 | Summaries and Customer Reviews are supplied by Amazon.com | It is estimated that five out of ten people turning 67 will use a nursing home at some point in their lives and many will need home care and other related services as well About two-thirds of people in nursing homes have no living relatives. And about 70 percent of all nursing home patients are women. Nursing home costs are estimated to be $75,000 in 2009, which would economically devastate most families. The federal government will not be helping either, unless you are without any assets, Medicare will cover you for a maximum of 100 days, but there are no social security benefits to cover any of these expenses. The only program that can assist you is Medicaid, but the catch is you must qualify. You can protect yourself from Medicaid nursing home costs by taking action now while you still have your health; the key is in the planning, which this new, groundbreaking book will assist you with. On February 8, 2006, President Bush signed a law called the Deficit Reduction Act of 2005. This law makes sweeping changes to the ability of seniors to transfer (gift) assets to their children and grandchildren. The information you use must be up to date. You will learn all the LEGAL means to protect your assets: The Federal Spousal Impoverishment Act, Medicaid trusts, including what they are and how to use them, and Medicare supplemental insurance. You also will become knowledgeable about asset protection strategies, annuities, long-term care insurance, wills, assets, settlement costs, executors and trustees, life insurance, living trusts, living wills, durable power of attorney, catastrophic illness, potential long-term care needs, marital deductions, types of trusts, federal and state exemptions, irrevocable life insurance trusts, gift splitting, survivorship deeds, charitable remainder trusts, 529 plans, health care proxies, power of attorney, gift tax issues, generation skipping transfer tax, and tax deferred accounts. In addition, you will learn how to legally and properly transfer assets and how to exempt the value of your principal residence. Through proper planning, much of your assets can be preserved within the family. This new book will guide you through the complex state and federal rules that are required for successful asset and income protection planning. Many books on asset protection indicate that you do not need the services of an attorney, but we highly recommend that you hire an attorney who is well-versed in this area to assist you. What this book will do is explain the complicated issues, terminology, and planning strategies of asset protection to the layperson so that when you meet with a qualified attorney you will be well prepared, versed in the language, and ready to discuss issues and strategies, saving time, legal fees, and ensuring peace of mind. Get started today with the help of this new book. |
Average Customer Rating:   Excellent advice on caring for the elderly "The Complete Guide to Medicaid and Nursing Home Costs" is an indispensable reference that contains all of the essential information you need to know when caring for your aging parent in times of illness. You will find helpful tips on qualifying for Medicaid, information on wills and deeds, how to transfer gifts, and contact information for state agencies. Accompanying this material is valuable advice about planning ahead, protecting assets, specialized nursing home care, finding caregiving services, and long-term care for Alzheimer's patients. The book also provides numerous examples that prove invaluable in explaining the issues under discussion.
Over the past few years, many new laws have been added to state and federal statutes regulating Medicaid and nursing homes. This book discusses the up-to-date statutes as well as new state-wide programs that allow family members to stay at home and be paid to care for elderly parents in the home as an alternative to a nursing facility. Other choices presented in the book really help the reader understand the various options available to them. Many real-life situations are presented and discussed thoroughly to aid in the understanding of the legal principles. Thorough discussions of issues relevant to seniors and their families make this a must-read for everyone helping an elderly parent. The book will also be welcomed by elder law attorneys, financial planners, health care organizations, and others concerned with health care issues. It is also suitable as a guide for nursing and health care students.
Medicaid and Nursing Homes As the bumper sticker says "Aging, if it's not your problem now it soon will be." This is a necessary book for everyone 55 and over or with a relative that is. It attempts to straighten the tangled web of Medicaid rules. It tells you how to avoid the pitfalls that make an elderly person not qualify for the aide and how to avoid having family assets seized when the bills come rolling in after a serious or long term illness.
This book contains an alphabetical list of Medicaid agencies for each state with address, phone, fax and web site and a short paragraph on the differences for each state listed in chapter 10. The book covers gifts and promissory notes to help when finances become tight. The book even covers alternative services to nursing homes because many states are trying to cut Medicaid costs by looking for alternatives to nursing homes. Each state has different ideas on how to do this. When looking into these programs for loved ones there are certain things one should look for. These are listed within the chapter within each type of program discussed. Probably most importantly chapter 14 deals with how to find a good elder care lawyer. This book even sports case studies, a bibliography and an index.
Although a wise purchase, a slightly difficult book to read because it has some very confusing parts
ibraries catering to an aging popular will find this an increasingly popular reference to a complex topic With more baby boomers joining an aging population, it's more important than ever for libraries to include Complete Guide to Medicaid and Nursing Home Costs on their health reference shelves: it provides a survey of legal means of protecting assets, teaches about state and federal laws regulating Medicaid and nursing homes, and tells how to plan ahead for proper asset management. Libraries catering to an aging popular will find this an increasingly popular reference to a complex topic. Understanding Medicaid In the United States, health care is increasingly becoming one of the biggest crisis that face families today. Government health care programs such as Medicaid offer limited solutions to low-income families, and the process to get proper care is often met with confusion and challenges. The Complete Guide to Medicaid and Nursing Home Costs addresses such scenarios and gives you valuable information on making levelheaded decisions about consultation and representation, achieving financial stability, and protecting your possessions from being seized.
First, it is imperative that you become more knowledgeable about the Medicaid program to navigate all of the glitches within this system. Also, you will learn how to take accurate estimates of your assets (from properties to finances) to determine what is at risk to Medicaid. Remember that the rules in one state may vary from another state and status (single, married, etc) is taken into heavy account. The state takes a vested interest in various areas of your life once you decide on the Medicaid program. This book suggests that you consider annuities, gifts, wills and deeds as critical components in understanding Medicaid as well.
The Complete Guide to Medicaid and Nursing Home Costs shares with you how to qualify for Medicaid by suggesting that you consider a number of conditions such as inflation protection and nursing home care. Needing care or being a caregiver is indeed a touchy subject that this book also addresses. The contact information of each U.S. state agency is included for direction on getting started. News on Medicaid in each state is incorporated for up-to-date knowledge.
There are policies, rules and regulations for every subject matter in this book, which signifies the seriousness of ensuring that your life's plan benefits the whole family.
A COMPREHENSIVE GUIDE ON MEDICAID AND NURSING HOME COSTS The political season has dug up again a controversial issue that often send jitters down the spines of millions of Americans--Health Insurance. It is a subject most people, whether insured or not, find quite intriguing. The complexity of the Health Insurance policy sometimes gets more complicated as one grows older. And many elderly people are worried about the extent of coverage they could get out of their Health Insurance Policy. It is quite interesting that The Complete Guide to Medicaid and Nursing Home Costs addresses these burning issues with utmost simplicity.
The book unravels many exciting topics related to Health Insurance Policies in the United States. It exposes every necessary information on Medicaid and Medicare: how to be qualified for Medicaid, the extent of its coverage and tips for Medicaid annuities payment for single and married. It gives unique explanation on how to keep your family assets protected, and how you could transfer gifts that won't result in Medicaid penalty. The Guide goes a step further to treat the issue of Wills and Deeds, elder lawyers and some alternative services to Nursing Homes.
Several case studies are discussed, and it also touches on how Medicaid handles patients with Alzheimer's Disease. It highlights Medicaid Policies in different States, making it easy for people to gain a lot of knowledge about Health Insurance Policies by merely flipping through the pages. This Guide will go a long way in debunking some mystery surrounding the subject of Health Insurance.
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