Medicare And Medigap Insurance Policies: Maximizing The Benefits
November 15th, 2019 by David Goldfarb
Additional information on the Medicare Prescription Drug Benefit Copayment and premium amounts for 2020: Part B premium: $144.60 per month on average. If your income is above $85,000 (single) or $170,000 (married couple), then your Medicare Part B premium may be higher. Co-payments: Inpatient hospital deductible: $1,408. Inpatient hospital copay for days 61 – 90: […]
How Medicare Recipients Can Prepare for the Termination of Certain Supplemental Medicare Policies (Medigap)
August 2nd, 2019 by David Goldfarb
As part of the Medicare Access and CHIP Reauthorization Act of 2015, Congress eliminated certain Medigap plans that cover Medicare Part B deductibles and other expenses owed by Part B policyholders. The federal law will no longer allow insurance companies to offer certain Medigap programspolicies—such as Plan C or Plan F—starting in 2020. As part […]
Defined Benefit Plans versus Defined Contribution Plans
April 4th, 2019 by David Goldfarb
If you earn a living and consider planning ahead for retirement, you have likely heard the phrases “defined benefit plan” and “defined contribution plan.” However, while many people may see these terms, they may not fully understand the differences between these retirement income programs, even if they are enrolled in one type of plan. Make […]
Which Documents Do You Need to Retain?
March 28th, 2019 by David Goldfarb
In today’s day and age of online transactions, it can be difficult to wonder if we still need paper statements or documents at all. Of course, we all still have paper records, but how long should we hold on to them? Can we shred some and purchase a smaller filing system? Will retaining certain paper […]
The Irrevocable Life Insurance Trust (ILIT)
March 15th, 2019 by David Goldfarb
Many people purchase life insurance policies to take care of their families after they pass away. Family members can use life insurance proceeds in a variety of ways, such as paying off taxes or a mortgage, covering funeral costs, to replace lost income for the household, or to cover a major expense, such as college […]
The Top Reasons to Plan Your Estate
February 28th, 2019 by David Goldfarb
While every adult needs a comprehensive estate plan, certain reasons make it especially important to create a plan or review an existing plan for any necessary modifications. The following are some reasons to call our elder law attorneys right away. You Have Children An estate plan will allow you to acknowledge your children and ensure […]
Changes in Fair Hearing Rights for Medicaid Managed Long Term Care and Managed Care Members Effective May 2018
February 16th, 2019 by David Goldfarb
Starting on May 1, 2018, Medicaid subscribers in New York state will see drastic changes to their appeals process. These changes place more procedural requirements on those seeking to appeal Medicaid determinations. An experienced New York elder law attorney can help Medicaid subscribers who need assistance with their Medicaid appeals. For decades, the elder law […]
What Is Estate Planning?
February 14th, 2019 by David Goldfarb
Too many people think that estate planning only pertains to senior citizens and that it is only for wealthy individuals. Both are misconceptions, however, as adults of all ages can benefit from estate planning no matter their financial situation. Every adult has an estate. Some estates involve real estate, investment accounts, and more, while others […]
Guardianship for Incapacitated People in New York Under Article 81
February 11th, 2019 by David Goldfarb
Article 81 of New York’s Mental Hygiene Law authorizes a court to appoint a guardian to manage the personal and/or financial affairs of a person who cannot manage for himself or herself because of incapacity[1]. Not all Article 81 guardians (hereinafter “guardians”) in New York have the same powers. Guardianship orders are specifically tailored so […]
New York Legal Resources
February 10th, 2019 by David Goldfarb
New York Laws, Regulations & Policies N.Y. Consolidated Laws, Session Laws, Legislative Bills N.Y. Health & Welfare Regulations: Title 10 Title 18 New York Medicaid Reference Guide (MRG) Official Policies (ADM, INF & GIS): 1996 – present NYS DOH Medicaid Library of Official Documents (ADM, INF & GIS): 1996 – present Medicaid Policy Directives to […]
