News & Resources: Blog

Case Study: Estate Planning

Published: April 2, 2021

When John and Carol reached out to Scott Bloom Law, they knew that changes had to be made in regards to the living arrangements of their mother, Diane. Living alone, Diane had begun to show signs that many children recognize when their parents are no longer able to take care of themselves. Forgetting to pay bills, the inability to maintain proper hygiene and missing doctor’s appointments were tell-tale signs that are recognizable to many families. Unfortunately, as is often the case, convincing Diane that a change had to be made was difficult. After the team at Scott Bloom Law spoke with Diane, we were able to compassionately explain the need to relinquish some control and the necessity of giving one of her children Power of Attorney so that, when needed, they could make the best decisions for her. Diane eventually came around, giving her son Power of Attorney, with her daughter as back-up.

Over time, it became increasingly apparent that Diane was no longer going to be able to live alone. It simply wasn’t a safe environment for Diane anymore and John and Carol were constantly worried. On top of this, money was starting to become an issue. For various reasons, Diane’s funds were not at the levels that she or her children believed. The idea of hiring a caretaker while Diane continued to live independently was suddenly off the table. The family needed a solution that would allow Diane to be safe while living as independently as possible.

With the experienced team at Scott Bloom Law to guide them, the family was able to explain to their mother that without finding new living arrangements immediately, there would be a chance that she ended up in a nursing home, which the family wanted to avoid. Working with the family, we were able to find an assisted living facility that met Diane’s needs and allowed her children the peace of mind that if mom outlived her funds, that Medicaid could be utilized without moving again. As is often the case, convincing mom that these changes needed to occur was the toughest part. With the help of Scott Bloom Law, we were able to explain to her that, though not ideal, a change in her living arrangements was the best possible outcome for herself and her children.

At Scott Bloom Law, we have the experience and breadth of knowledge necessary to understand and advise on all aspects of eldercare issues. With compassion, honesty, and attention to detail, the team at Scott Bloom Law will be there every step of the way for you and your family, providing a plan and offering guidance through the elder law legal process. Get in touch with us today for a free consultation.

CLIENT Testimonial

It can be quite confusing to determine which Medicare plan is best for you. There are several types of plans, and each has its own advantages and disadvantages. Understanding some basic features will help you decide how to maximize your healthcare dollars and choices. You should review your choice periodically, especially as elements of the Inflation Reduction Act of 2022 change prescription medication and vaccine policies. Coverage can also change from year to year..

There are three basic types of plans:

Original Medicare
Medicare Advantage
Medigap

Original Medicare

Medicare is a government health insurance plan for people 65 and older. Original Medicare, sometimes called traditional Medicare, comes in several parts. Each part covers different things and has various associated costs.

Most people do not pay for Part A as it was deducted from their taxes paid while working. It is primarily for hospital visits and nursing care. However, there are many fees associated with being in a hospital that Medicare does not cover, which you still might have to pay out of pocket.

Part B requires monthly premiums, which can be deducted from your social security. You can elect to enroll in part B through Original Medicare. It covers a portion of doctors' visits, durable medical goods, and more.

Part D covers the cost of many prescription medications. You can add it to Original Medicare or purchase it as part of a Medicare Advantage plan.

Medicare Advantage

Medicare Advantage is offered through private insurance companies that Medicare approves. Most plans include Parts A, B, and D of Original Medicare with some variations from the original. There are a wide variety of Medicare Advantage plans, including Preferred Provider Organizations (PPO) or Health Maintenance Organizations (HMO). PPOs tend to have higher premiums and offer more choices than HMOs. Medicare Advantage HMOs and PPOs often have higher premiums than traditional Medicare because they usually cover more expenses, including prescription drug costs, vision, hearing, and dental.

However, the overall costs, premiums, plus out-of-pocket expenses for Advantage plans can be lower than Original Medicare because the private insurers manage patient care and limit choices. They assemble networks of hospitals and physicians to control their costs and reduce their customer's premiums. They also restrict access to certain providers and increase the cost of care obtained out-of-network.

Traditional Medicare allows people to seek care from any provider participating in Medicare, which includes virtually all hospitals and physicians.

Medigap

Medigap is a co-insurance or supplement to Original Medicare. You can enroll when you first enroll in Part B. It is also available through Medicaid, a union, or a former employer when you qualify for both programs. You can’t have both Medicare Advantage and Medigap plans. Medigap helps cover expenses that Original Medicare does not cover, such as co-pays and deductibles. Due to the enrollment restrictions, you should strongly consider Medigap when you first become eligible.

The Right Choice for You

With all the different plans, parts, choices, and restrictions, it is crucial to consider your priorities for care. Limited access to doctors and hospitals may become important if you need specialized medical care, such as cancer treatment. Before enrolling, consider what specialty hospitals are included in Advantage plans. Likewise, Advantage plans can make it difficult to see a specialist for ongoing and chronic conditions due to limitations in long-term care services. An estate planning lawyer or elder law attorney can help address long-term care planning and the potential to qualify for Medicaid when necessary.

The Kaiser Family Foundation has put together a cost analysis to help you determine when Medicare Advantage would save you money. As you can see, the longer you stay in the hospital, the less advantageous an Advantage plan becomes.

Consumer Reports notes that the JAMA reported that seniors on Advantage plans often get more preventive care than those on traditional Medicare plans. JAMA published a comprehensive paper about how Medicare plan choice affects spending and discovered that Medicare Advantage enrollees usually spend less.

A Guide in Choices after 65

Enrolling in the right Medicare coverage is one of many decisions that will affect your quality of life in your senior years. We are here to help you navigate a wide variety of choices.

If you have questions or would like to discuss your legal matters, please do not hesitate to contact our office at 215-364-1111 to schedule a consultation.

- Medigap, Medicare Advantage, and Traditional Medicare

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CLIENT Testimonial

Attorney Scott Bloom is a God send in difficult times. He is caring, knowledgeable, answers questions promptly with clarity, honesty, and accuracy. Scott is compassionate and works with the client as if he is part of the family. I consider myself blessed to have found Mr. Bloom to take care of my family's elder care business.

- Nahla F., Upper Freehold, New Jersey

PRACTICE Areas

NEED Legal Help?

Schedule An Appointment

Call Today: 215-364-1111
Toll Free: 855-992-6337