Medicare vs. Medicaid – Law Office of Angela Odensky
Recently I received a phone call from a concerned daughter whose 94-year-old mother had just moved to assisted living. A well-intentioned friend had convinced her that she needed to contact an elder law attorney to talk about “Medicare Estate Recovery.” The well-meaning friends had convinced the daughter that Medicare would seek reimbursement for expenses paid by the program. It wasn’t just that the friend had mixed up the names of the programs; the friend had mixed up the programs themselves. As I told her, there is no such thing as Medicare Estate Recovery; what the well-intentioned friend was referencing is Medicaid Estate Recovery, which is the subject of a different article. The daughter’s mom was in assisted living being paid for by the proceeds of her house sale, and at 94 she was doing just fine. I assured the daughter that because the State of Texas had not spent any resources on her mom’s care, the state would not have anything to recover. I often get calls where people have confused Medicare and Medicaid, and I’ve seen the same kinds of mistakes from other attorneys who do not practice in this area. The names are remarkably similar, but the programs are different in every way except that they are both government health programs. First, Medicare is like private health insurance and is administered by the Social Security Administration. It is an entitlement, meaning that if you paid into the system over your years of employment, you are entitled to receive the benefit. You pay a premium based on certain individual factors, and you get coverage. You can receive additional coverage through supplemental plans as well if you choose to purchase them. There are rules about what Medicare will and will not cover and healthcare providers who either accept Medicare or do not. Every citizen is eligible at 65, younger if they have a disability determined by the Social Security Administration, and there are no income or asset requirements. A 65-year-old billionaire has just as much right to access Medicare as a 65-year-old living on a fixed income. Medicaid is a different animal all together. The Medicaid program is operated as a partnership by the federal and state governments. Medicaid is funded by both federal and state money, but the program is administered by each state, meaning that every state’s Medicaid program is different from every other state’s Medicaid program. Medicaid offers a variety of different programs, some are means-tested, meaning income and assets are reviewed to determine qualification, some are not. Medicaid may be to persons who are blind, disabled, or elderly, as well as families, children, and pregnant women who meet the financial requirements. The bottom line is that Medicare is a medical insurance benefit that is earned by those who have worked to pay into the system; Medicaid is a group of needs-based programs that help specific people who qualify.
Death of an icon:the Stan Lee story – Law Office of Angela Odensky
The death of Stan Lee, the famous cartoonist and Marvel publisher, is a tale with a dark end. For the last decade of his life, various advisors inserted themselves into Lee’s life and wreaked havoc on his financial fortune; a fortune that was whittled away because, while he had an estate plan in place as well trusts and designated powers of attorney, his selected agents took advantage of him. The life, death, and estate of Lee highlights the importance of an estate plan as well as carefully choosing the right people to help protect you. A Cast of Characters Much like Lee’s famous comic book characters, there were people surrounding him who had both good and seemingly evil intentions. Unfortunately, the less savory of the lot seemed to dominate and these people were placed in positions to take advantage of the American hero. Most recently, Lee’s trusted business manager and long-time friend was charged with five counts of elder abuse, reportedly stealing millions. Charges included theft, embezzlement, forgery, fraud, and false imprisonment. Serving as assistant and caretaker, he infiltrated Lee’s everyday life and assumed control of daily decisions including business and financial affairs, even establishing himself as Lee’s media contact. As gatekeeper, he limited access to family and friends effectively isolating Lee at the end of his life. He even moved Lee from his residence to a condominium to further instill control. But, this transgression from a trusted confidante is only one betrayal in the decline of Lee’s estate estimated valued upwards of $70 million. Additionally, there were a number of people who sought to take advantage of this elderly American icon including a security guard who was hired to coordinate Lee’s Comic Con schedule and provide protection. He ultimately was accused of bilking the estate $8 million in cash and