Massachusetts Estate Planning & Asset Protection Blog

Tips to Prevent Elder Abuse in Honor of World Elder Abuse Awareness Day

Posted by Dennis Sullivan & Associates on Sat, Jun 08, 2019

 

Did you know that elder abuse impacts millions of Americans every year, and millions more across the globe? It is a reprehensible problem, and one that is not likely to go away anytime soon. Especially as our senior populations continue to grow both in Massachusetts and across the United States, and as life-expectancy rates increase, incidents of elder abuse can only be expected to rise.

One of the best ways to fight the growing epidemic, is to educate the public about the reality of elder abuse together with the risk factors and causes, and ways to prevent it. This is exactly what business like ours, governments, human rights organizations and many professionals are doing in association with World Elder Abuse Awareness Day on June 15th.

In honor of World Elder Abuse Awareness Day, let us share a list of tips with you to help prevent elder abuse from harming a loved one in your life right here in our blog:

 Educate senior members about elder abuse and make sure they know to report it immediately.

 If an aging loved one suffers from dementia or is unable to speak up for themselves, then actively pay close attention to signs of abuse and neglect.

  • Keep senior family members engaged in community activities and social groups. This can decrease isolation, and reduce their vulnerability to abuse.
  • Make sure an elder family member has a phone, or a way to communicate promptly.
  • Older Americans should not give out personal information on the internet or over the phone.
  • Obtaining a durable power of attorney allows for a trusted person, like an adult child, to make important decisions on the elder person’s behalf even when they are ill.
  • Know your rights. If an aging loved one lives in a nursing home, he or she has every right to contact a Long Term Care Ombudsman. The ombudsman is the advocate and has the power to intervene.

If you suspect an elder loved one is the victim of abuse, which includes physical, emotional, and sexual harm, in addition to neglect and financial exploitation, do not wait to report it. You can click this link to learn how to report abuse in Massachusetts. We can only stop the epidemic of elder abuse by making an effort together to stop it. Do not wait to contact us with your questions on this or any elder care issues.

To learn more about Elder Law, Estate Planning and elder care issues attend one of our free discovery sessions. 

Tags: Elder Law, elder care journey, elder care, elder abuse

How to Approach an Elder Loved One When Family Caregiving Is No Longer Enough

Posted by Dennis Sullivan & Associates on Fri, Apr 19, 2019

P42.Sullivan.Blog.April2

Today, the vast majority of elder care services provided to tens of millions of American seniors are performed by close family members. It is hard work that often involves a myriad of sacrifices. Although we do not say it enough, family caregivers are truly unsung heroes.  

Sadly, there usually comes a time when even the most dedicated family caregivers are no longer able to provide the best level of care for their aging loved ones. Whether due to illnesses, like Alzheimer’s Disease, a debilitating injury, or as a result of aging, the demands of senior care may eventually surpass a family’s capacity to give.

This may be when it is time for outside assistance. Unfortunately, the transition can be difficult, especially for the older adult and the current caregiver. It is important for the entire family, however, to see the forest from the trees and maintain perspective. What is best for the elder adult should override all other considerations. Let us share several tips with you about how to break the news that a different form of caregiving is necessary.

Be Understanding.

The uncertainty of change can cause confusion and friction regardless of age. It is important to understand this about seniors, and empathize with them. If they are resistant, realize that there are likely complex emotions at play, such as fear, anger and  abandonment. It is also reasonable considering they are vulnerable and transitioning away from family and into the care of strangers.

Explain Why It Is Necessary.

Explain the benefits of outside care, and that accepting it will not just be good for them, but for the whole family. Explain that you both will need to compromise on some things. Do not make quick decisions and ask for their input on caregiving solutions.

 Do Not Take it Personally.

 It is easier said than done, but when an elder person lashes out, try not to react. Showing patience, focusing on the big picture, and picking your battles can help both of you feel in control and manage the stress for all involved as you guide them forward.

 Decide Together.

 No ultimatums are needed. Set up care options to address an aging parent’s needs, and allow them to test the waters in this new experience. Create options for caregiving when you can and ask them for feedback. Explore the benefits and drawbacks together.

 Finally, do not wait to contact an experienced elder care attorney for assistance. Attorneys in firms like ours are specially trained to be able to help families navigate these waters. Do not wait to ask us your questions and let us serve as a valuable resource for you in virtually all aspects of transitioning beyond family care.

