Posts Categorized: Elder Law

Russo Law Group wants to do our part to offer resources, guidance, and help to those who need it. Below are some of our weekly activities you can participate in. Daily Check-in with Vincent Please join Vincent every day at 10 a.m. EST on Facebook, Instagram, and LinkedIn for my quick “Daily Check-in with Vincent.”… Read More »

  Essential COVID-19 FACEBOOK LIVE Event Hosted by Vincent J. Russo In Case You Missed It: COVID-19: How Can the Paycheck Protection Program (PPP) Help Me? Vincent hosted a Facebook Live Event on Wednesday, April 8th to answer any questions you may have as COVID-19 continues to affect our lives and the lives of our… Read More »

  Essential COVID-19 FACEBOOK LIVE Event Hosted by Vincent J. Russo COVID-19: What You Need to Know and Do to Protect Your Family Vincent hosted a Facebook Live Event on Tuesday, March 31st to answer any questions you may have as COVID-19 continues to affect our lives and the lives of our loved ones. During… Read More »

As the managing partner of Russo Law Group, I am writing to you today because we take the health and well-being of the people who make up our beloved Long Island community very personally. We are saddened and concerned by what is currently happening within our community due to the Coronavirus (COVID-19), and we want… Read More »

2020 PENSION BENEFIT FIGURES WARTIME VETERAN REVISED JANUARY 1, 2020 TYPE OF BENEFIT Maximum Annual Pension Rate (Income Limit) Monthly Maximum Annual Pension Rate (Income Limit) Service Pension $13,752 $1,146 One dependent $18,008 $1,501 Housebound $16,805 $1,400 One dependent $21,063 $1,755 Aid and Attendance $22,939 $1,912 One dependent $27,195 $2,266 Each add’l dependent child $2,351… Read More »

MEDICAID 2020 UPDATE COMMENCING JANUARY 1ST, THERE ARE NEW MEDICAID AMOUNTS AFFECTING MEDICAID ELIGIBILITY. 2020 ASSET AND INCOME ALLOWANCES One Person Two Person Income Level *including $20 unearned income disregard $895 $1,304 Medicaid Resource Level $15,750 $23,100 2020 Medicaid Transfer Rates for Nursing Home Care Monthly Rates Nassau and Suffolk Counties $13,407 New York City… Read More »

SOCIAL SECURITY 2020 UPDATE SSI FOR NYS RESIDENTS Individual $870/month Couple $1,279/month MAXIMUM TAXABLE EARNINGS Social Security (OASDI only) $137,700 QUARTER OF COVERAGE Earnings Required $1,410/quarter SOCIAL SECURITY DISABILITY THRESHOLD Substantial Gainful Activity (SGA)   Non-Blind $1,260 Blind $2,110 Trial Work Period (TWP) $910/month COST-OF-LIVNG ADJUSTMENT (COLA) For December (payable in January 2020) 1.6% MAXIMUM… Read More »

MEDICARE 2020 FIGURES MEDICARE PART A: HOSPITAL SERVICES Inpatient hospital deductible $1,408/illness Daily co-insurance $0/day 1-60 $352/day 61-90 $704/day 91-150 Skilled Nursing Facility (SNF) Daily co-insurance amount $0/day 1 – 20 $176/day 21 – 100 Part A Premiums For those not otherwise entitled to Part A Benefits who purchase Medicare coverage Medicare Covered Employment –… Read More »

The “Setting Every Community Up for Retirement Enhancement Act” (the SECURE Act) is part of the spending bill legislation passed by Congress, which is now awaiting the President’s signature, effective January 1, 2020.   The SECURE Act significantly changes the Required Minimum Distribution (“RMD”) requirements for inherited retirement accounts by delaying the required beginning age…. Read More »