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.
Even though it is a very common situation that many people face, there is no formula for deciding when it is the right time to place a parent in a nursing home. While you may be able to find guidance from friends or online sources, ultimately, the decision will rest on the specific circumstances of the parent and the rest of the family.
Many individuals that have worked hard their entire lives may be under the assumption that there isn't any way of receiving Medicaid benefits while leaving their savings and assets intact. In fact, many seniors believe that their assets must be completely diminished before receiving Medicaid benefits. This assumption is not only inaccurate but can be disastrous for seniors hoping for worry-free golden years. Fortunately, by working with an experienced elder law attorney, aging seniors can take the steps they need to preserve their assets and still receive valuable Medicaid benefits.