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Medicaid Attacks Life Estates and Trusts Featured
Written by Vincent J. RussoNew York State has implemented new regulations effective September 8, 2011 that have “Expanded” Medicaid Estate Recovery.
In the past, New York State (NYS) was limited to recover against the estate of the Medicaid recipient as to assets passing under a Will or by intestacy (when there is no will). As a practical matter, generally, Medicaid recovery would occur when a Medicaid recipient retained ownership of his or her home while receiving Medicaid benefits. There are other restrictions on NYS as to Medicaid estate recovery which is not covered in this article.
Misplaced Priorities (The Deficit Reduction Act of 2005) Featured
Written by Vincent J. RussoThe Deficit Reduction Act of 2005 (DRA) is not part of a natural evolution of the Medicaid program that was created along with Medicare and the Older Americans Act in 1965 in order to prevent the elderly from living their final years in poverty. Instead, the DRA is an unnatural partisan product of those determined to scare boomers and their parents into purchasing long-term care insurance. It contains the most regressive and punitive changes to the Medicaid program since its creation. These new rules will hurt seniors, the nursing home industry, and may or may not drive boomers to purchase long-term care insurance out of fear from what their parents are about to experience. That remains to be seen. And certainly the ethical question of denying care to chronically ill older Americans and people with disabilities in order to strengthen the demand for a private sector product must be evaluated by policy makers and the American people in the years ahead.
Do You Have the Right Power Of Attorney? Featured
Written by Vincent J. RussoMany seniors have Powers of Attorney, but do you have the right one? This is a very important question because no one has the right to make financial decisions for you, unless you have legally appointed a person with the authority to act for you. The best way to give that legal authority is by executing a Comprehensive Durable Power of Attorney.
Newsday: Cutting Medicaid to curb debt won't be easy
Written by Vincent J. RussoElder Abuse - Don't Be a Victim, Be Victorious: Warning Signs & Resources
Written by Vincent J. RussoWhen one thinks of abuse, you envision one person physically hurting another, like we hear all too often in domestic violence situations. Unfortunately, abuse comes in many forms: physical, financial, medical and emotional and all too often, the signs of abuse are overlooked or ignored. In general, we also tend to think of those abused in terms of “groups” – young or middle-aged Americans – however it has been reported that older women (67 percent) are far more likely than men (32 percent) to be victims of abuse and a little more than half (53 percent) of the abusers are female. Elder abuse and neglect is a reality for far too many of our seniors today. It is our responsibility as a society to recognize the warning signs, to intervene and to help educate others about how to report and reduce the incidence of this crime.
Should you give away your nest egg to your heirs – and then stick Medicaid with your nursing-home tab when the time comes? Outrageous though it might seem, it is a perfectly legal estate-planning strategy.
John: I do not understand why I need to make things so complicated. If anything should happen to me, my wife of 40 years, Sally, will take care of me. She knows what is best for me.
Ten Tips for Talking to Your Aging Parents
Sitting down with your parents to discuss legal, financial, and long-term care issues can be uncomfortable. Adult children often do not know much about their parents’ financial situation, whether they have enough money to live on, or to pay for the care they would want. Often, families have not had discussions about how they view the end of their lives, and what preparations they have made.
Are you in need of home care services but are afraid to get the necessary care because of cost! Are you aware that you may be able to access the Medicaid Community Based Home Care Program (Medicaid Home Care) for these services?
Rite Aid Giving Care for Parents: Vincent J. Russo Interview
Written by Vincent J. RussoRite Aid Giving Care for Parents featuring elder Law Attorney Vincent J. Russo and elder care expert and Geriatric Care Manager
Dr. Marion Somers, PhD.
Medicaid & The State Budget - Looking Ahead
Written by Vincent J. Russo1. Mr. Russo, as an elder law attorney can you to tell me what is the number one concern of seniors today?
Vincent J Russo: Seniors are most concerned about being impoverished if they need long term care and have to spend down all of their assets to pay for it. Medicaid is the only government program available to seniors to pay for long term care, but there are strict financial eligibility requirements.
2. Who pays for New York’s Medicaid bills?