Many people are confused about the differences between Medicare and Medi-Cal. While these programs may sound similar, they are in fact two distinct and different programs. Medicare is an entitlement program that is funded by the federal government. It does not depend on one’s assets or income. Benefits are earned by virtue of payments made into this program over one’s working lifetime. When one retires from the workforce at age 65 or so, or earlier due to a disability, Medicare coverage … [Read more...] about Confused about Medicare vs. Medi-Cal vs. Medicaid?
Long Term Care Planning
Using Trusts for Nursing Home Planning
It is a common misconception that any type of living trust can protect your assets from nursing home expenses. While there are various types of trusts, not all of them offer asset protection. Those that do are subject to certain requirements or limitations. However, if you engage in proper nursing home planning, including the use of an appropriate trust, you may be able to avoid exhausting your assets just to pay for nursing home costs. We can help. Revocable Living Trusts A revocable … [Read more...] about Using Trusts for Nursing Home Planning
Asset Protection Planning: Should You Be Worried?
Common goals of many folks is to build up their estate assets so that they can live comfortably during the Golden Years and – hopefully — have a nest egg left to pass down to their children, grandchildren, and/or other loved ones. These goals could be threatened, however, if the hard earned assets are put at risk – and they could be at risk without you even realizing it. The best way to protect your assets, your future, and your loved ones is to include asset protection planning as a component … [Read more...] about Asset Protection Planning: Should You Be Worried?
You Don’t Have to Be Sick to Need Medi-Cal Planning
Simply because you are healthy right now doesn't mean you may not need long-term care when you get older. This is a common misconception shared by many. The truth is, you don't have to be sick to need Medi-Cal planning. You may not have health issues at the moment, but who can predict how healthy they will be in 40 years? An unexpected injury could also leave you with health issues that require long-term care as well. In fact, more than two-thirds of all individuals over the age of 65 need … [Read more...] about You Don’t Have to Be Sick to Need Medi-Cal Planning
Medi-Cal and Nursing Home Care
Long-term care facilities, such as nursing homes and assisted living facility, are typically quite expensive for families. Unfortunately, most private health insurance policies do not cover services at nursing homes. To make matters worse, Medicare coverage for nursing home care is very restricted. Most people do not have insurance policies that include coverage for private long-term care. The most common financial resources for California residents in need of long-term or nursing home care is … [Read more...] about Medi-Cal and Nursing Home Care
Medi-Cal Myths Part 1
By Timothy P. Murphy © 2016 All Rights Reserved MEDI-CAL MYTHS: PART I: YOU GOTTA BE BROKE! Editor’s note: This is the first installment of an occasional series about common misconceptions by consumers about the Medi-Cal Long Term Care program which provides financial assistance in paying for care in a skilled nursing facility. As many of our clients already know, we regularly assist families who are facing care issues for a family member who may need long term care including advice and … [Read more...] about Medi-Cal Myths Part 1
What Does an Elder Law Attorney Do?
An elder law attorney specializes in legal issues that relate to seniors and the problems they tend to face. This particular area of the law only became well-recognized in the 1980s when the legal issues affecting seniors became more complicated. The challenges of qualifying for Medi-Cal coverage at a time when the need for nursing home care was on the rise brought to light the advantages of having an elder law attorney for assistance. So, what exactly does an elder law attorney do? What … [Read more...] about What Does an Elder Law Attorney Do?
Overview of How to Pay for Long Term Care (Part 2 of 2)
As we pointed out in the first part of this article, at a certain point in most people’s lives, they become concerned about paying for long term care. There are 5 basic ways to pay for long term care. We discussed private pay, long term care insurance and Medicare in part one. Now, we turn to Medi-Cal and Veterans Aid and Attendance. Medi-Cal Medi-Cal is a form of public assistance for families who meet specified income and asset requirements. Eigible Californians use Medi-Cal to pay … [Read more...] about Overview of How to Pay for Long Term Care (Part 2 of 2)
Overview of How to Pay for Long Term Care (Part 1 of 2)
As we age, many of us become increasingly concerned about the possible need for long term care and the options available to pay for it. In this article, we will examine those options. There are 5 basic ways to pay for long term care: 1. Private Pay 2. Long Term Care Insurance 3. Medicare 4. Medi-Cal 5. Veterans Benefits Not all of these methods will be available to all persons. For example, veterans benefits are limited to only certain veterans. Long term care … [Read more...] about Overview of How to Pay for Long Term Care (Part 1 of 2)
Sacramento Nursing Home Costs Are Among the Highest in the Country
Our firm practices law in Sacramento, California, and we also have an office in Roseville. Anyone who lives in our area knows that there are countless advantages, and it is truly a great place to live. We have everything that big cities have to offer, but we also have fantastic nature all around us. Whether you want to indulge in fine dining, the arts, culture, or hiking, fishing and camping, you have easy access if you live in our area. It is no secret that northern California is a desirable … [Read more...] about Sacramento Nursing Home Costs Are Among the Highest in the Country
