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Elder Law Newsletters

Employment – Veterans – Service Credit for Federal Government Veterans’ Benefits

Among the benefits veterans receive while working for the federal government are leave and retirement benefits. Veterans also receive certain preferences as a result of their status during reductions in force, and they may receive severance pay when separated from service.

Insurance – Long-Term Care – Overview

As America’s baby boomers age, more insurance companies are offering long-term care insurance, which is designed to cover the costs of long-term care, an unfortunate reality for many members of the elderly population. In fact, depending upon the study, somewhere around 50 percent of the American population will require long-term care at some point in their lives.

Mandatory Services – Nursing Facility Services

Medicaid is a federal entitlement program that provides health care coverage to Americans with low income and assets. Although the states administer Medicaid for their residents, there is a core group of services, known as mandatory services, they must provide. One of these services is the provision of nursing facility services for individuals who are at least 21 years old. The federal government dictates that only certain types of costs may be charged to residents of these facilities.

OVERVIEW OF ANNUITIES

Although they do not fit within the strict definition of insurance, annuity policies are now widely viewed as a form of insurance. However, the insurance aspect of an annuity basically goes to the fact that the annuitant will receive a guaranteed income payment (usually for the rest of his or her life). Annuities were not regarded as insurance at common law, but commercially issued annuity policies are now largely regulated by state insurance statutes. Some types of annuities such as variable annuities are securities that are regulated by the Securities Exchange Commission. Fixed annuities are not securities and are not regulated as such.

Subsidized Guardianships

Grandparents often do not anticipate acting as the sole or primary caregiver for their grandchildren. As a result, they may have inadequate resources to provide adequately when they are called upon to do so. One of the most widely available resources provided to relative caregivers by the federal and state governments are subsidized guardianship programs.

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