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What You Need to Know about the Corporate Transparency Act

February 19, 2024 Congress enacted the Corporate Transparency Act (the “Act”) for Fiscal Year 2021 as part of the National Defense Authorization Act with an effective date of January 1, 2024, which this blog first reviewed herein The Not-So Transparent Corporate Transparency Act. The Act requires any “Reporting Company” to…

Medicaid Spend Down: Pay for More Than Just Medical Bills

February 19, 2024 Since the 1960s, Medicaid has provided health care coverage for low-income people across the United States. For millions of seniors, Medicaid offers financial assistance, helping them to cover the cost of long-term care services. Today, this joint federal-state program also benefits other qualifying populations with limited income,…

Understanding Medicaid’s Long-Term Care Spousal Impoverishment Rules

February 13, 2024 The prospect of long-term care often brings with it many financial concerns. As we experience our declining health or that of an aging family member, we begin to realize that long-term care needs at home or in a facility could be necessary. When looking into local senior…

Protect Your House When You Want to Qualify for Medicaid

February 8, 2024 You generally do not have to sell your home to qualify for Medicaid for nursing home coverage. However, it’s possible for the state to file a lien against your home after you die. So, you may want to take steps to protect your house. If you get…

States With the Highest and Lowest Assisted Living Costs

January 31, 2024 Today, 58 million adults in the United States are 65 and older. Seniors make up more than 17 percent of the American population. The U.S. Census Bureau expects this number to reach 83.7 million by 2050. Meanwhile, one in every seven older adults will at some point…

There’s No Better Way to Say “I’ll Be There for You” than with an Estate Plan

January 24, 2024 Matthew Perry was probably best known for his role as the sarcastic, neurotic, and always witty, Chandler Bing on the hit-tv show, Friends. He died suddenly at the age of 54. He was unmarried, had no children, and was survived by his parents, five half-siblings, and legions…

Medicare Benefits 2024: 5 Positive Changes for Seniors

January 16, 2024 More than 65 million seniors across the country benefit from Medicare, a government health insurance program. When Does Medicare Start?At age 65, you become eligible for Medicare if you are a U.S. citizen. You do not have to wait until you retire to apply for the program….

Medicaid Redetermination: In One State, Many Didn’t Renew

January 10, 2024 Results of a recent survey led by the Department of Health and Human Services in Utah reveal that more than half of the state’s residents who lost their coverage during Medicaid’s “unwinding” process in 2023 did not attempt to resecure their benefits. What Is Medicaid?Medicaid is a…

Starting 2024 the Right Way…with an Estate Plan!

January 9, 2024 Welcome to 2024! The year 2023 left many feeling unsettled and taught us some tough lessons, most of which focus on preparing for the unexpected and unthinkable. Creating an Estate Plan helps give us a feeling of control and peace of mind, knowing that your loved ones…

Retirees: Deduct Your Long-Term Care Insurance Premium

December 28, 2023 Even if you have a long-term care insurance policy, you may likely be hoping that you won’t ever have reason to use it. Regardless of what the future holds, there’s one silver lining of which you may not be aware. That is, premiums on many long-term care…