Author Archives: jay@milemarkmedia.com
What is a Qualified Income Trust?
Paying for long-term care can quickly deplete an individual’s assets due to how expensive long-term care services are. In Florida, the average price of a private nursing home room is $10,809 per month. However, additional expenses such as the cost of medications and medical supplies are likely to increase that average to $12,000 to… Read More »
What is a Personal Service Contract?
Under Florida’s Medicaid program, individuals must meet specific income and asset eligibility requirements to qualify. Individuals applying for long-term care cannot have countable assets that exceed $2,000 (individual applying) or $3,000 (married couple applying). However, an individual may become Medicaid eligible by creating a Personal Service Contract. Personal Service Contracts are a strategic way… Read More »
What Happens to my Credit Card and/or Travel Rewards When I Pass?
If you have travel and/or reward credit cards that allow you to earn “points” or “miles”, your reserve of rewards could be worth thousands of dollars. But what happens to credit card points or miles after you pass? Each company has its own specific requirements and stipulations regarding the transfer of credit card reward… Read More »
Florida Medicaid Increases Personal Needs Allowance: Effective July 1, 2023
The Florida Legislature recently raised the Florida Medicaid Personal Needs Allowance from $130 per month to $160 per month, effective July 1, 2023. In Florida, Medicaid covers the difference between the full cost of long-term care in a skilled nursing facility and an individual’s income for eligible Florida residents. As a part of their… Read More »
CPR for the Elderly: Survival or Suffering?
The famous life-saving rescue technique, Cardiopulmonary Resuscitation (CPR), could be worse than death, especially for the elderly. The misconceptions surrounding the use of CPR stems from the unrealistic high success rate of CPR shown on television to add a heroic plot line. In reality, CPR may cause more harm than good, with an out-of-hospital… Read More »
What Is A Power Of Attorney?
Executing a Power of Attorney is an important step to protect your future. With a power of attorney, you can designate someone to act on your behalf, whether or not you are declared incapacitated. This important legal tool allows you to maintain control of your life while having a plan if you need someone… Read More »