Retirement Medical Expenses
Found 30 Articles.
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Behind the Headlines on Prescription Drug Prices
In my files are a series of reports detailing the rapid rise in the cost of medical care for Americans, especially for seniors. The good news is that the numbers in the reports aren’t terribly accurate. The bad news is that these reports are used to scare people, especially those in and near retirement, and […]
How to Maximize Retirement Community Deductions
A portion of long-term care expenses are deductible as medical expenses. The question taxpayers often ask is what portion of the fees paid to retiree communities, such as assisted living facilities or nursing homes, can be deducted. The Tax Court recently stepped into this issue and set some new rules. When someone enters a nursing […]
Things You Need to Know About Medicaid
Would you like free nursing home care? Almost everyone over age 65 has been exposed to seminars and other presentations promising just that. Adult children of older people, especially those already in nursing homes, get regular exposure to the ideas. Some elder law and estate planning attorneys make this promise a central part of their […]
Health Care Tax Strategies
Health care or long-term care can eat up a big part of a retiree’s budget – or the budget of a retiree’s children. Fortunately, the tax law can help pay for a big part of that burden. Deductions for medical expenses seemed to disappear when the rules were changed in 1986. Now, you can deduct […]
Best Ways To Pay For Extended Long Term Care
One of the most stressful and difficult financial decisions is planning for possible long term health care expenses. Individuals of all ages struggle over how to provide for the possibility of significant long-term health care costs. Should they buy long-term care insurance? If so, how should they pay for it? Are there other options? Nursing […]
The Easy Way To Pay for Long Term Care
Financing potential long-term care expenses can be complicated and expensive. Nationally, a month in a nursing home ranges from $3,000 to $6,000, and is rising faster than general inflation. That’s why many people do no planning. Another reason is that half of nursing home stays are for 90 days or less, and Medicare pays for […]
