As our clients move along the continuum of care cycle from home care to assisted living facilities to nursing homes, the level of care increases along with the cost of providing that care. Without proper planning, those costs could become devastating. The problem is it is hard to find someone who understands how various assistance programs work, and even harder to find someone who understands how those programs work together.
Working knowledge of Veterans Benefits, Medicaid, Social Security, Medicare, Medicare Supplements, Long Term Care Insurance, and the ever present IRS is critical to providing the best advice for the best results. Furthermore, certain legal documents may also be required.
Working knowledge of Veterans Benefits, Medicaid, Social Security, Medicare, Medicare Supplements, Long Term Care Insurance, and the ever present IRS is critical to providing the best advice for the best results. Furthermore, certain legal documents may also be required.
Services
Mr. McCarthy has a degree in Finance from Boston University's School of Management. Almost immediately out of college he started the first proprietary Meals-On-Wheels in the country in and around the greater Boston area, serving over 50 communities. Today, his practice has evolved to a highly specialized area dealing with the long term care issues of older adults, particularly those in assisted living facilities and nursing homes.
Whether you know it or not, the "system" has developed an estate plan for every one. The question then becomes, "Do you want to default to the estate plan the system created for you, or do you want to be proactive and take control of your estate yourself?" For example, without proper estate planning you will pay for everything: medical bills, legal bills, Probate, taxes, etc.
Medicaid Planning means taking advantage of legal options to help qualify for Medicaid sooner than otherwise possible. Medicaid is generally only available to patients in nursing homes, however, there are a few assisted living facility and home care exceptions. Unfortunately, many long term care recipients go to nursing homes on Medicaid when they run out of money, regardless of whether or not they need nursing home care.
The Veterans Administration is probably the best kept secret in senior health care. The VA is a wonderful organization that helps veterans in many ways. Probably the two most beneficial programs for older veterans are their prescription drug program and their Aid and Attendance program. To find out if you qualify for financial assistance with your medications, contact the veteran's hospital or clinic nearest you.
Bill McCarthy and Associates is a Registered Investment Advisor in the States of Ohio and Florida and Mr. Bill McCarthy is a Licensed Investment Advisor. We are able to advise and sell almost any kind of financial product whether it be an insurance product like an annuity or a stock or bonds or mutual funds or just about anything you could want.
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