Tags: in-home care, elder care journey, elder care, family, caregiver, care costs

Is your Planning Stuck in Limbo? (part 2)

Posted by Dennis Sullivan & Associates on Tue, Aug 01, 2017

How does the debate over health care reform affect you and your estate plan?

35274856603_c2af85ca10_b.jpg In our last post we discussed the importance of keeping up with the constant changes happening in health care reform. We will continue to examine how the on-going deliberations in Washington may affect you, your future health care and your estate.  We at Dennis Sullivan & Associates are keeping up to date on all the changes, and making sure you stay informed on all the important details.  For more information on the current law of the land, you can download our Report: Senior & Boomers Guide to Health Care Reform.   

The Senate has dealt a devastating setback to Republican efforts to repeal and replace Obamacare, defeating a GOP "skinny repeal" bill early Friday morning. With the "skinny repeal" bill off the table, lawmakers are unsure of where the health care debate is headed. 

Senate Majority Leader McConnell and his staff are trying to find a balance between conservative Republicans, who want a full repeal of ObamaCare and a replacement that has lower health care costs, and more moderate Republicans who want to preserve its more popular benefits.

The deal-making process is in full swing, with the additions of opioid funding and allowing health savings accounts to be used to pay for insurance premiums. Some Senators are for potentially leaving in some taxes to pay for more generous benefits, after weeks of being criticized by Democrats for offering “tax cuts for the rich and Medicaid cuts for the poor.” Conservatives want to cut more from the regulations and many from Medicaid expansion states are uneasy about future cuts to Medicaid.

Senator Ted Cruz of Texas has offered an amendment called the “Consumer Freedom Option” that would allow insurance companies to sell any health coverage plan they wish as long as they provide one plan that satisfies the “essential benefits” mandates of Obamacare. While the Cruz amendment appeals to conservatives who want to provide consumers with lower cost options, moderates are concerned it could negatively impact those with pre-existing conditions. Supporters have suggested that federal subsidies could help ensure that premiums don’t increase for those who are seriously ill. The CBO is currently scoring this amendment.  

President Trump, along with Senator Rand Paul of Kentucky and Senator Ben Sasse of Nebraska, has even offered to repeal ObamaCare for now and replace it later.

Of course, no one is going to get everything they want so there must be compromises. Majority Leader McConnell has said that if the Senate is not able to pass a bill soon, Congress will have to pass a bipartisan measure to shore up the imploding health insurance markets.

And so, the Civics lesson continues. The process is at work.  As we see here the process can be long, unstable and worrisome.  Luckily for you your estate planning doesn’t have be. We at Dennis Sullivan and Associates make your estate planning and asset protection worry and stress free.  Once you have a plan in place you will feel confident knowing it will protect you, your family and your life savings.  You can enjoy life to the fullest knowing you and your family are protected no matter what unknowns lay ahead. 

 

At the Estate Planning & Asset Protection Law Center, we help people and their families protect their home, spouse, life-savings, and legacy for their loved ones.  We provide clients with a unique educational and counseling so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.

We encourage you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about what you can do to enhance the security of your spouse, home, life savings and legacy.

Click Here to Register For Our Trust, Estate & Asset  Protection Workshop

Tags: long term care, Medicare, Medicaid, life-care plan, Retirement, Estate Planning, Elder Law, Announcements, elder care journey, Health Care, seniors, elder care, health Care act, Financial Planning, enrollment, Affordable Health Care Act, coverage, coverages, medical expenses, unreimbured medical expenses, Medicaid penalties, Health Care Ruling, federal, Affordable Health Care, Obamacare, senior, medicaid qualification, health, care, disenrollment, proposed changes, care costs, applying for medicare

For Seniors Who Are Betting on Getting to 80

Posted by Massachusetts Estate Planning & Elder Law Attorney, Dennis B. Sullivan, Esq., CPA, LLM on Thu, Aug 28, 2014

Betting on Getting to 80 | Massachusetts Elder Care Attorney

 

outliving, eldercare, savings, estate, nursing home 

For Those Who Are Concerned About Outliving Their Money

According to research for our book The Seniors and Boomers Guide to Health Care Reform and Avoiding Nursing Home Poverty, outliving one’s life savings is a top concern for many people. One possible solution to this is what the US Treasury is pushing many baby boomers to do: start writing checks to their insurance companies for products that won’t be a financial benefit for them until they’re 80. The Treasuries new rules on annuities known as longevity insurance could allow millions of Americans fresh options for their retirement accounts and 401(k) plans. This is according to Bloomberg Personal Finance.

