There was too little information from that meeting to justify a newsletter, so instead, you are getting this email update.
If that occurs, there may be a need to go back to recipients to collect funds for the support for the Applicant. Some of the unexpected expenses that may not be covered by insurance during the private pay period include: Daily rate of maintaining a bed while the Applicant has gone to a hospital for more care; Hearing aids and other medical aides that may not be provided or protected by insurance; Extraordinary medical expenses not covered by basic or medigap insurance plans i.
Exceptions to the Asset Transfer Rule First, the asset transfer rule does not apply to transfers of assets between spouses. Second, the rule does not apply to Applicants who are not in a nursing home e.
Fourth, transfers of certain exempt assets such as an automobile, household furniture, appliances and household equipment are not subject to the asset transfer rule.
This can be quite substantial. If the Community Spouse refuses to provide the level of support mandated under Medicaid by executing a Spousal Refusal Statement, the only remedy DSS can pursue is a court order requiring the Community Spouse to support the Institutionalized Spouse.
Further, Medicaid is only allowed to pursue this remedy during the life of the Community Spouse.
As a practical matter, Medicaid has generally not sought such court orders in Central New York, although there have been some rare instances where Medicaid has pursued a claim.
Even if Medicaid did pursue a refusing spouse in court, the court is likely to be a much friendlier forum for the claims of the Community Spouse than Medicaid.
In addition, with all the added costs and delays associated with litigation, Medicaid is often willing to compromise with the Community Spouse rather than take the Community Spouse to court.
It is important to note, however, that it is expected, and it is likely that, Medicaid will change its stance in the future and pursue the Community Spouse for support.
This trend has been prevalent in the New York City area and is moving Upstate. At this time, Medicaid still does not regularly pursue Community Spouses who sign a spousal refusal statement, but Medicaid personnel in Onondaga County and surrounding counties have at least threatened to start pursuing the Community Spouse.
One should be aware that this is a very aggressive planning technique, and there is always the possibility of litigation. There are a few caveats to mention with the purchase of annuity. One, the annuity must be actuarially sound, irrevocable, non-assignable and have no cash value in order to be a Medicaid Qualified Annuity.
Two, the individual is only entitled to a certain amount of income after becoming Medicaid eligible. The following applies to any annuity purchased on or after February 8, Reserving a life estate entitles the individual to continue to receive all of the real estate tax exemptions i.
For many elderly clients, this is very important to know because they rely on those tax exemptions each year. Therefore, if the Primary Residence is ever sold, the amount of the proceeds received by the individual Medicaid recipient retaining the life estate could be substantial.
Another problem with such a transfer is if there is any outstanding mortgage or debt on the property. Mortgage payments must still be paid on the property, otherwise the bank or creditor could foreclose on the property.
By transferring the Primary Residence into an IIOT, the individual s retains the right to all of the income earned by the trust and is the taxpayer for the trust. Traditionally, this was treated as the equivalent of the individual retaining the right to live in the Primary Residence for the individual s remaining lifetime s thereby entitling the individual s to continue to receive all of the real estate tax exemptions i.
This is similar to transferring the Primary Residence and reserving a life estate. Therefore, for Primary Residences in the City of Syracuse, individual s may lose the real estate tax exemptions if the specific language is not included in the IIOT.
The downside to including this specific language in the IIOT is that Medicaid may now equate that retention to the equivalent of a life estate and the benefit of the IIOT, described in the paragraph below, may be lost. The benefit of transferring the Primary Residence into an IIOT is that if the Primary Residence is ever sold, the trust receives all of the proceeds of sale, not the individual.
The individual is still only entitled to receive the income earned by the trust. If this happens, all the individual s will receive is the income earned from the sales proceeds of the Primary Residence if a successor residence is not purchased.
Thus, it is very important to discuss all these options with the individual s and their family. The children will pay the parent the mortgage amount each month and the parent s will then pay the children a monthly mortgage amount for the right to live there. The mortgage must be commercially reasonable i.
Long-Term Care Insurance A long-term care insurance policy allows an individual to transfer a portion of the costs of long-term care to an insurance company in exchange for regular premium payments.
If an individual is eligible for a long-term care insurance policy, the yearly premiums will always be less the yearly cost to privately pay for the nursing home. It has become increasingly more difficult to obtain long-term care insurance policies because of the escalating costs to the insurance companies to cover the benefits promised under those policies.Every enterprise requires business analytics and decision support systems (DSS) in order to develop a competitive advantage.
This is an introductory course using MS Excel for Windows, the foundational data analysis tool, to build on the skills and concepts covered in basic computer application courses.
Decision Support Systems (DSS) are a class of computerized information system that support decision-making activities. DSS are interactive computer-based systems and subsystems intended to help decision makers use communications technologies, data, documents, knowledge and/or models to complete decision process tasks.
12c hidden undocumented parameter list Oracle Database Tips by Donald BurlesonJune 30, The benefits of a decision support system (DSS) can be subtler than those of other systems. This chapter identifies benefits from various DSSs as described in the literature and categorizes them.
History. Prior to in Australia, charitable assistance from benevolent societies, sometimes with financial contributions from the authorities, was the primary means of relief for people not able to support themselves. The s economic depression and the rise of the trade unions and the Labor parties during this period led to a movement for welfare reform.
I. Introduction In the DSS literature, experts prescribe a variety of approaches or methodologies for designing and developing Decision Support Systems.