Prior to 2023, the maximum amount that a person could gift without filing a gift tax return was $16,000 per person. If an individual transferred gifts worth more than $16,000 to one person in a year, then the person who…
Author: markelderlaw
National Elder Law Month 2023
May is designated as National Elder Law Month by the National Academy of Elder Law Attorneys (NAELA). Elder law attorneys address the legal needs of elderly people including long-term care planning and financing, Medicaid planning, estate planning, Wills, Trusts, and…
Changes in Medicare Part B Premium for 2023
Medicare Part B provides coverage for services by a physician, outpatient hospital services, durable medical equipment and other health services that are not covered by Part A. Each year the Medicare Part B premium is revised based upon federal law. …
Medicare Changes Daily Co-pay
If a person who is on Medicare requires therapy, rehabilitation or skilled care in a facility, then Medicare may pay a portion of that person’s care in the facility. According to federal law, that individual must have been in a…
Medicaid Income Cap 2023
Medicaid has strict rules with respect to eligibility requirements for assistance to pay for a person’s long-term care. An individual must satisfy the resource and income requirements for Medicaid eligibility. New Jersey requires that an individual’s gross monthly income be…