Chambliss Elder Law Newsletter is a bi-monthly e-newsletter of legal developments and other trends of vital interest to seniors and their advocates. This newsletter is brought to you by Rebecca Miller and other members of the Elder Law Practice Group of Chambliss Law Firm.
Chambliss Law Firm Monthly Editorial
Preplanning for Medicaid Benefits - a Critical Step in Caregiving
by Sally Brewer
As if day-to-day caregiving for your parents is not stressful enough, the financial obligations of skilled care will push you to your limits. Consider this your wake-up call for your parents' financial plans and personal financial responsibility.
The current average cost of care in a nursing home in the Chattanooga area is $7,000 - $10,000 a month. This is for "skilled nursing care" due to a chronic condition such as Alzheimer's disease. Unless you can afford this high cost of care, you will likely turn to government benefits such as Medicaid (TennCare in Tennessee) for help. However, don't expect the Medicaid eligibility and application process to be a walk in the park. With rising long-term care costs and boomers now retiring in droves, TennCare is amending their rules and regulations several times per year with impoverishing effects to recipients and their families. [Click to read the full story.]
Avoid this genetic testing scam
Most Are Taking Social Security at the Wrong Time
A new report finds that almost no retirees are making financially optimal decisions about when to take Social Security and are losing out on an average of more than $100,000 per household in the process. Read more
Tips for Preventing, Detecting, and Reporting Financial Abuse of the Elderly
Reports of elder financial abuse continue to increase, and the elderly are particularly vulnerable to scams or to financial abuse by family members in need of money. Read more