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| 26 | 27 | 28 | 29 | 1 | 2 | 3 |
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Medicare
As previously mentioned in a prior blog post I made, the first cost-of-living adjustment since 2008 has recently been made. This adjustment brought a 3.7% increase to many of the planning figures used in an elder law practice every day.
Spousal Impoverishment Standards
Minimum Community Spouse Resource Allowance: $22,728
Maximum Community Spouse Resource Allowance: $113,640
Maximum Monthly Maintenance Needs Allowance: $2,841
Income Cap Limit: $2,094
Minimum Ho ...
The Centers for Medicare and Medicaid Services ("CMS") have set the Medicare premiums, deductibles, and coinsurance amounts to be paid by Medicare beneficiaries in 2011. Effective January 1, 2011, the following schedule of benefits, etc., will be applicable:
Medicare Part A
Medicare Part A provides for inpatient hospital, skilled nursing facility, and some home health care. The deductible for 2011 will be $1,132, resulting in an increase of $32 from this year's $1,100 deductible. ...
Question: What needs to happen to the monthly income generated by a Gifting/Short-Term Medicaid Compliant Annuity Plan when the individual unexpectedly goes to the hospital and re-enters the Medicare system for skilled nursing home care? Assume that the individual has a Medicare supplemental insurance plan.
Answer: By the end of the month, a Medicaid applicant/recipient must find a way to spend-down the monthly income. If the income is not properly spent-down, it converts to a resou ...
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 ...
Many seniors mistakenly believe that Medicare covers nursing home stays. In fact, Medicare's coverage for nursing home care is quite limited. Medicare only provides up to 100 days of "skilled nursing care" per illness, and there are a number of requirements that must be met before the nursing home stay will be covered.
In order for a nursing home stay to be covered by Medicare, the individual must enter a Medicare approved "skilled nursing facility" or nursing home within 30 days of a hospital ...
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