Medicaid Planning For Nursing Home And Home Health Care Expenses

There's a lot of misunderstanding when it comes to qualifying for Medicaid in New York. A number of aging individuals may be confused as to what assets they are allowed to own and still qualify for Medicaid, since, for example, many have mistakenly been informed that...

Unfortunately, New York residents who have spent their whole lives saving for retirement are likely to have overlooked one key aspect, but it's one that could make all the difference: planning and saving for the ever-increasing cost of long-term care. While most will...

While many New York residents have spent their careers carefully saving for retirement, far fewer have given such careful thought to planning for their long-term health care needs. This is unfortunate, given the rising cost of such medical care and the high likelihood...

Many aging residents of New York believe that, after the age of 65, they will be able to rely on Medicare for their health care and assisted living needs. One issue that most people are unaware of, though, is that of something called "custodial care." Custodial care...

As most adult children with aging parents in New York can likely attest, caring for a beloved elderly relative may sometimes feel like the equivalent of a full-time job. Of course, it's a job most loving family members are more than happy to do, but it can be a bit...

Often, as individuals age, the responsibility for their care falls to family members. In fact, there are approximately 44 million unpaid family caregivers in the U.S., and residents of New York are no exception to these statistics. The downside of this is that,...

A substantial portion of the elderly population in the U.S. ends up relying on nursing homes for care in their later years. For this considerable expense, aging residents of New York may be counting on Medicaid to help with the cost of necessary healthcare and nursing...

While Medicare and Medicaid may sound similar, the two government programs are very different. For elderly residents of New York, Medicaid is a needs-based program intended to act as a safety net when they cannot afford to pay for their necessary health care or...

Every year across America, more than 43 million people act as unpaid caregivers for a family member, usually an aging parent; residents of New York are no exception. Sometimes, this is as simple as an adult child overseeing issues like finances and medical care. Other...

The average annual cost of a nursing home is $180,000. No matter how much they have saved, few New York families have the means to pay this price, especially if the stay is expected to last several years or more. At this point, many people believe they can turn to...