Elder Law Newsletters

Available Resource Requirements for a Single Person

Medicaid will pay for medically necessary care in skilled or intermediate care nursing homes. Medicaid is jointly funded by the federal and state governments, and individual states have their own methodologies for administering their Medicaid programs.

Insurance - Long-Term Care - Considerations in Evaluating

Long-term care insurance can provide valuable monetary help to those needing long-term care, typically the elderly. Whether to buy such insurance is a decision personal to each individual. However, there are many general considerations that should be taken into account when determining whether the purchase of long-term care insurance is wise.

Insurance - Long-Term Care - Features - Coverage, Benefits, and Related Issues

After a decision to purchase long-term case insurance has been made, a savvy consumer will closely compare policies to determine which, also taking cost into consideration, best fits his or her needs. Policies have many different features relating to the definition of long-term care; the amount and type of benefits and benefit periods; and exclusions. Additionally, some policies provide for death benefits.

Insurance - Long-Term Care - Overview

As America's baby boomers age, more insurance companies are offering long-term care insurance, which is designed to cover the costs of long-term care, an unfortunate reality for many members of the elderly population. In fact, depending upon the study, somewhere around 50 percent of the American population will require long-term care at some point in their lives.

OVERVIEW OF ANNUITIES

Although they do not fit within the strict definition of insurance, annuity policies are now widely viewed as a form of insurance. However, the insurance aspect of an annuity basically goes to the fact that the annuitant will receive a guaranteed income payment (usually for the rest of his or her life). Annuities were not regarded as insurance at common law, but commercially issued annuity policies are now largely regulated by state insurance statutes. Some types of annuities such as variable annuities are securities that are regulated by the Securities Exchange Commission. Fixed annuities are not securities and are not regulated as such.