Iowa Law Make Spouses Liable for Necessary Family Expenses An Iowa appeals court rules that the wife of a nursing home resident is liable to the “unpaid nursing home expenses” for her husband’s balance under a state law charging spouses for reasonable and necessary family expenses. Bethany Lutheran Health Services v. Cumpston (Iowa Ct. App.,…
Medicaid Penalty Period Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned. In order to be eligible for Medicaid, you cannot have recently transferred assets. Congress does not want you to move into…
Medicare Premiums Increase 2022 Medicare premiums are rising sharply next year, cutting into the large Social Security cost-of-living increase. The basic monthly premium will jump 15.5 percent, or $21.60, from $148.50 to $170.10 a month. The Centers for Medicare and Medicaid Services (CMS) announced the premium and other Medicare cost increases on November 12, 2021.…
Long-Term Care Premium Deductibility Limits Look Pretty Familiar The Internal Revenue Service (IRS) has announced the amounts taxpayers of different ages can deduct from their 2022 income as a result of buying long-term care premium insurance, and the figures are almost the same as in 2021. Many types of medical expenses are deductible from your…
Nursing Home Level of Care for Medicaid Eligibility When applying for Medicaid’s nursing home level of care coverage, in addition to the strict income and asset limits, you must demonstrate that you need level care typically provided in a nursing home. Whether you are applying for nursing home coverage or through a Medicaid waiver program…
Social Security Benefits Increase 2022 The year was 1983: The U.S. invaded Granada. A gallon of gas cost 96 cents. Michael Jackson’s ‘Thriller’ video premiered. That year was also the last time that Social Security recipients saw a cost-of-living increase steeper than the one just announced for 2022. This year, Social Security benefits will rise…
Promissory Note and Nursing Home Resident’s Daughter Corona Estate Planning Attorney Joseph Hudack knows that a Kentucky appeals court holds that a promissory note executed by a nursing home resident’s daughter, agreeing to pay the nursing home for the resident’s outstanding expenses, is not illegal because there was no evidence her mother’s stay in the…
Lawsuit Charges Corona Estate Planning Attorney Joseph Hudack knows that plaintiffs in a class-action lawsuit against the Social Security Administration (SSA) might describe it as an open-and-shut case. When the SSA closed its field offices at the onset of the COVID-19 pandemic, it remained open for the purposes of denying benefits. But, plaintiffs say, the…
Special Assessments and HOA Fees Corona Estate Planning Attorney Joseph Hudack knows that members of the homeowners’ community are required to pay assessment fees every month. This doesn’t mean that they will just pay whatever the HOA decides to charge them. Homeowners have every right to question an increase in monthly HOA fees or why…
Medicaid Estate Planning Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations. Long-term care can be very expensive, especially around-the-clock nursing home care. Most people end up paying for…