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Posts tagged "Medicaid Planning"

Understanding Medicare insurance

The U.S. government runs the Medicare program which takes care of elderly people as well as people with disabilities. Those who cannot afford to pay their medical bills are the ones who benefit the most from a program like Medicare. The payment for the program is made by contributions you make through social security. Contributions made by your spouse also make you eligible for the Medicare program. Information about the program may be obtained at your closest local Social Security office.

How to choose the right nursing home

The simple truth is that as you get older, you will begin to require more and more medical care. Even if you have eaten healthy and exercised regularly for your entire life, you will eventually reach a point where you will be unable to care for yourself. Some people are fortunate enough that their family and loved ones can help them with their daily lives, but for those who do not have that luxury, nursing homes provide an excellent environment for elder care.

How does Medicare differ from Medicaid?

One of the most important things for aging and elderly individuals is healthcare. After retiring and taking a significant drop in monthly income, many people struggle when they begin to realize that their monthly healthcare costs may end up being higher than they could ever have imagined. In order to compensate the sudden spike of health care costs that many elderly individuals receive, the federal government has implemented two plans to help offset the costs: Medicare and Medicaid.

How to shield your assets through Medicaid planning

Growing old comes with challenges that are hard to grasp when you are healthy and young. However, the best time to properly prepare for those challenges is when you actually are still healthy and young. Nursing homes, assisted living, in-home care and other elder care options are costly and if you haven't planned appropriately, can deplete your assets and leave you with little to nothing to bequeath to your loved ones when your time comes.

Florida residents: Medicaid or long-term health insurance?

Florida has a reputation as a retirement destination. As a result, more and more retirees flock to the Sunshine State annually to live out their golden years surrounded by palm trees and beaches. While the thought of retirement in Florida sounds idyllic, most Florida retirees find themselves forced to make difficult decisions to ensure their years in the state remain idyllic. One of the most common difficult decisions is whether to rely on Medicaid or purchase long-term health insurance.

What is the difference between Medicaid and Medicare?

Medicaid and Medicare, while sounding very similar and often confused, are two significantly different federal programs.  In a broad sense, you are eligible for Medicare when you've worked and paid into Social Security throughout your life. Medicaid, on an equally broad base, is a program that is based on your financial portfolio, or lack thereof.

Protecting your assets from depletion as you require more help

Elder care is a part of life that we may only need to address if we are lucky enough to get the opportunity of a lengthy life span. Statistically, one-fourth of adults between 65 and 80 will require the care of a nursing home during their life. Since the average cost of a nursing home, per month, is in excess of $7,000, anyone requiring the care of one is very likely to face asset depletion.

Long-term care and Medicaid spend down

Medicaid can be a useful benefit for seniors facing long-term care expenses. However, becoming eligible for it can be somewhat tricky. Long-term care facilities typically are very expensive. This may pose a significant problem to seniors whose income puts them above the Medicaid eligibility cap. Seniors whose income is above the Medicaid eligibility cut off may need to spend down their income to become eligible for Medicaid. Before making any serious decisions, seniors and their loved ones should keep in mind some important factors when coming up with a plan for Medicaid spend down.

BlueMedicare Preferred coming to Jacksonville

A new health care option for Medicare recipients is coming to Florida beginning in January. According to a recent article in the Jacksonville Business Journal, Florida Blue is teaming with Alignment health care to open various clinics in and around the Jacksonville area.

Many want Medicaid expansion on ballot for 2016

Florida is one of the 20 states that have yet to expand Medicaid under the new provisions of the Affordable Care Act. Without the expansion of Medicaid, 1 million Florida residents are stuck somewhere in the middle of making too much for Medicaid benefits and too little to afford other health care. The alarming number of uninsured residents has Florida Health Solutions concerned, and looking to get the matter put to vote in the 2016 election.

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