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    Kinghorn Heritage Law Group, PLC

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    Home / General / Happy Birthday to Medicare

    Happy Birthday to Medicare

    June 27, 2016General

    As Medicare celebrates its 50th birthday on July 1st, there are a few important milestones to recognize. First and foremost, is that for the past 50 years, Medicare has been an important resource for those over age 65 and the disabled. Medicare now provides health insurance for nearly 55 million people, making coverage available to virtually all people over age 65. Prior to Medicare, only 65 of people in this group had health insurance. Here are a few Medicaid fun facts:

    • President Lyndon B. Johnson signed the bill into effect, and former President Harry S. Truman became the first person enrolled. President Truman’s wife, Bess, was the second person.
    • In the first week, one million people enrolled in Medicare. By the end of the year, 19 million had enrolled.
    • Today, there are nearly 54 million people covered by Medicare, and that number is expected to rise to 78 million by 2030.
    • The first Medicare Part B premium (which covers doctor visits and outpatient care) was $3 per month.
    • When he ran for president in 1912, Theodore Roosevelt became the first presidential candidate to propose a national health care program for the elderly.

    Medicare vs. Medicaid

    But don’t confuse Medicare with Medicaid. Medicaid, a joint state and federal program, was also included in the bill signed by President Johnson. Medicaid, which in Arizona is called AHCCCS (Arizona Health Care Cost Containment System), is a program to provide health coverage for low income individuals.
    One crucial difference between the two programs is what each will cover for long-term care. If you don’t know the difference, you are not alone. In a recent survey conducted by the Alzheimer’s Association, 65% of respondents were confused about whether Medicare covered long-term care costs, but the fact is, Medicare pays for almost no long-term care. Medicaid, on the other hand, will pay for long-term care, but only if you meet the financial eligibility requirements.


    Kevin KinghornKevin Kinghorn’s practicality, expertise and experience allow him to help his clients wade through complicated issues to find custom solutions to his clients’ individual circumstances and needs. Even more, Kevin enjoys the friendships and lasting relationships that are created with his clients. If you would like to make an appointment to find out how we can help protect your legacy, call (520) 529-4000, or visit us online at www.KHarizona.com.

    • Author
    • Recent Posts
    Sandi Kinghorn
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    • Should I hold my property as joint tenants with my children? - August 1, 2016
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    • Happy Birthday to Medicare - June 27, 2016

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    What is Elder Law?

    Elder Law involves planning for the complex health care, long-term care, and other issues facing elderly and disabled individuals and their families. Studies show that we stand a 40 percent chance of needing long-term care at least once before we die. Therefore, everyone should take into account that at some point residency in a nursing home or an assisted living facility may be needed. However, the substantial cost of nursing home care for an incapacitated person can wipe away a family's nest egg and the inheritance planned for surviving family members. The primary alternative to privately paying the nursing home is Medicaid.

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    So many times clients come to our office under the mistaken impression that there is nothing that can be done to protect assets from nursing home costs. Fortunately much of the circulating consumer knowledge is false or misinterpreted. For example, it isn’t always necessary to wait 5 years after gifting assets to become eligible for Medicaid. The answer actually depends upon the specific facts of your case. With the help of an experienced Elder Law and Medicaid Planning attorney many of the assets you have spent a lifetime accumulating can be protected from high nursing home expenses.

    Medicaid Asset Protection Strategies

    Although with the recent passage of the Deficit Reduction Act, increased restrictions affect the use of some techniques, other asset protection strategies remain viable, especially for married couples where one spouse requires long-term care. Some of these techniques may include setting up an Irrevocable Living Trust, making gifts to family members, and paying for certain Medicaid expenses. Whether you are facing long-term care issues yourself or you have a family member who is, we encourage you to call with your questions or ask us for a free report. Be sure to call sooner rather than later because the timing of the decisions families need to make has a dramatic impact on whether or not someone can actually qualify for this type of support. Elder Law involves planning for the complex health care, long-term care, and other issues facing elderly and disabled individuals and their families. Studies show that we stand a 40 percent chance of needing long-term care at least once before we die. Therefore, everyone should take into account that at some point residency in a nursing home or an assisted living facility may be needed. However, the substantial cost of nursing home care for an incapacitated person can wipe away a family's nest egg and the inheritance planned for surviving family members. The primary alternative to privately paying the nursing home is Medicaid.

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