MISTAKE #1: Creating a "three on a policy" (designating separate parties as owner, insured and beneficiary). This can result in gift tax at the death of the insured.
MISTAKE #2: Failing to designate a successor policy beneficiary. In the event the beneficiary predeceases the insured, the proceeds will be paid to the insured's estate, subjecting the policy to creditor claims, probate and, potentially, more tax.
MISTAKE #3: Creating a three-party corporate problem. As with the above three on a p ...
Every year Medicare changes the allowances and requirements. Effective January 1, 2009, the following schedule of benefits, etc. will be applicable:
Medicare Part A Services and Supplies: During the first 60 days Medicare will pay all but $1,068. From the 61st to the 90th day, Medicare will pay all but $534 per day. Beyond the 150th day of hospitalization, Medicare will pay nothing. It also will charge for blood after a 3 point deduction.
Skilled nursing Facility Care: Medicare requires a thre ...
