In Colorado and all states, long term nursing care and similar or related services for senior citizens are not covered by Medicare. Instead, for those who can't afford such care, including residence in a nursing home, they must qualify for Medicaid to receive benefits. Medicaid planning through an elder law attorney may be required well before the need for those benefits arises.
Most Colorado residents work hard to make sure that their family's future is protected. They invest in retirement accounts, purchase life insurance and carefully establish an estate plan. Yet, all of this can be at risk if the individual requires nursing home care and the proper Medicaid planning has not been put into place.
Dreams of traveling the world or spending time with the grandchildren often drive one to save for the future and build wealth for retirement. After years of planning and preparing, the Colorado resident is finally able to reap the rewards of hard work and dedication. These plans can be altered though as one begins to require long-term care. In fact, without proper Medicaid planning, it is possible that one's assets will limit his or her ability to receive Medicaid benefits for nursing home care if it becomes necessary.
Thousands of Americans miss Medicare enrollment deadlines, assuming that they are already covered under insurance purchased in Affordable Care Act’s marketplaces. The consequences of that assumption run the risk of a lifetime of penalties.
When you are preparing your long-term health care plan in Colorado, the Medicaid look back period may present an obstacle. While some people never need to worry about it, there are many that do. We at Vincent, Romeo and Rodriguez want you to be ready for anything so we make sure to educate our clients about this confusing topic.
As a resident of Colorado with aging relatives to care for, you may eventually comes to the decision that it's time for them to get fuller and more comprehensive care at an assisted living facility or a nursing home. We at Vincent, Romeo & Rodriguez, LLC., will help you manage your options in an affordable way.
If you are receiving or are about to start receiving Medicare, you are likely aware of its many benefits. Medicare's aim is to help provide eligible recipients with affordable healthcare, which becomes even more important as we get older. And there are some measures you can take that will allow you to take full advantage of all that Medicare has to offer.
If you are approaching or have reached retirement age, you have a number of financial matters with which to contend. One of the most pressing issues that you will likely face involves both your bank account and your personal health. The fact is, as we age we are likely to need more and more medical care. As you are no doubt aware, almost every aspect of medical treatment is expensive.
Once you reach the age of 65, you become eligible to receive the benefits offered by Medicare. Medicare allows you to purchase insurance at a lower cost and even if you have preexisting conditions, you still cannot be denied coverage. So all in all, Medicare is a very good deal and can be a key element of your retirement plan.
Once you reach the age of 65, you have the opportunity to take advantage of the benefits provided by Medicare. Millions of Americans depend on these benefits for their critical medical needs. But because there are so many options available, trying to tailor your Medicare program to suit your personal needs can be difficult.