If you’ve found your way to our blog, then you’re likely worried about covering your long-term care needs. That’s understandable, given the skyrocketing rates associated with nursing home and other forms of long-term care. Figuring out the best way to cover those...
MassHealth
Protect your assets from estate recovery under MassHealth
Many elderly people who need long-term care are concerned about the cost. When they are approved for MassHealth – the state version of Medicaid – it is a relief. However, receiving MassHealth coverage does not fully protect their property after they are gone....
What is an HCBS waiver under MassHealth?
Caring for an elderly and infirm loved one in Massachusetts can be draining personally and financially. People who have conditions, illnesses or are simply becoming too frail to live on their own will often need help to ensure they are properly taken care of. To...
MassHealth planning and the look-back period
Long-term care is enormously expensive. MassHealth can help you pay for it, but only if you meet the financial eligibility requirements to qualify for the program. To do so means having a low income and limited resources. This situation puts many Massachusetts...
Understanding the differences between Medicare, Medicaid and MassHealth
Medicare, Medicaid and MassHealth are all extremely important programs that can help Massachusetts residents with their medical needs. It's common to hear their names tossed around in the same conversation, and it can be easy to get them confused with each other...
Don’t make these mistakes when engaging in Medicaid planning
Medical expenses can quickly become overwhelming. If you end up needing long-term care, which is a very real possibility, then your assets can be quickly gobbled up. The good news is that there are strategies that you can implement to protect your assets and your...
Massachusetts residents need to prepare for MassHealth changes
MassHealth coverage is vital for many people. The elderly are among them and with substantive changes happening with the eligibility requirements, people need to be aware of their options if they had coverage and were dropped or are seeking coverage and do not know if...
What are the asset rules when applying for MassHealth?
As Massachusetts residents age, they might need to consider their options for long-term care. MassHealth is in place for these contingencies, but not everyone is eligible for the program. One concern is meeting the asset rules to be eligible under MassHealth. The...
MassHealth and personal-care attendants
Paying for health care is a major worry for people of all ages throughout Massachusetts. For those who might need more intensive care because of age, illness or infirmity, the dread as to what will happen with their finances, their property and wondering if they are...
Taxes and MassHealth planning
In order to qualify for MassHealth, many Massachusetts residents must transfer assets to a spouse or other relative, or put them in trust. This takes careful planning. If some of these assets are held in tax-deferred accounts, a large transfer of this kind can trigger...