Articles Posted in Long-term Care Planning

grandfather-on-the-porch-519288-mMany people believe that assisted living in Connecticut is out of reach for the average older adult, financially speaking, especially since our state is even pricier than other nearby states. But here’s some good news: the State of Connecticut supports several assisted living programs for individuals and couples with modest means.

According to the Department of Social Services’ website: “Assisted living bridges the gap between independent living and nursing homes. Assisted living is designed for people who want to live in a community setting and who need help with activities of daily living (ADLs), but who do not need as much care as they would receive at a nursing home.”

Why does the state want to help you stay out of a nursing home? Continue reading

Grunge Stempel rot PREPAIDYou have probably heard the phrase “spend down” – something you could do to reduce your assets which would help to qualify you for Medicaid.

A prepaid funeral contract is one of those items that are considered exempt. In other words, its value won’t be counted when the Department of Social Services is reviewing your total assets.

And that value has just gone up.

By Lara Schneider-Bomzer

long-term care insurance policyIf you’re like so many Connecticut residents, you wonder whether or not you should purchase a long-term care insurance policy.

And whether, or how, it fits into your estate plan.

It’s uncanny that we may own a life insurance policy that will provide for our loved ones after we’re gone – but we don’t have a policy to protect US…while we’re still here…when we need to pay for long-term care.

This blog will explain how long term care insurance policies work. Continue reading

By Linda Raineault

exclamation sign red circle 3d modern design flat icon on whiteHave you heard the sales pitch?

There are annuities available that contain provisions known as “nursing home income doublers” that can help you pay for the cost of a nursing home stay.

These provisions are found in annuity contracts that guarantee the purchaser an income stream for life by way of an income rider that is attached to the base contract.

The sales pitch sounds fantastic!

Many contracts are sold based on a premium bonus feature and guaranteed high annual interest rates that sound fabulous in today’s low interest rate environment.

Additionally, the owner can elect to start taking the guaranteed income stream for life at any time after the contract is purchased. Continue reading

Safe and moneyBy Lara Schneider-Bomzer

Purchasing annuities is a good way for married couples to protect assets, but doing it wrong could mean huge penalties. Here is what you need to know about annuities as it relates to Medicaid planning in Connecticut:

If your spouse is residing in a nursing home or is in need of home care, chances are you’ve read our blogs about the ways to protect your assets and qualify your spouse for Medicaid benefits. But not all strategies apply to all couples. Continue reading

Happy senior mother and daughter portraitTransfers of assets generally raise a red flag when it comes to applying for Medicaid. They can trigger a penalty period, or a period of ineligibility. The good news is the Connecticut Department of Social Services (DSS) will allow certain types of Medicaid asset transfers.

For example, a family caregiver can be compensated for providing care to a loved one if the care they provide is necessary.

Make a caregiver agreement

The individual must demonstrate a functional need for assistance with one or more activities of daily living. The type of care provided must be spelled out in a caregiver agreement, and certain conditions must be met. We will discuss the conditions later in this post. Continue reading

dollars-1412644-mBy Claudia W. Englisby

The Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) disability programs are the largest of several Federal programs that provide assistance to people with disabilities. While these two programs are different in many ways, both are administered by the Social Security Administration and only individuals who have a disability and meet medical criteria may qualify for benefits under either program.

SSDI pays benefits to you and certain members of your family if you are “insured,” meaning Continue reading

what-next-1-924436-mWhen we get to a certain age, we sometimes experience what is jokingly referred to as a “senior moment.” We forget a name, miss an appointment or overlook a bill.

But if forgetfulness or confusion starts to seriously interfere with daily life, it’s time seek medical help. The symptoms could point to Alzheimer’s or another form of dementia.

What are the warning signs?

How can you tell if someone in your life is more than just a little forgetful and needs a medical evaluation? The Alzheimer’s Association lists these 10 early signs and symptoms of Alzheimer’s: Continue reading

iStock_000016746886Smallby Carmine Perri

You want to apply for Medicaid – a complicated process – but you’ve heard that hiring an attorney specializing in Medicaid planning is expensive.

So why not use one of those new services that say they’ll do the same thing for less?

But do they really do the same thing?

The State of Florida doesn’t think so. Continue reading

By Carmine Perri

Litigator_cartoonIf you or your loved one is in a nursing home, you need to know your rights! Once you understand what they are, you can better stand up for them.

Just as you are protected in your own home by a set of laws, residents of nursing homes are protected by a Code of Federal Regulations. The “Code” ensures that residents’ right are promoted and protected.

Unfortunately, there are times when this does not happen. And when this is the case, you need to make your voice heard.

But first, you must know your rights. Take a look below at some key resident rights that are often challenged. And let us know if you think they are being violated, we can help you. Continue reading

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