Medicare prescription drug (Part D) plans can have a coverage gap—called the “donut hole”–which limits how much Medicare will pay for your drugs until you pay a certain amount out of pocket. Although the gap has gotten much smaller since Medicare Part D was introduced in 2006, there still may be a difference in what you […]
read moreIs increased funding for home care on the horizon? President Biden has introduced a plan to spend $400 billion over eight years on home and community-based care for the elderly and people with disabilities. The money would go to expand access to care and support higher-paying caregiving jobs. As the elderly population grows, our long-term […]
read moreFace masks and related purchases are tax deductible. The IRS has announced that the tax deduction for medical expenses includes amounts spent on face masks, sanitizer and other products purchased to prevent the spread of the coronavirus. If you have significant medical expenses, you may be able to deduct them from your taxes. Many types […]
read moreThe one-year deadline for nursing home and waiver residents on Medicaid to spend down their first round of stimulus checks is here, but they may have a little extra time. In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized $1,200 stimulus checks to most Americans, including Medicaid recipients. Another round of […]
read moreSpring clean your estate plan. Review your estate plan as part of your spring cleaning. Ensure that it is up-to-date to meet your needs and goals. You should review your estate plan team, beneficiaries, and team instructions. Here is a form for the Estate Plan Team Instruction Manual.
read moreThe $1.9 trillion American Rescue Plan Act (ARPA) delivers a broad swath of relief, covering families, employers, health care, education, and housing. The following are the provisions that most directly affect older Americans: Relief checks. The ARPA provides $1,400 direct payments to individuals earning up to $75,000 in annual income and couples with incomes up […]
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