The challenge: convincing savers to choose that option. The annuities thrill retirement experts and policy makers who see them as a way to ensure workers don’t end up impoverished in old age. Just about everyone else ignores the products, which make up less than 1 percent of all annuity sales.

It can be a great investment too. With $125,000, a 60-year-old man can buy a policy from New York Life that guarantees an income of almost $45,000 a year starting at age 80. The same $125,000 in a regular retirement account would need to grow at the unlikely rate of 11 percent a year from age 60 to 80 to provide that income, assuming 4 percent is withdrawn annually after age 80.

Planning for the Future

Since women live longer than men, their longevity policies are more expensive, and more valuable. Millions of widows in their 80s and 90s end up living on Social Security alone. A 60-year-old woman who puts $125,000 into one of these annuities could get an annual payout of $35,268. For women with a husband and no children, a longevity benefit is a comforting buffer against long-term care costs.

Dollars in longevity policies go farther for those who buy earlier than 60 or start the benefit later than 80. If the insurance becomes common in retirement plans, the cost of policies should fall. To maximize her payout, Carson decided against buying inflation protection and a provision that refunds all the money she put in if she dies early.

Indeed, the oft-repeated big risk with longevity insurance is that buyers could die before they collect. But that chance is what allows the policies to be so lucrative for the long-lived. Those who die early help pay for those who live into their 90s and later. And even if you die at 75, the guarantee of income at 80 means you can tap the rest of your nest egg earlier without worrying so much about running out of money.

How It Works

For longevity insurance to catch on, it needs to gain a foothold in retirement plans. The Treasury rules let workers devote as much as 25 percent of their 401(k) to the products, up to $125,000. That doesn't mean employers will offer the option or that workers will choose it though.

Employers face legal liability for their retirement plan options, making them cautious about relatively unproven products. Insurance companies may need to come up with new kinds of longevity annuities that are more transparent and are geared more towards women since they tend to live longer.

Adding to the resistance is a widespread assumption that Americans don't want to lock up their cash in insurance products. They'd rather get big eventual lump sum payouts, even if they have no idea how to turn that into an income that will support them in their old age.

What the Experts Think

If longevity insurance takes off, it will be a real victory for the experts who have been striving to change that mindset. This may also provide a solution for many boomers and seniors for whom outliving their life savings is a major concern. For more information about these and other concerns see the report from the Seniors and Boomers’ Guide to Health Care Reform and Avoiding Nursing home Poverty.

Seniors, boomers, guide, poverty, nursing home,

Everyone would love 401(k) plans to look more like traditional pensions or Social Security, so savers can put less focus on the balance in their account rather than on the income it will eventually produce. That's an outlook your 100-year-old self may well appreciate.

At the Estate Planning & Asset Protection Law Center, we provide a unique education and counseling process which uses a unique 19 Point Trust, Estate and Asset Protection Review to help people and their families learn how to protect their home, spouse, life-savings, and legacy for their loved ones, click here for more information. We provide clients with a unique approach so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.

We encourage you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about what you can do to enhance the security of your spouse, home, life savings and legacy.

 Click Here to Register For Our Trust, Estate & Asset  Protection Workshop

Tags: Baby Boomers, Elder Law, Elder Law, assisted living, elder care journey, elder care, family, family, surviving spouse, annuity, insurance, senior, assets, care

Can Your Will Protect You When You Don't Die?

Posted by Massachusetts Estate Planning & Elder Law Attorney, Dennis B. Sullivan, Esq., CPA, LLM on Thu, Aug 07, 2014

 

What Happens When You Don’t Die?

medicare, medicaid, wills, spouse

 

Is your “I love you” will capable of protecting you or your spouse from long-term care costs?

You know the kinds of wills we’re talking about: The husband leaves everything to the wife, the wife leaves everything to the husband and after they both die, everything goes to the kids. This works well in situations where the spouses are healthy one day and are deceased the next. 

However, as most of us know, life usually doesn’t work that way very often. Research indicates that nearly 70% of individuals over 65 will require some kind of long-term care in their lifetimes.

