A new study released recently analyzed the survey results of over 230,000 people and found that those receiving Medicaid have a much higher chance of visiting an emergency room over the past year than those with private insurance carriers. The study looked at data gathered by the US national health interview survey between 1999 and 2009. About 40% of Medicaid patients had visited an emergency room within the last year, while only about 18% of people with private insurance did the same. The … [Read more...] about Emergency Room Visits Higher For Medicaid Patients
Financial Planning
Elder Abuse Scams – 3 Red Flags
Red Flag 1: You must act now. Con artists often use a false time pressure in order to try to get you to agree to a deal that you otherwise would never consider. If someone is offering you a limited time offer, or tells you that you must act immediately or you will miss the opportunity of a lifetime, simply walk away. The false time pressure is a tool specifically designed to get you to not think and to give in to your instincts, which are usually wrong. Red Flag 2: Keep it quiet. A legitimate … [Read more...] about Elder Abuse Scams – 3 Red Flags
Medicaid Set To Expand
Under the terms of the Patient Protection and Affordable Care Act, or PPACA, the number of people eligible to receive medical care under the Medicaid program is set to expand in less than two years. The PPACA contains provisions that will allow 16 million more Americans to be covered under the Medicaid safety net. The law states that starting in January of 2014, anyone who has a household income of up to 133% of the federal poverty level can receive Medicaid whether the person is employed or … [Read more...] about Medicaid Set To Expand
3 Financial Traps That Retirees Can Avoid
Trap 1: The Reverse Pension Plan Though they have faded in popularity over the past several years, reverse pension plans are a notorious scam and are always a bad idea. These plans come in a variety of forms, but typically try to convince you to pay a very small upfront fee, usually around $50, for a potential benefit of about $50,000 later on. If anyone comes to you offering a reverse pension plan and tells you how you can benefit from it, you should immediately walk away. Trap 2: Carrying … [Read more...] about 3 Financial Traps That Retirees Can Avoid
“Waiters” And The Reality of Inheritance Planning
The phenomena of “waiters” is something estate planning attorneys are seeing with more and more frequency. A “waiter” is typically a baby boomer who is relying on receiving a substantial inheritance from his or her depression era parents when they die. For many waiters, the prospect of receiving an inheritance is becoming increasingly less likely as numerous demographic factors are complicating the issue. Longevity For many baby boomers and their parents, the increase in lifespan that … [Read more...] about “Waiters” And The Reality of Inheritance Planning
Watch The Oscar Nominated Descendants – Especially If You’re Leaving Your Children A Lot
The 2011 film The Descendants was nominated for five Oscars in 2012 and took away one for best adapted screenplay, but it also has some estate planning issues involved in it that should be of interest to many people who are beginning the estate planning process. In the film, George Clooney plays wealthy attorney Matt King, who is left to care for his two daughters after his wife is injured and left in a coma. As the descendant of a Hawaiian princess and a wealthy white man, King is one of the … [Read more...] about Watch The Oscar Nominated Descendants – Especially If You’re Leaving Your Children A Lot
Talking To Aging Parents About Money
For an aging parent, the change from being independent and caring for others, to becoming someone who relies on others on a daily basis, is often fraught with highly charged emotions and difficult transitions. When you add the difficult topic of money to the mix, bringing up financial discussions with your aging parent can sometimes feel almost impossible. Let's look at several tips you can use in order to have a positive discussion about the topic. Tip 1: Set out your desires. When you … [Read more...] about Talking To Aging Parents About Money
3 Sources Of Celebrity Estate Problems
Problem Source 1: Family Business Positions. A successful family business can be both a benefit and a burden for an estate plan, especially when children stand to inherit different responsibilities after a parent and head of the business dies. While decisions about managing the enterprise may seem like purely a business decision, children or relatives who feel left out can be a source of conflict. Problem Source 2: Fighting Families. If a family is already distant or fighting before a wealthy … [Read more...] about 3 Sources Of Celebrity Estate Problems
Your Digital Life Part 2 – Digital Estate Planning For Younger People
The statistics surrounding estate planning are fairly well known. About half of all people don't have any estate plan in place, and those that do are more likely to be seniors or older adults. For young adults, the question of estate planning is rarely a question, and digital estate planning even less so. However, younger adults are in a greater need of digital estate planning than most others. Here are three reasons why. Reason 1: You live your life online. The younger you are, the more … [Read more...] about Your Digital Life Part 2 – Digital Estate Planning For Younger People
Credit Card Debt And Your Estate: What Happens?
Scenario 1: You and your spouse have joint card debt. If you have a joint credit card and either account holder dies, it's up to the other account holder to pay back the debt. This is true even if you signed as a co-signer and you never used the card. You'll be responsible for the entire amount even if the deceased spouse was the one who racked up all the charges. Scenario 2: You have individual card debt. If you have an individual credit card, this debt must still be repaid but it won't … [Read more...] about Credit Card Debt And Your Estate: What Happens?
