Glossary of Elder Law Estate Planning Terms

May 28th, 2020 by David Goldfarb

New York law uses unique terminology when it comes to estate planning and elder law. If you know and understand this terminology, it will make it much easier for you to comprehend the estate planning process and how it works. The experienced New York estate planning attorneys at Goldfarb Abrandt & Salzman  LLP can discuss […]

New York State Medicaid Law

May 28th, 2020 by David Goldfarb

New York Medicaid Attorneys Don’t make a mistake with Medicaid eligibility; contact a New York elder law attorney with knowledge of Medicaid law.  Goldfarb Abrandt & Salzman LLP is a law firm that handles New York Medicaid cases. Updated with 2020 income, resource and penalty rates Introduction Medicaid is a joint federal, state and city […]

In recent years, many people have put estate and gift tax concerns out of their minds since the Obama Administration increased the estate tax credit to more than $5 million in the early 2010s. The Tax Cuts and Jobs Act of 2017 again substantially increased the estate and gift tax credit, protecting most estates in […]

Including information on the Health Care Reform Provisions of 2010 Affecting the Medicare Prescription Drug Donut Hole With great fanfare, on December 8, 2003, President Bush signed into law the Medicare Prescription Drug, Improvement and Modernization Act of 2003 (the “Act”). The Act provides for the establishment of a voluntary drug benefit under a new […]

Medicaid Application Services Are NOT Medicaid Planning

February 14th, 2020 by David Goldfarb

Nursing home care is extremely expensive, and even a relatively short stay in one has the potential to wipe out a patient’s entire estate. For this reason, many people who are going into nursing homes take steps to establish and preserve Medicaid (https://www.medicaid.gov/) eligibility so that government benefits at least partially subsidize their care. According […]

The Jimmo Case and the Medicare Improvement Standard

January 5th, 2020 by David Goldfarb

Senior Law Attorney New York

A settlement agreement in the 2013 case of Jimmo v. Sebelius clarified the “improvement standard” that Medicare used when determining when to grant benefits for skilled nursing care, outpatient therapy, or home health care. Now, anyone seeking benefits for these types of care should fully know their rights under the agreement. Prior to the case, […]

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: […]

Medicare Attorney New York

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 […]

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 […]