memorabilia. And, Lee’s “senior advisor”, a man who had a lengthy record of liens and tax evasion, bought millions of dollars of real estate in Lee’s name, forging documents, and stealing property and money from Lee’s retirement account. Lastly, Lee’s own daughter has been implicated in wild spending sprees and inappropriate behavior. The Benefits of Planning Ahead No matter the size of estate, the goal should always be to preserve and distribute it upon your death in the manner you desire. It should also seek to provide protection during your life. Had Lee’s existing estate plan been protected by trusted advisors, his estate would have been better secured against the nefarious cast of characters who sought to cheat and steal from him. While this is an extreme example, even small estates can fall victim when there is no estate planning, insufficient planning, or appointed advisors who don’t have the wellbeing of the estate in mind. A good estate planning attorney can protect your estate for your heirs while overseeing fair division of property and safeguarding assets both upon your death as well as during any physical or mental incapacitation. They can advise you to choose someone to manage your affairs and give you options to help protect against exploitation. Contact Angela Odensky with your estate planning questions today at info@odenskylaw.com or (713) 344-0730
6 Ideas You Can Use Right Now to Help Older Adults in Your Life
Each of us knows that caring for the older adults in our lives is not just about spending time with them; it is about taking actionable steps to improve their quality of life. What do they need to live their best lives at their age, be able to safely age-in-place, and to age with dignity? Each day we answer questions just like these with our clients, colleagues, and friends in the community. In addition, during National Older Americans Month, let us share six practical ways you can make a significant difference right now. 1. Ask honestly about what they need. Start by asking the older adults in your life exactly what they need help with. This could be anything from understanding a new medical diagnosis, managing daily chores, or even navigating legal issues like estate planning. By asking directly, you can be sure you are providing the support that is truly needed. 2. Accompany them to medical appointments. While it may seem like a small task to you, attending doctor’s appointments with older adults can help them better understand their health conditions and treatment options. This is especially crucial when they receive a new diagnosis which might be overwhelming to comprehend on their own. Adding a listening ear can make such a difference. 3. Offer assistance with grocery shopping and errands. Mobility issues or cognitive impairments can make routine outings challenging for aging loved ones. Offering to help with grocery shopping or running errands can significantly alleviate their daily stresses and contribute to their independence as well as ability to age-in-place. 4. Help organize their financial affairs. Financial management can become increasingly difficult with age. You can assist by helping them organize their financial documents, understand their expenses, and plan for future needs. This oversight can provide both of you with peace of mind, especially as long-term care needs increase. 5. Ensure their home is safe and accessible. Work with the aging adults in your life to modify their living environment to make it safer and more accessible. This might involve installing grab bars in the bathroom, installing good lighting, and removing trip hazards to prevent falls. 6. Connect them with the right estate planning attorney. Estate planning is crucial to ensure that their wishes are honored. Help them find an estate planning attorney who understands their unique needs and can offer personalized advice. A good attorney can make certain that their estate is in order, from drafting a will to setting up healthcare directives and powers of attorney. Each of these steps offers a meaningful way to improve the quality of life for older adults, showing them that they are valued and cared for. Remember, the best approach is always to listen first so you can understand their needs directly from them, and then act. If you or your loved ones need professional guidance, especially concerning legal matters such as estate planning, do not put off consulting with a specialized attorney who can provide tailored advice suited to your unique situation. Feel free to contact our office. We are dedicated to providing expert guidance tailored to meet the specific needs of older adults and their families. We are prepared to help you navigate these complex issues with empathy and expertise. We aim to help you feel secure about these things with good estate and long-term care planning. Get in touch with us to chat more about this!
