The central question to consider is how many employers are covered under your group plan at work? Medicare beneficiaries are exempt from any penalties if they are participating in an employer group health plan with 20 or more covered employees. You may or may not have to get on Medicare; this would depend on your company rules. I would recommend that you speak with your Human Resource manager or related person.
1) Does the 5-year look-back period translate into a discrete time period based on the amount of money gifted during that 5-year look-back time? For example, if a person gifted to others a sum of $60,000 in several gifts since late 2016, is that divided by $12,895 to give a "penalty period" of 4.65 months? Or is the penalty period through 2021, 5 years from 2016?
2) What about an Irrevocable Trust set up by a third-party decades ago? Would that have to be accessed and spent down
What does Medicare Part A, B, C, D mean?
My mother lives with me but has dementia and she may soon need to move into a facility. She has only Social Security income. She gave me her savings which
My mother is gone, and my dad is 91. He needs long-term care but can't afford it, so I think he has to go on Medicaid. He owns a home worth about $220,000 and only gets Social Security. The only other asset he has is my mom's jewelry, which we think is worth close to $100,000. Does that count for Medicaid assets? What do we do?
I qualify for Medicare next year and I plan to continue working so my wife who is younger than me can have health insurance. But how does it work for me if I have an employer plan and I qualify for Medicare?
Medicaid is a federal-state program. It is the government’s version of long-term care insurance. It is a safety net for those who can’t pay for healthcare.
The Center of Medicare & Medicaid has announced its plan to remove Social Security numbers from Medicare ID cards.
The Pharmaceutical Assistance to the Aged and Disabled (PAAD) program can significantly reduce your part D co-payments and possible eliminate the donut hole. This article discusses the guidelines and requirements.
This article discusses the meaning long term care.
The article discusses life insurance as an asset under Medicaid rules.