All Posts By

Sawyer & Sawyer

Mar 15
1

What Are the Essential Documents for a Good Estate Plan?

By | Estate Planning

A good estate plan should include six important documents. Many clients are surprised to realize that three of these important components involve medical issues rather than financial ones. If your plan is missing one of these elements, your loved ones may have to deal with added legal expenses and delays, or they may be unable to assist you in an emergency. When you have these essential documents up-to-date, you can rest easy knowing that you have taken the right steps to prepare for the future. A Trust Can Be the Key to Security One or more trusts often serve as the cornerstone of a thorough estate plan. There are different types of trusts used to accomplish different goals. For instance, you might use: A revocable living trust to avoid probate An irrevocable asset protection trust to become eligible for long-term care assistance through Florida Medicaid A charitable remainder trust to…

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Jul 23
1

Will Medicare Cover a Coronavirus Vaccine?

By | Elder Care, FAQ, Medicare

With the coronavirus pandemic responsible for more than a hundred thousand deaths and disrupting life across the United States, the only way for the country to return to normal is an effective vaccine. When a vaccine is available, Medicare will cover the cost. Medicare covers vaccines in a variety of ways, depending on the vaccine. It may be through Medicare Part B, Medicare Part D, or a Medicare Advantage plan if you are enrolled in one. Part B covers vaccines only for certain illnesses: flu, pneumonia, and Hepatitis B (if you are at medium or high risk). Medicare covers 100 percent of the cost of these vaccines if you go to an approved provider, and you do not have to pay a deductible or coinsurance. Medicare Advantage is also required to provide these vaccines at no additional costs. Part B also covers vaccines if you are exposed to a dangerous virus…

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Jul 20
2

When Buying a Medigap Policy, It Really Pays to Shop Around

By | Elder Care, Medicare

Medigap policies that supplement Medicare’s basic coverage can cost vastly different amounts, depending on the company selling the policy, according to a new study. The findings highlight the importance of shopping around before purchasing a policy. When you first become eligible for Medicare, you may purchase a Medigap policy from a private insurer to supplement Medicare’s coverage and plug some or virtually all of Medicare’s coverage gaps. You can currently choose one of eight Medigap plans that are identified by letters A, B, D, G, K, L, M, and N (If you were eligible for Medicare before January 1, 2020, but not enrolled, you may also be able to purchase Plans C and F, but those plans are no longer available to people who are newly eligible for Medicare). Each plan package offers a different menu of benefits, allowing purchasers to choose the combination that is right for them. While…

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Jun 30
2

Is Your Child 18? Here Are Legal Documents Young Adult Children Should Have in Place

By | Estate Planning, Legal info

We have a client whose child was in his first year of college.   One day, the client received a call from the residence hall supervisor that their child was transported to the emergency room after a night of heavy drinking.  Our client immediately called the hospital for an update.  Unfortunately, the hospital legally could not provide any information about the child’s condition because the child was over the age of majority (18 years of age in Florida).  Of course, this was frustrating for the client as they pay the child’s tuition, claimed the child as a dependent for tax purposes, and included the child on their medical plan. Our client quickly learned that as the natural parent, once the child turns 18 years old, the parent can’t make healthcare decisions or get personal information without certain legal documents in place. Legal planning documents are not the first thing most people…

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Jun 18
5

Four Ways the Coronavirus Pandemic May Affect Long-Term Care Insurance

By | Elder Care, Estate Planning

The coronavirus pandemic has had a devastating impact on the elderly, particularly those in nursing homes and other long-term care facilities. This has raised questions about how the virus has influenced the costs and provision of long-term care insurance, which covers care in facilities and sometimes at home as well. If you have a long-term care insurance policy, you may wonder how it is affected by the pandemic. If you don’t have a policy, you may wonder if the pandemic will make it more difficult to get one. An article by US News and World Report, examines issues with long-term care insurance that have arisen in the last few months, including the following: Qualifying for insurance. It is already more difficult to qualify for long-term care insurance the older you get. Because older individuals are at a higher risk for coronavirus, this can affect your long-term care application as well….

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May 29
3

Yes, You Can Receive Unemployment and Social Security at the Same Time

By | Elder Care, Estate Planning

The COVID-19 pandemic has sent unemployment to its highest levels since the Great Depression, and older workers have been particularly hard hit, with one in five over age 55 now out of work, according to one estimate. Many people continue to work beyond retirement age, either by choice or out of necessity, at the same time that they receive Social Security benefits. Other older workers are now being forced to take their benefits early after losing their jobs (although doing so permanently reduces the amount beneficiaries can receive). If you are already receiving Social Security, are you also eligible for full unemployment benefits? Until recently, the answer was not necessarily. Many states reduced unemployment benefits of those receiving Social Security retirement benefits by up to 50 percent, something called the “Social Security offset.” But after AARP and the National Unemployment Law Project pushed to have these laws overturned, this is…

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May 27
3

Seniors Affected by the Coronavirus Pandemic Have More Time to Apply for Medicare or Change Plans

By | Elder Care, Legal info, Medicare

The closure of Social Security offices has caused problems and worries for recently unemployed seniors who need to apply for Medicare after losing their employer coverage. In response, the federal government has announced that seniors affected by the crisis have additional time to enroll in Medicare or change plans. With millions of people out of work and losing their employer health insurance due to the Coronavirus pandemic, the need for Medicare coverage is critical. While it is possible for some seniors to apply for Medicare online, others need to provide more information, including individuals who did not sign up for Medicare Part B initially because they had health insurance through an employer. Seniors who are applying for Medicare Part B after losing their job need to provide proof of their employer policy along with their Medicare application to ensure they aren’t subject to substantial penalties. With Social Security offices closed,…

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