You Are Not Alone When It Comes to Navigating Nursing Home Planning
We know choosing the right nursing home for yourself or a loved one can be a daunting task, but you do not have to face it alone. An experienced elder law attorney can be an invaluable ally in navigating this complex journey. Your attorney will bring not only their expertise in legal matters but also a compassionate understanding of the emotional challenges that accompany such decisions. Their role is to ensure that you feel supported and informed at every step, from selecting the right facility to meet care needs to figuring out how to finance it. Let us share with you just a few ways an elder law attorney can help simplify the process and provide peace of mind during what can often be a difficult time. The first step in long-term care planning is understanding the specific care needs involved. Elder law attorneys are well-versed in assessing these needs and helping you understand the level of care you or an aging loved one may need. Whether round-the-clock care, specialized medical attention, or more independent living options are needed, your attorney can help guide you to the right facilities that meet these needs. Paying for long-term care is often one of the biggest concerns for families. Elder law attorneys are equipped to help you explore all available options to finance this care including, but not limited to, the following: Private payment options. For those who have the resources, private pay might seem straightforward. However, an attorney can provide advice on how to utilize these funds in the most effective way, possibly extending the longevity of these resources through strategic planning. Long-term care insurance. If you have long-term care insurance, an attorney can help interpret and leverage these policies to maximize the benefits while minimizing out-of-pocket expenses. Veterans’ Benefits. For veterans and their spouses, additional benefits may be available. An elder law attorney can assist in applying for any benefits for which you may be eligible, ensuring all paperwork and documentation are handled correctly. Navigating public benefits. The maze of public benefits, especially Medicaid, can be particularly challenging. Medicaid may cover the payment for many aspects of nursing home care, but qualifying for it requires careful planning and navigation. Asset protection. An elder law attorney can provide guidance on legal strategies to protect your assets, ensuring eligibility for Medicaid while preserving as much of your wealth as possible. Application process. They can help with the entire Medicaid application process, ensuring that all the criteria are met and that the application is complete and submitted properly to avoid delays. The process of selecting and paying for long-term care is filled with legal, financial, and emotional challenges, but you do not have to navigate it alone. An elder law attorney can provide the guidance and support you need to make informed decisions, offering peace of mind that you and your loved ones are well cared for both now and in the future. If you are starting to think about this important planning, or if you are in the midst of making these critical decisions, remember that professional advice is just a phone call away. We are prepared to help you navigate these complex issues with empathy and expertise. We aim to help you feel secure about these things with good estate and long-term care planning. Get in touch with us to chat more about this!
Understanding Angela’s Role as a Certified Elder Law Attorney (CELA)
There is no question that navigating the complexities of elder law requires specialized knowledge and experience. Our attorney, Angela Odensky, is a Certified Elder Law Attorney (CELA) from the National Elder Law Foundation, and offers precisely that. As part of a virtual law firm serving clients in Texas and Washington, Angela provides exceptional legal services tailored to the unique needs of the elderly and their families. Elder law is a specialized area of legal practice focused on issues that affect the aging population. It encompasses a wide range of legal matters, including, but in no way limited to, the following: Estate planning, Long-term care planning, Medicaid and Medicare issues, Guardianship, Protection from elder abuse. Elder law attorneys help seniors and their families plan for the future, protect their hard earned savings, and ensure that their legal rights and wishes are respected. This field requires a deep understanding of both the law and the unique challenges faced by older Americans. But, what is a Certified Elder Law Attorney (CELA)? A Certified Elder Law Attorney (CELA) is a designation awarded by the National Elder Law Foundation to attorneys who demonstrate a high level of proficiency and dedication to the field of elder law. This certification signifies a commitment to helping seniors and their families navigate legal issues related to aging, healthcare, and estate planning. Angela’s CELA designation ensures that she possesses advanced knowledge in various aspects of elder law, including Medicaid planning, long-term care, guardianship, and estate planning. Her expertise allows her to provide comprehensive legal solutions that address the unique challenges faced by seniors. Beyond this specialization and recognition, our firm embraces a holistic approach to elder law. Angela’s approach goes beyond traditional legal services. She takes a holistic view of her clients’ needs, considering not only their legal issues but also their overall well-being. This means addressing financial planning, healthcare decisions, and family dynamics to create a thorough and effective plan. Working with Angela and our entire firm means receiving compassionate and personalized service. We understand the emotional and practical challenges that come with aging and are dedicated to providing support and guidance every step of the way. Our virtual practice allows for convenient and accessible consultations, ensuring that our clients can receive the help they need from the comfort of their own homes. One of Angela’s primary goals, which is a shared focus for our entire practice, is to provide peace of mind for families. By creating detailed and customized legal plans, we can help ensure our clients’ wishes are respected and that their families are protected. This includes planning for incapacity, protecting hard earned savings, and ensuring that healthcare decisions align with their values and preferences. The field of elder law is constantly evolving, with new regulations and policies regularly emerging. Angela stays up-to-date with these changes to provide the most current and effective legal advice. Her ongoing commitment to education and professional development ensures that her clients benefit from the latest legal strategies and protections. With her expertise, you can navigate the complexities of elder law with confidence and peace of mind. We are prepared to help you navigate these complex issues with empathy and expertise. We aim to help you feel with good estate and long-term care planning. Get in touch with us to chat more about this!
