SOCIAL SECURITY 2023 UPDATE SSI FOR NYS RESIDENTS Individual $1,001/month Couple $1,475/month MAXIMUM TAXABLE EARNINGS Social Security (OASDI only) $160,200 QUARTER OF COVERAGE Earnings Required $1,640/quarter SOCIAL SECURITY DISABILITY THRESHOLD Substantial Gainful Activity (SGA) Non-Blind $1,470 Blind $2,460…
MEDICARE 2023 FIGURES MEDICARE PART A: HOSPITAL SERVICES Inpatient hospital deductible $1,600/illness Daily co-insurance $0/day 1-60, $400/day 61-90, $800/day 91-150 Skilled Nursing Facility (SNF) Daily co-insurance amount $0/day 1 - 20, $200/day 21 - 100 Part A Premiums For…
In the United States, getting the care necessary to age well and securely is expensive. Long-term care facilities and retirement communities cost staggering amounts of money, as do premiums to maintain a long-term care insurance policy. The long-term care system…
Under current law, certain transfers of assets by a Medicaid applicant or recipient don’t result in any transfer penalties. An asset of any value or type can be transferred without penalty to children with disabilities regardless of age. The law…
When discussing estate planning and Medicaid planning, the phrase “life estate” is sometimes mentioned, but what does it mean? A life estate is a form of joint ownership of a property that allows one person to remain in the home…
A living will, also known as an advance health care directive, is a legal document that stipulates what actions you would like medical professionals to take if you become incapable of making decisions. A living will is crucial for all…
There is a widely held belief that during the estate administration process, a creditor must file a claim against an estate within seven months after issuing letters by the Surrogate's Court. This is a misinterpretation of the Surrogate's Court Procedure…
A Health Care Proxy in New York is an estate planning or elder law document that allows you to appoint a trusted adult person to make medical decisions for you if you can't. This document is also used to provide…
It is common for older adults diagnosed with dementia to lack the necessary resources to care for themselves over time. If you or a family member has received a dementia diagnosis, begin immediately to discuss and seek guidance for future…
Falls Prevention Awareness Week is a nationwide effort to raise awareness that falls are preventable for older adults. This year the week-long national health campaign is being observed from September 18th through the 24th. Falls among older adults are a big…