Even those who save diligently for their retirements often can't pay for the costs of long-term care needs out of pocket. If someone needs nursing support to stay in their home or a room in a nursing home, they may require insurance to help cover their expenses. The...
Age Gracefully With A Plan In Place
Medicaid Planning
3 things to know about Medicaid’s lookback period
Navigating Medicaid's rules and regulations can be challenging, especially regarding long-term care planning. One of the critical elements in this process is the Medicaid lookback period. Understanding this lookback period is essential for those considering Medicaid...
When should I begin my Medicaid planning journey?
Medicaid is a needs-based state and federal government-funded health insurance program. Americans with income below a certain level and without significant assets can apply for Medicaid to cater to their medical treatment and healthcare needs. While Medicaid is part...
Trusts may be beneficial in Medicaid planning
As you approach retirement or begin planning for your long-term care, you might start thinking about Medicaid planning. Using trusts can be an effective way to preserve your assets while still qualifying for Medicaid benefits. There are various types of trusts you...
What is Medicaid’s five-year look back?
Medicaid is a program that assists low-income seniors with medical costs. When a senior applies for the program, Medicaid will conduct a five-year look back. Because Medicaid is a program for people with low income, the financial records and assets of the applicant...
What is the cost of a nursing home in Indiana?
As you plan for how you want to spend your later years in your life, you may be aware that you could have to live in a nursing home. Maybe you have some medical conditions that you know you're not going to be able to work around forever. Perhaps you're just conscious...
If you don’t protect your assets, Medicaid could take it all
Indiana's Medicaid program is only accessible to those with real financial needs. You typically have to show that you have both limited income and limited personal assets to get benefits. Usually, your home will be one of the few assets that won't count against you...
Why you and your elderly relative should plan for long-term care
Planning long-term care ahead of the time your elderly parent or relative may need this service is helpful. Preplanning may reduce the stress and financial burden on you and your family. Because you may not know what the future holds for your relative, it is important...
The troubling facts about long-term care in the U.S.
When you enter your senior years, you may anticipate a peaceful and carefree existence. Most elders residing in Carmel, Indiana, do not expect an illness or other incapacitating event to occur, especially those that take steps to remain fit. Unfortunately, life...
What you need to know about Medicaid divestment penalties
People often don't realize the limitations of Medicare until they don't have the coverage they need. Medicare doesn't offer very robust rehabilitation coverage. It also won't pay for skilled in-home nursing support or nursing home expenses. Therefore, many people find...