- Home
- Articles
Filter Articles
Articles
What Assets are Exempt for Medicaid Eligibility?
In order to qualify for Medicaid financing of long-term care services, an individual must be medically and financially eligible. The financial requirements limit the amount of “countable” resources and income that an individual can have and still qualify for Medicaid financing. But what are the "non-countable" resources?
Another Benefit of Medicaid Qualification: PA Filial Support Law
The obvious benefit of qualifying for and using Medicaid for long-term care costs in Pennsylvania is to preserve assets for the next generation. Another, lesser known benefit is to protect your children from the financial burden of your nursing home bills, because of Pennsylvania's Filial Support Law.
2021 Agent and Broker Mergers and Acquisitions
Mergers and acquisitions among insurance agencies and brokers in the U.S. and Canada set all-time record in 2021.
In-Home Waiver for Medicaid
Information and steps to apply for waiver services in Pennsylvania.
New Single Life and Uniform Life Tables and RMDs
The IRS issued final regulations on November 4, 2020, making revisions to the Single Life and Uniform Life tables for calculating required minimum distributions (RMDs), effective January 1, 2022.
Why Use Trust Planning?
This article shows the benefits of multi-generational asset protection planning, using trusts.
Insurance Broker M&A Activity Continues at Record Levels
Mergers and acquisitions among insurance agencies and brokers in the
United States and Canada continue to occur at record levels.
2022 Dollar Limitations on Benefits and Contributions
The IRS has announced the cost-of-living adjustments for pension plans and other related items for the 2022 tax year (Notice 2021-61).
COVID-19’s Impact on the Unemployment System
One of COVID’s most severe impacts was on the unemployment system. The system became incredibly complex to navigate due to significant changes at the federal and state levels. Even today, with the federal benefits having expired, the system still seems unfamiliar and tangled.
Potential Federal Tax Changes: What May Be Coming
On September 13, 2021 the U.S. House Ways and Means Committee (the “Committee”) announced their proposed plan and legislative text for the 2022 Budget Reconciliation Bill (the “Plan”), which includes numerous federal tax changes, including the pertinent modifications highlighted here.
Medicaid Application Checklist
Applying for Medicaid, or Medical Assistance, for long-term care costs can be daunting. The following checklist provides a list of items you or your loved one will need to complete the Medicaid Application in Pennsylvania.
American Rescue Plan Act of 2021: Notice Required for the End of COBRA Premium Assistance
This update is regarding the COBRA premium subsidy mandated by the American Rescue Act Plan of 2021 (ARPA) and the notice regarding the availability of the subsidy.
Powers of Attorney: What Are They and Why Do They Matter?
Powers of attorney (POAs) are an essential document in planning for a client’s potential incapacity and/or long-term care needs. This article discusses financial powers of attorney and their utility in connection with an elderly client’s needs.
Medicaid Eligibility: Can I Gift Cash To My Children?
When meeting with clients and prospective clients, we often get questions about the gift tax, gift tax exemptions, and how a gift of cash affects Medicaid eligibility. To properly understand how these items interact, each needs to be understood separately before taking them together.
What Is Estate Recovery?
Among the many terms that arise in connection with Medicaid planning is the concept of Estate Recovery, which is the process by which the government recoups part of the Medicaid benefits paid on behalf of a Medicaid applicant during their lifetime.
Legal Advice Disclaimer The content of this website is provided for general information purposes only. It should not be used as a substitute for consulting an attorney for legal advice regarding the reader's own affairs. Knox McLaughlin Gornall & Sennett, P.C. is not responsible for the content provided on any third-party website which may be accessed via links provided by this site.