Thus, many spouses worry that if they predecease an ill spouse who is currently in a nursing home or will require long-term care at some point in the near future, there will be insufficient funds available to provide for their institutionalized spouses’ needs. This is an especially relevant concern for expenses that are not covered under Medicaid such as: care managers, private nurses, single rooms, as well as certain therapies and drugs.

Another concern is that the availability of funds from “I love you” wills and trusts will disqualify the surviving ill spouse from eligibility for Medicare benefits. As you know from prior articles, Medicare (MassHealth in Massachusetts) is the only long-term-care governmental program in the United States and does not cover long-term custodial care.

To solve this problem many of our clients rely on a “testamentary trust”. This is a trust built into the will of each spouse. For many estate planners, this is counterintuitive because much of the estate planning occurs within the context of a revocable living trust. In order to preserve access to Medicaid eligibility without requiring that the surviving spouse spend down the assets and lose the chance to maintain a “rainy day fund”, creating a testamentary trust in the will of the pre-deceasing spouse is essential.

What this means is that around age 55, you have to completely revise your wills and trusts to accommodate a different paradigm of thought. The thinking process is no longer “What happens when I die?” Now the question becomes “What happens if I don’t die and live a long time with expensive long-term care?”

The new paradigm requires a new estate plan. If you consider yourself middle-class (meaning that your net worth will be significantly impacted by the cost of long-term care for you and/or your spouse) and are over age 55, we suggest that you revise and update your estate plan to reflect your current and future needs as soon as possible.

At the Estate Planning & Asset Protection Law Center, we help people and their families learn how to protect their home, spouse, life-savings, and legacy for their loved ones.  We provide clients with a unique educational and counseling approach so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.

We encourage you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about what you can do to enhance the security of your spouse, home, life savings and legacy.

 Click Here to Register For Our Trust, Estate & Asset  Protection Workshop

Tags: Alzheimer's Disease, asset protection, long term care, Medicaid, in-home care, in-home care, Estate Planning, Estate Planning, Elder Law, Elder Law, Attorney, Attorney, elder care journey, Health Care, living will, myths, surviving spouse, financial, will, income, Medicaid penalties, federal, Wills, in home, incapacity, Alzheimers Disease, alzheimer's activities, Alzheimer's, Alzheimer's, estate reduction, estate, long term care insurance, medicaid qualification, alzheimers, health, hospice, assets

Things You Need To Know About Hospital Admissions and Long term care

Posted by Massachusetts Estate Planning & Elder Law Attorney, Dennis B. Sullivan, Esq., CPA, LLM on Tue, Jul 29, 2014

 

Medicade Estate Planning Asset Protection

 

The Bad News: The Three Midnight “admission” Stay Requirement Can Destroy Medicare Coverage for Rehab (the cost could be from $8,000 to 10,000 a month)

 

Alas, notwithstanding all the controversy about the Three Midnight Stay Rule (That you must be on “Admitted” status not on “Observational” status) to qualify for the subsequent Medicare coverage, we still do not see any relief.

 

There is legislation pending to change this so that people are very clear as to when they are on admission status versus observation status, the latter of which does not qualify towards the Three Midnight Stay required by Medicare for coverage in a subsequent rehabilitation center. This has surprised, shocked and disappointed a large number of seniors. Don’t let it happen to you!

 

The Good News: The Old “Improved Standard” for Medicare Coverage is out and the new “Maintain Standard” is in!

 

As a result of the recent court decision in Jimmo v. Sibelius that was decided in 2013, Medicare clarified that maintenance coverage under the skilled nursing. Home health, skilled therapy and outpatient therapy benefit does not depend on whether the patient can improve. Eligibility for Medicare depends solely on whether skilled care is required and whether the actual services are reasonable and necessary.

 

This means that you no longer need to demonstrate that you will be improving every day during treatment. With chronic diseases such as MS, Parkinson’s and other health matters, improvement may not actually be possible. However, healthcare providers humanely try to help patients maintain and sometimes this maintenance is dependent on their skilled care. Now, as decided in the class action lawsuit mentioned above, you will qualify for Medicare.

 

Clients and patients should be made aware that they may request a review for all Medicare claims for skilled care or therapy denied before January 13, 2011.

At the Estate Planning & Asset Protection Law Center, we help people and their families learn how to protect their home, spouse, life-savings, and legacy for their loved ones.  We provide clients with a unique educational and counseling approach so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.

We encourage you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about what you can do to enhance the security of your spouse, home, life savings and legacy.

