Please pay particular attention to this month’s articles regarding various topics including Nursing Homes, Annuities, IRAs and Capital Gains Taxes.
As in our past newsletters you will find helpful tips for your planning and care needs as well as links to other helpful online articles and resources. And remember, please take the time to look over this month’s articles; we believe they will prove to be very beneficial to you and your family.
Please contact our office if you have any questions or concerns regarding your estate or care planning needs.
This Month's Articles:
Fighting an Assisted Living Discharge
New Tax Law Includes Changes to Roth IRAs and Capital Gains Taxes
Medicare HMO Lock-In to Take Effect July 1
Book Review: Nursing Homes: Getting Good Care There
Web Site Combats Annuity Sales Abuses
Supreme Court Rules in Medicaid Lien Case
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| Fighting an Assisted Living Discharge |
| When you move into an assisted living complex, you expect to spend the rest of your days there. However, many assisted living residents suddenly find themselves facing eviction from their homes when their health deteriorates. Although there is no "one size fits all" way to handle a discharge from a facility, there are some things you can try. |
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| New Tax Law Includes Changes to Roth IRAs and Capital Gains Taxes |
| On May 17, 2006, President Bush signed a new tax bill into law that makes a number of changes to tax law, including changing who can participate in a Roth IRA, extending the capital gains tax reduction, making unearned income by minors up to age 18 taxable at the parent's tax rate, and increasing the Alternative Minimum Tax exemption. |
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| Medicare HMO Lock-In to Take Effect July 1 |
| After June 30, 2006, seniors enrolled in a Medicare managed care plan, such as an HMO, will not be able to switch plans or move to original Medicare during the year. The lock-in has been postponed twice, but starting July 1, 2006, managed care enrollees will be able to change plans only once a year between November 15 and December 31. |
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| Book Review: Nursing Homes: Getting Good Care There |
 When a loved one is admitted to a nursing home, you want to make sure he or she is getting the best possible care. Nursing Homes: Getting Good Care There can teach you how to be a good advocate for a nursing home resident. |
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| Web Site Combats Annuity Sales Abuses |
| Across the nation, the elderly are being targeted by salespeople selling annuity products. For some seniors, an annuity may be an appropriate part of an overall financial plan. But for others an annuity is totally unsuitable. To help older adults and families make better decisions about annuities, the Healthcare and Elder Law Programs Corporation (H.E.L.P.) has created a Web site, annuitytruth.org. |
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| Supreme Court Rules in Medicaid Lien Case |
| On May 1, 2006, the United States Supreme Court handed down an important Medicaid ruling. The decision, a victory for those who are disabled due to another person's fault, could affect anyone who is injured, is forced to go on Medicaid to receive health coverage, and then wins a legal award or settlement as a result of the injury. |
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