. This phenomenon has been dubbed the “baby boom,” and if you do the math, you can see that these people are attaining senior citizen status right around … [Read more...] about Will Infrastructure Plan Include Funding for Elder Care?
Medi-Cal may not be on your radar if you have health insurance through Medicare or your employer. This makes sense on the surface, but at some point, it may become quite relevant to you. Long-Term Care Costs Most senior citizens will need help with their activities of daily living, and long-term care is very expensive. It is not easy to get out a checkbook and pay over $100,000 for a year in a nursing home when you have been retired for a couple of decades. And of course, a married couple … [Read more...] about Medi-Cal Answers: Can My Spouse Keep My Income?