Click Here to Register For Our Trust, Estate & Asset  Protection Workshop

Tags: MassHealth, Estate Planning, Estate Planning, Elder Law, Elder Law, Massachusettes, elder care journey, elder care, Estate Planning Tip, 2014, Massachusetts, Estate Planning Recommendations

Mass Health and VA Aid and Attendance 2013 | MA Elder Law Attorney

Posted by Massachusetts Estate Planning & Elder Law Attorney, Dennis B. Sullivan, Esq., CPA, LLM on Fri, Jan 18, 2013

Every year brings change, sometimes small sometimes big.    Many of the government benefit programs that we work with frequently, such as MassHealth’s Medicaid program and the VA Aid and Attendance program, underwent slight changes as the clock turned to 2013. 

Medicaid and VA Aid and Attendance are needs based programs.  There are certain income and asset limitations.  These numbers typically are tied to the Social Security increases.  When Social Security benefits get a cost of living adjustment so do these other programs.  In 2013 the increase for Social Security is 1.7%.

Accordingly, under MassHealth’s Medicaid porgram, an applicant must spend down countable assets to less than $2000 in order to qualify.  However, in the case of a married couple, the healthy spouse can keep "countable assets" up to a certain dollar limit.  This year that number is $115,920.

VA rates also have increase in 2013.  A single veteran qualifying for Aid and Attendance benefits can now receive a maximum of $1732, an increase of $29 per month.  A married veteran who needs care can qualify for as much as $2053 per month of tax free income and the widowed spouse of a veteran can receive up to $1112.

For more information about  whether MassHealth’s Medicaid program or VA benefits may be available to you or your loved one call (800) 964-4295 (24/7) and register to attend one of our free, educational workshops.

At the Estate Planning & Asset Protection Law Center, we help people and their families learn how to protect their home, spouse, life-savings, and legacy for their loved ones.  We provide clients with a unique education and counseling approach so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.

Again, we encourage you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about what you can do to enhance the security of your spouse, home, life savings and legacy.

elder law, senior, family, estate planning, massachusetts, boston

Click Here to Register For Our Trust, Estate & Asset  Protection Workshop

Tags: asset protection, Medicaid, MassHealth, Elder Law, Attorney, elder care journey, seniors, veterans benefits, asset

Massachusetts Elder Law Attorney | Medicare Part B Premiums on the Rise

Posted by Massachusetts Estate Planning & Elder Law Attorney, Dennis B. Sullivan, Esq., CPA, LLM on Mon, Jan 14, 2013

Effective this month, the monthly premium for Medicare Part B (out patient services) has increased by 4.7%.  The new monthly premium will be $104.90 for most.  The increase amounts to about 25% of the Social Security cost-of-living adjustment.  It should be noted that those with higher incomes will see a greater increase in the Medicare Part B premium, based on a sliding scale.

It is also important to note that the Medicare Part B deductable has risen to $147 and the Medicare Part A (hospitalization) deductable has increased to $1,184.

The Medicare Rights Center, a non-profit organizat estimates that the average Medicare recipient spends about $4,500 per year out of pocket on health care.

At the Estate Planning & Asset Protection Law Center, we help people and their families learn how to protect their home, spouse, life-savings, and legacy for their loved ones.  We provide clients with a unique education and counseling approach so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.

We encourage you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about what you can do to enhance the security of your spouse, home, life savings and legacy.

 

 

describe the image

AS A LIMITED TIME SPECIAL OFFER You can access a free preview of this new guide. 

In the full version of the guide, which is currently in publishing, will be made available on Amazon and Barnes & Noble when it is completed. 

You will learn about health care reform and the steps that you can take now to protect your home, spouse, and family from increasing medical and nursing home costs.

Discover the secrets smart Massachusetts families are using to cut long-term care costs.

Tags: Medicare, Medicaid, Elder Law, Wellesley, Attorney, elder care journey, Health Care, seniors, elder care, senior

Massachusetts Elder Law Attorney | Safe Driver Program for Seniors

Posted by Massachusetts Estate Planning & Elder Law Attorney, Dennis B. Sullivan, Esq., CPA, LLM on Fri, Nov 30, 2012

seniors, safe driver, attorney, lawyerMany people have not read a driver license handbook since we were 16.  For some, that’s more than 50 years ago. 