Why Early Planning Is Essential for Long-Term Care for You and Your Family
Are you prepared for the high costs of long-term care, or are you hoping to delay those decisions? We understand and find that for many families long-term care is an unavoidable expense, whether due to aging, illness, or disability. Unfortunately, the costs associated with this care are steep, often placing an unexpected financial burden on families. Early planning offers the chance to explore your options, secure needed resources, and help alleviate last-minute stress. As we observe National Long-Term Care Awareness Month, it is the perfect time to recognize the importance of planning ahead. By taking steps now, you can ensure a smoother, more secure transition if and when long-term care is needed. Let us share just a few reasons early planning is so critical and how it can make all the difference for families facing the high costs of care. 1. Protect your nest egg. One of the most important benefits of early planning for long-term care is the ability to protect your assets. Without a strategy in place, families risk depleting their savings and even losing their homes to cover care costs. Early Medicaid planning offers ways to protect your assets legally, allowing you to pass on your legacy while still qualifying for necessary care. 2. Avoid last-minute stress. When a loved one suddenly needs long-term care, families are often forced to make quick decisions under pressure. This can lead to costly mistakes or missed opportunities for financial assistance. By planning ahead, you can avoid rushed decisions, reduce stress, and know that you are making informed choices that protect your loved one’s future. 3. Qualify for Medicaid sooner. Medicaid is a crucial resource for long-term care, but qualifying for it requires meeting strict financial criteria. Early planning allows you to meet these requirements more strategically. Medicaid “look-back” periods can result in penalties if assets were transferred or spent down incorrectly. Planning in advance gives families time to adjust finances to meet eligibility guidelines while maximizing financial protections. 4. Access more care options. With early planning, families have a wider range of choices when it comes to care. From home health care to skilled nursing facilities, planning ahead allows you to consider the best options for your loved one’s needs. Last-minute decisions may limit these options, as many facilities have waitlists or prefer advanced arrangements. Early, or proactive, Medicaid planning helps ensure that you can choose from a variety of high-quality care providers. 5. Preserve independence for your loved one. When a loved one is faced with an immediate need for care, the lack of planning can limit their independence. Early planning empowers families to create a care plan that aligns with their loved one’s preferences and needs, allowing them to age in place or maintain greater control over their care. This approach respects their autonomy while planning for the future. 6. Reduce the financial burden on family members. Without a plan, families often bear the financial and emotional strain of caregiving. Early Medicaid planning provides the support needed to cover high care costs without risking the financial security of family members. By planning early families can establish a clear financial path for care, avoiding the need for family members to cover unexpected expenses. 7. Maximize financial and legal protections. You may not know this but estate planning and Medicaid planning work hand-in-hand to secure a family’s financial future. When working with an elder law attorney, families can establish trusts, review asset transfers, and create plans that maximize both Medicaid benefits and financial protections. Starting early allows for more comprehensive planning and ensures that your loved one’s assets are shielded. 8. Ensure peace of mind for the entire family. For family caregivers, knowing that a loved one’s long-term care needs are planned for can provide a tremendous sense of relief. With an established plan, families do not have to worry about how they will cover sudden expenses or navigate complex eligibility requirements. Early planning provides peace of mind for everyone involved, ensuring that care needs will be met without disruption. We are prepared to help you navigate these complex issues with empathy and expertise. Planning early for long-term care can make a significant difference in the quality and affordability of care for your loved one. From protecting assets to ensuring eligibility for Medicaid, early preparation is key to creating a financially secure future. We know that effective communication with your virtual attorney is key to a successful legal experience. By following these tips, you can ensure clear, efficient, and secure interactions, making the process smoother and more productive for both you and your attorney. We aim to help you feel secure about these things with good estate and long-term care planning. Get in touch with us to chat more about this!