2016 VA and Medicaid – Changes and Trends #2016VA #2016 Medicaid
This week I thought I would discuss some changes and trends that are - and in the future may - make it more difficult to qualify for two programs that provide critical benefits to pay for long term care, the VA’s Aid and Attendance and New Jersey’s Medicaid program. A year ago I told you that the VA had proposed new regulations that would severely restrict the ability of wartime veterans and their spouses to qualify for a pension that can provide as much as $2120 a month that can help cover long term care costs (See Blog Post 2-9-15). The biggest change that has been proposed is the imposition of a 3 year look back which would work similar to Medicaid’s 5 year look back. Whereas now, with proper planning and restructuring of assets, an applicant with assets in excess of the VA’s asset limit of approximately $80,000 can immediately qualify for benefits, a 3 year look back would act as a 3 year waiting period for those same benefits. Rumors circulated for months that these changes would occur in February, 2016. Now word is that these changes could be coming in March, 2016. For anyone with assets
What Happens to Social Security Benefits after Death (Part 2) #SocialSecuritySurvivorBenefits
A few weeks ago (1-11-16 post) I was discussing what happens to Social Security benefits when someone dies. Specifically I am talking about the entitlements of a surviving spouse. These benefits are commonly referred to as survivor benefits. Other family members, such as disabled children (provided the disability began before age 22), may be entitled to survivor benefits but this post will focus on the surviving spouse. Generally, the surviving spouse is entitled to 100% of the deceased spouse’s Social Security benefit provided it is greater than his/her own benefit. In other words, the surviving spouse will receive either his/her own benefit or the deceased spouse’s benefit, whichever is greater, but not both. The surviving spouse will also receive a one-time death benefit payment of $255. Additionally, the surviving spouse must be age 60 or older or 50 or older provided he/she is disabled from a disability that began no later than 7 years after the deceased spouse’s death. The surviving spouse must also have been married to the deceased spouse at least 9 months and is not currently remarried where the marriage occurred before he/she turned age 60. An ex-spouse may also collect survivor benefits under certain circumstances. The
Noticing Changes in Elderly Family Members (Part 2)
Two weeks ago (1/4/16 post) I was pointing out that while the holiday season is a time when we reconnect with family who we may not have seen for some time, health and behavior changes in the elderly may also become more noticeable. So what can or should you be doing? A physical and neurological exam should identify any medical issues. A Geriatric Care Manager (GCM) can help assess the options available that will allow your loved one to continue to live a full, fruitful and safe life. Suggestions may include a home health aide, adult day care, and personal organizer to help with money management. If your loved one can no longer live alone, possible alternative living arrangements include another family member’s home, assisted living, senior housing or nursing home. Each choice has pros and cons and expense is often an issue. Planning should be done as early as possible to determine what government benefits can be tapped to help pay the cost, such as Medicare, Medicaid and Veteran’s benefits. Because the family is together once again, the holidays are a good time to begin discussing these difficult decisions. For example, if one child lives nearby an aging parent and sees
What Happens to Social Security Benefits After Death #SocialSecurityBenefits
It’s a common question we get all the time. How do I handle Social Security since Dad has died? The Social Security Administration must be notified as soon as possible when a recipient dies. Usually notification is handled by the funeral director, however, if the funeral home doesn’t provide this service then the surviving spouse or other family member must contact Social Security. It cannot be done online but you can make a phone call to your local Social Security office or to 1-800-772-1213. Any benefits received for the month of death or any months after that must be returned. For example, if Dad died in January you must return the benefits paid in January and after. If benefits are paid by direct deposit you will need to contact your bank and request that any funds received for the month of death or later be returned to Social Security. If the benefits are paid by check then do not deposit the checks but return them to Social Security as soon as possible. Next month we’ll address the question of how much Mom will receive in survivor benefits after Dad's death.
Noticing Changes in Elderly Family Members
The holiday season is a time to connect or reconnect with family. We might visit with parents or other family members that we haven’t seen in some time and that’s when changes in their health become more noticeable such as: Weight loss Deterioration in personal hygiene Unusually dirty or messy home Unusually loud or quiet, paranoid or agitated behavior Local friends and relatives noticing changes in behavior Self-imposed isolation, stops attending activities Signs of forgetfulness such as unopened mail, piling newspapers, missed appointments, unfilled prescriptions Signs of poorly managed finances, such as not paying bills, losing money, paying bills twice Unusual purchases Then once the new year begins we go back to our daily routines. But, what can or should you do if you see any of these changes? There’s a lot actually that you can do. Next week we’ll go over some of the options available to you.
New Medicaid and VA Figures for 2016 #2016Medicaidnumbers
Each year, many of the programs that, as elder law attorneys, we deal with daily, such as VA Aid and Attendance and Medicaid, are adjusted for inflation through a cost of living adjustment. For 2016, the Social Security Administration announced that Social Security recipients will receive no increase, the third time this has occurred in the past decade. Because Medicaid and the VA Aid and Attendance program adjustments are tied to the same percentage increase, this means that those benefits will also have no cost of inflation adjustment. Here are the numbers you need to know for 2016. The Medicaid income cap will remain at $2199 per month. This number is the limit on income per month needed to qualify for most Medicaid programs. For Medicaid recipients whose income exceeds this limit a Qualified Income Trust (commonly known as a Miller Trust) must be used to achieve and maintain eligibility. The Community Spouse Resource Allowance (CSRA) will remain at $119,220. That is the maximum amount a healthy spouse may keep in countable assets (provided the married couple have at least that amount times 2 at the time the “snapshot of assets” is taken). The minimum CSRA is $23,844, meaning