It is time to remedy this problem – with a driving refresher or safety course. You or a loved one can do it by attending Safe Driving for Seniors, a safe driving program we are hosting in Wellesley on Wednesday, January 22 at 11:00 am.

The Safe Driver Program we are offering in association with AAA is designed to help senior drivers be safer while staying behind the wheel longer. The program is specifically for drivers 55 and older. It delivers tips and techniques to help experienced drivers compensate for changing vision, reflexes and response time; understand how prescription medications may affect driving; and drive defensively in a variety of situations.

Call our office at (781) 237-2815 to reserve your seat today!

Tags: Elder Law, Attorney, elder care journey, Health Care, seniors, elder care, family, safe driving, senior, senior drivers, senior driving

Massachusetts Medicare Lawyer | Original Medicare & Getting Prescripstion Drug Coverage

Posted by Massachusetts Estate Planning & Elder Law Attorney, Dennis B. Sullivan, Esq., CPA, LLM on Fri, Nov 23, 2012

health care, senior, family, elder law, attorneyDid you switch to Original Medicare during Medicare Open Enrollment Period? Maybe you’ve just become eligible for Medicare and have decided Original Medicare is right for you.

What about prescription drug coverage? In general, prescription drug coverage isn’t included in Original Medicare. And coverage isn’t automatic. For this reason, many people enroll in a Medicare Part D prescription drug plan.

When can I get coverage?

Standalone Medicare Part D prescription drug plans are offered through private insurance companies. They only help pay for prescription drugs. Not all plans cover all prescription drugs, so be sure to do your research. Before choosing a plan, check its drug list—called a formulary—to make sure your drugs will be covered.

To be eligible for Part D prescription drug coverage through Medicare, you must first be enrolled in Original Medicare. There are two main enrollment periods for Part D prescription drug plans:

  • Your Initial Enrollment Period (IEP) when you first become eligible for Medicare.

  • The Medicare Open Enrollment Period (OEP), October 15th – December 7th.

Note: If you dropped a Medicare Advantage plan to go back to Original Medicare, you can enroll in a Part D prescription drug plan from January 1st to February 14th each year. Some people may also qualify for a Special Enrollment Period. For example, if you are losing your current prescription drug coverage for some reason, you may qualify for a Special Enrollment Period.

Do I have to worry about Part D penalties?

You might have heard about Part D penalties. What are they, and will you have to pay them? If you are without prescription drug coverage for more than 63 days in a row after you first become eligible for Medicare, you may have to pay a penalty when you finally do sign up for Part D coverage. For each month after those 63 days that you don’t have coverage, you might have to pay another 1% (of the average Part D premium). This penalty is set by Medicare and you pay it on your premium. And you will pay that penalty for as long as you're enrolled in Medicare. So it’s definitely worth it to stay on top of your prescription drug coverage needs.

It’s not all bad news. Not everyone has to pay the Part D penalty. There are two easy ways to avoid it.

  • Mark your calendar. Enroll in a Medicare Part D prescription drug plan as soon as you are eligible. Whether you’re new to Medicare or just switched back to Original Medicare, timing is important.

  • Be the exception to the rule. If you have prescription drug coverage from a source other than Medicare—called creditable drug coverage—you might be able to avoid paying the Part D penalty. Creditable drug coverage might come from an employer, union or other non-Medicare source.

A few notes about creditable drug coverage: If you have prescription drug coverage from another source, get to know your benefits administrator. He or she can give you important information that can help you avoid the Part D penalty. This may include:

  • If you’ll still have prescription drug coverage when you become eligible for Medicare.

  • Whether or not your prescription drug coverage is considered creditable by Medicare.

  • What type of proof you need to give Medicare to show that you have creditable prescription drug coverage.

At the Estate Planning & Asset Protection Law Center, we help people and their families learn how to protect their home, spouse, life-savings, and legacy for their loved ones.  We provide clients with a unique educational and counseling approach so they understand where opportunities exist to eliminate problems now as they implement plans for a protected future.

We encourage you to attend one of our free educational workshops, call 800-964-4295 and register to learn more about what you can do to enhance the security of your spouse, home, life savings and legacy.

 

 estate planning, medicare, medicaid, massachusetts, health care

 

 

Tags: Medicaid, MassHealth, Elder Law, elder care journey, elder care, family, Nursing Home

Sign-Up Below To Receive Your Free Report

Follow Me

Browse by Tag



Follow DennisBSullivan on Twitter