The PAID Act recently became law. The act paves the way for Non-Group Health Plan (NGHP) Responsible Reporting Entities (RREs) to receive valuable Medicare Part C and Part D plan information for the injured parties they submit through the Centers for Medicare and Medicaid Services’ (CMS’) Section 111 query process. Now that we are only ten short months away from implementation, many are asking: what are the practical implications of this change, and what should we do to prepare for December 2021?
What does the PAID Act do?
Is there anyone sad to say goodbye to 2020? For many of us, 2021 epitomizes the symbolic renewal of a new year, with an extra kick of life motivation. In what ways will you channel this energy?
Everyone should tend to their personal affairs in some manner. For some this may be a simple review of existing documents or an update of contact lists and account inventories. However, if you are reading this and you know you still have not taken care of those basic documents everyone must have – Now is the time!
Impact of COVID-19 Stimulus Check on Property Tax and Rent Rebates for Older Adults and Residents With Disabilities on Medicaid.
For most of us, the prospect of money appearing in our bank account is a welcome gift. However, if our loved one is on Medicaid could be cause for concern. How can this money be used? Will it result in our parent losing benefits? Should I you give the money to the nursing home? With the first stimulus, there were many questions regarding how this money could be used, but we now have a clearer picture. First, facilities have no right to this money. It is not considered income for public benefit purposes and will not be treated as a resource if it is spent within one year of receipt. So here are five ideas for how to use the stimulus check received by your loved one on Medicaid.
Every state has laws controlling what happens to your assets if you die and don’t leave instructions indicating what you want to happen to those assets. Those laws are called “intestate succession” laws. While they are designed to cover what people will want generally, they typically don’t come close to being what most people want to happen.
Many people make New Year’s resolutions. If one of your resolutions was to make sure your affairs and finances are in order, then you are going to need to review your estate plan – or create one. How do you know if it needs to be changed or updated, or whether you even need one in the first place? Below are a few scenarios that you may want to consider.
Every year consumers are introduced to thousands of new options from the land of tech. Many become parts of our every day life, like cell phones and Apple, and others remain obscure and forgotten, but this year there was a new focus worth considering.
With a year behind us many of us would like to forget, we are looking at how we can move forward with a new outlook on life in 2021. For example, many of us were forced to learn how to use technology in 2020 we never felt we’d have a reason to use, and we realized it was a lot easier than we thought! I learned how to use Zoom and Skype, and several other virtual options for meeting with clients and getting information to folks. It’s new world for those of us who over the age of 40, and for once we’re excited to see what technology may have in store for us.
Here is a list of some of the new devices and gadgets designed specifically for seniors, our new way of life, and our future.