Elder Law Newsletter – December 2019 Legal Update
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 Jennifer Exum and other members of the Elder Law Practice Group of Chambliss Law Firm.
Chambliss Law Firm Monthly Editorial
Make a Resolution to Have a Plan
by Sally Brewer
With all of our New Year’s resolution planning, we typically create goals for health and wealth, right? Why not think of the health and wealth of your legal affairs? In 2020, we encourage you to seize the day and put proper plans in place. Make plans now to appoint those in your life with YOUR best interests in mind instead of leaving it to chance. Not having a plan is a bad plan. The gift of certainty is…priceless!
Medicare Premiums to Increase By Almost $10 a Month in 2020
After small or no increases the past couple of years, Medicare’s Part B premium will rise sharply in 2020. The basic monthly premium will increase $9.10, from $135.50 a month to $144.60.
Medicaid’s Treatment of the Home
Nursing home residents do not automatically have to sell their homes in order to qualify for Medicaid, but that doesn’t mean the house is completely protected.
Home Care Costs Rise Sharply in Annual Long-Term Care Cost Survey
When it comes to long-term care costs, the charges for home care are now rising faster than those for nursing home care, according to Genworth’s 2019 Cost of Care survey.
IRS Issues Long-Term Care Premium Deductibility Limits for 2020
The Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2020 income as a result of buying long-term care insurance.