Moving an aging parent or loved one into a nursing home can be a difficult and stressful time. You’re likely anxious to get mom or dad finally settled. Before you get ready to sign those admissions papers, though, watch out for mandatory nursing home arbitration clauses hidden within all the fine print. Otherwise, you may not even realize it’s there and sign away your right to take the nursing home to court in the event something tragic happens. [Read more…]
Can you be kicked out of assisted living?
It’s not uncommon for an assisted living facility to try to force a resident out, or to refuse to renew the person’s lease.
Often, the reason is that the facility believes that the resident’s condition has deteriorated to the point where it can no longer provide all the services that he or she needs. [Read more…]
How to Choose the Best Medicare Part D Drug Plan
Choosing the best drug plan under Medicare Part D isn’t always easy. Some people just pick the plan with the lowest premium, but that Medicare Part D plan might not be the best value for you, depending on your needs.
The real cost of a Medicare Part D plan depends not only on the premium, but also on the availability of the drugs you need, your additional out-of-pocket costs, and how convenient it is to obtain your medications. [Read more…]
5 Things to Discuss Before Retirement
You may have a vision for your retirement, but does your spouse share that vision?
A recent study by Fidelity Investments found that many couples are not in accord about retirement. For example, one-third of couples approaching retirement disagree about or don’t know where they are going to live after they retire, and 62 percent don’t agree on their expected retirement ages. [Read more…]
Are you getting the right Medicare coverage?
Seniors who have chronic illnesses and disabilities can now get Medicare coverage for skilled nursing and therapy services … even if those services will simply maintain the person’s present health status and aren’t likely to improve their condition.
Earlier this year, the government agreed to settle a class action lawsuit over this issue. That settlement has now been approved by a federal court – and what’s more, the settlement has been made retroactive to January 18, 2011, so if you were denied coverage for services after that date, you might be able to go back and re-apply for coverage. [Read more…]
What conditions does Medicare cover
In a major change, the federal government has agreed to provide seniors who have chronic illnesses and disabilities with Medicare coverage for many services … even if those services will simply maintain the person’s present health status and aren’t likely to improve their condition. [Read more…]
Choose Your Medicare Doctor Carefully
If you have original Medicare, then choosing which doctor you visit can make a big difference in how much you have to pay.
Under Medicare Part B, which pays for doctor visits, once your annual deductible is met, Medicare pays 80 percent of what it considers a “reasonable charge” for the item or service. You’re responsible for the other 20 percent. [Read more…]
What Happens if My Long-Term Care Insurance Fails?
People typically buy long-term care insurance years before they need it. As a result, they’re taking a gamble that the company will still be around when it’s time to pay out. What happens if the long-term care insurance company goes out of business?
But in cases where an insurance company simply fails, every state has an insurance guaranty association that protects consumers. The purpose of this association is to take over the policies of an insurance company that’s experiencing financial difficulties and ensure that claims are paid. [Read more…]
Women May Soon Pay More for Long-Term Care Insurance
Long-term care insurance may soon be getting more expensive for women. That’s because two of the country’s biggest long-term care insurance providers have announced plans to introduce “gender-based” pricing. [Read more…]
Medicare Mistakes Lead to Big Penalties
Most people should sign up for Medicare when they reach 65; if they wait until later, they have to pay a significant penalty when they do sign up. There’s an exception, though, for people who are still employed at age 65 and are covered by a group health plan. These people can delay signing up for Medicare without a penalty. [Read more…]
