SECURE Act 2.0
At the end of 2019 Congress passed the SECURE Act which contained a number of changes to retirement accounts that I detailed in several blog posts in 2020 and then again in 2021 and 2022 as follow up regulations addressed some unanswered questions. Congress continued to tinker with IRAs and
2023 VA Aid and Attendance Numbers
In this week’s post I will review the updated numbers for 2023 for the VA program that provides a benefit to wartime veterans and their spouses. Known as the VA Aid and Attendance program, this benefit provides a special pension to eligible applicants who need long term care. The maximum pension
2023 Medicaid Numbers
Last month in this blog I updated you on some of the new Social Security and Medicare numbers for 2023. The recently announced cost of living adjustment (COLA) of 8.7% has resulted in another big jump in benefits for the second year. Many other federal programs are tied to the
2023 Social Security COLA
Every year the relevant numbers for the government programs we work with change. It starts with the Social Security Administration, which announces its cost of living adjustment (COLA). Other government programs then adjust their numbers, sometimes using the same COLA as Social Security. For many years the adjustment has been small and there
Sunset Provision for Social Security and Medicare? – Part 2
In last week’s post I started to discuss clauses found in some laws that are called “sunset provisions”. They are essentially expiration dates for a law. We’ve seen them in estate tax laws. The current federal estate tax exemption is scheduled to “sunset” in 2025, unless Congress votes to extend. The key here is
New York Long Term Care Trust Act – Part 2
In last week’s post I wrote about a bill introduced in New York that we may eventually see in New Jersey. Modeled after a Washington state law, if passed it would mandate a payroll tax on all employees to cover an insurance policy that will provide coverage for their long term
New York Long Term Care Trust Act – Part 1
A bill introduced in the New York Senate may be something to pay attention to here in New Jersey. The law is titled the “New York Long Term Care Trust Act” and is modeled after a similar law passed in the State of Washington last year, although attempting to avoid that
2022 Medicaid Numbers
Last month in this blog I updated you on some of the new Social Security and Medicare numbers for 2022. With a cost of living adjustment (COLA) of 5.9% as a result of higher inflation, next year’s increase is the largest in some time. Many other federal programs are tied to the
Binding Arbitration and Admissions Agreements – Part 3
In this week’s final post of three I will finish telling you about a recent court case concerning a dispute over the terms of a long term care facility admissions agreement. Last week I delved into the specifics facts of that case - the relevant terms of the various documents and
Binding Arbitration and Admissions Agreements – Part 2
In last week’s post I wrote about a New Jersey Appellate Division case that was handed down a couple of weeks ago concerning an arbitration clause in an assisted living facility contract. I explained that there is a federal law that favors and encourages arbitration but there is also a New