Social Security 2022 Update SOCIAL SECURITY 2022 UPDATE SSI FOR NYS RESIDENTS Individual $928/month Couple $1,365/month MAXIMUM TAXABLE EARNINGS Social Security (OASDI only)$147,000 QUARTER OF COVERAGE Earnings Required$1,510/quarter SOCIAL SECURITY DISABILITY THRESHOLD Substantial Gainful Activity (SGA) Non-Blind $1,350 Blind…
Change is coming…Now what? Durable Power-of-Attorney (DPOA) laws are changing effective June 13, 2021, but what do those changes mean for you? Just as a refresher, a DPOA will enable the attorney-in-fact to make financial decisions on your behalf if…
Unfortunately, heirs may not always be content with the assets or amount of money left to them in a Will or Trust. Once the Testator or Grantor passes away, there is not much they can do to prevent their heirs…
We have all heard those stories where we stop and say, wait, but he was a runner and took great care of himself. He was only 52. She was only 55. If there is one thing that we have learned…
When we think of May, our minds often turn to Mother’s Day and the start of summer, but did you know that May is also recognized as National Elder Law Month? National Elder Law Month got its start in 1963…
Long-term care costs in our area are very high. And, in some respects has increased dramatically in 2020. The rise in the cost of care was due in part to increased costs caused by the COVID-19 pandemic. For example, in…
What is “Elder law”? According to Wikipedia, it is “an area of legal practice that specializes on issues that affect the aging population”. It goes on further to identify three major categories that make up elder law: Estate planning and…
MEDICAID 2021 UPDATE COMMENCING JANUARY 1ST, THERE ARE NEW MEDICAID AMOUNTS AFFECTING MEDICAID ELIGIBILITY. 2021 ASSET AND INCOME ALLOWANCES One Person Two Person Income Level *including $20 unearned income disregard $904 $1,320 Medicaid Resource Level $15,900 $23,400 2021…
2021 PENSION BENEFIT FIGURES WARTIME VETERAN REVISED DECEMBER 15, 2020 TYPE OF BENEFIT Maximum Annual Pension Rate (Income Limit) Monthly Maximum Annual Pension Rate (Income Limit) Service Pension $13,931 $1,161 One dependent $18,243 $1,520 Housebound $17,024 $1,419 One dependent…
MEDICARE 2021 FIGURES MEDICARE PART A: HOSPITAL SERVICES Inpatient hospital deductible $1,484/illness Daily co-insurance $0/day 1-60 $371/day 61-90 $742/day 91-150 Skilled Nursing Facility (SNF) Daily co-insurance amount $0/day 1 - 20 $185.50/day 21 - 100 Part A Premiums For…