Medicare Part A / B Savings Program

Medicare-Card

 

 

 

 

 

 

Most Medicare beneficiaries pay $0 for the Part A hospitalization benefits if they or their spouse paid Medicare taxes while they worked.

For Part B medical insurance, most people pay the standard $104.90 monthly premium.

helpFor New York State residents meeting certain conditions, a Medicare Savings Program may help pay the Medicare Part A and Medicare Part B premiums, deductibles, coinsurance and copayments.

 

Together with the EPIC Prescription Drug Program,  this New York State Medicare Assistance program can help seniors with the cost of healthcare.  I am available to assist with education and enrollment (518) 346-2115.

Important Links:

red_arrow Download 2014 NY State Medicare Part B assistance Form

red_arrow Visit New York State Department of Health

red_arrow Visit Medicare.gov

Using Annuities in Medicaid Long-Term Care Planning

Annuities, long-term care insurance or a hybrid life insurance / LTC rider are better options than trying to go-it-alone.

Guide to long term care blog

Medicaid applicants with too much money or assets are denied coverage for long-term care and have to pay their own nursing home bills. For many, their savings would be depleted within months, leaving the Medicaid applicant’s spouse destitute. Annuities can magically wipe away these excess resources that are preventing Medicaid eligibility and replace them with a monthly check, payable to the applicant’s spouse (referred to as the “community spouse”).

Sound too good to be true? It’s not, and when done properly, this technique can preserve a large portion of a couple’s resources to provide for the community spouse, who may live for many years, and possibly, the couple’s heirs.

Read complete article here: http://www.nolo.com/legal-encyclopedia/using-annuities-medicaid-long-term-care-planning.htm

For annuity quotes: http://guidetolongtermcare.com/forms/quote.html 
(some annuities offer LTC benefits that pay out more than the annuity value)

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