Articles Posted in Health Care Planning

Statistics indicate one of every four children will have a childhood mental illness. And in Texas, in 2020, over 500,000 children were diagnosed with anxiety or depression. If you have a child or teen with mental health needs, you are not alone. But many families fail to consider mental health needs when planning for public benefits.

Public benefits programs like Medicare and Medicaid cover mental health services in addition to more traditional health care. Families that make over a certain income level may think they do not qualify for these programs. But these programs often increase access to health care and include benefits and programs not available under traditional employer-provided insurance, so it’s worth determining if your family qualifies via benefits planning or other income levels. In addition, Texas has programs for children of families that do not qualify for Medicaid. There are certain estate planning tools that can help aid in Medicaid qualification, such as Miller Trusts or lady bird deeds.

Medicare Coverage

Medicare is a federal health care program administered by the federal government and is available to anyone regardless of income, so long as they are over 65 years of age or have a specific disability. Medicare covers a wide range of mental health services but does not cover most long-term care costs. And Medicare patients may have to pay deductibles, copays, and other out of pocket costs. Medicare Part B covers outpatient mental health services that can include partial hospitalization, depression screenings, diagnostic testing, individual or group psychotherapy, and other medication and counseling needs. Medicare Part A covers inpatient mental health care at a regular or psychiatric hospital.

Continue reading

Society as a whole has experienced unexpected and overwhelming changes over the past year. These changes have undoubtedly caused people to consult with their Houston estate planning attorneys to address their long-term goals. Recent surveys by TD Wealth highlight several issues that have impacted estate planning.

Healthcare Costs Skyrocket, But That’s Not the Only Problem

As Americans continue to live longer, many families incur hefty healthcare costs long after they stop working. The surveys reveal that rising healthcare costs combined with market volatility present significant challenges to those creating Houston estate plans. Previously market researchers from TD Wealth found that one of the most significant threats to effective estate planning came from familial conflict.

Thinking about end-of-life treatment is often stressful and overwhelming. However, planning ahead can often be the difference between having a medical professional follow your wishes and risking the alternative. A way to keep control over medical care is by filling out a Physician Order for Life-Sustaining Treatment (POLST) form. A POLST form provides important medical decisions for emergency medical personnel to follow. The order can be applied at any place of treatment and includes decisions like whether or not to administer cardiopulmonary resuscitation (CPR). Below are common explanations about POLST forms and their necessity for those engaging in the Houston estate planning process.

What is a POLST Form?

A POLST form is a physician order set that travels with a patient from one place of treatment to another. The form discusses the patient’s preferred method of treatment, specifically regarding CPR status, intensity, and use of additional methods like antibiotics. The individual fills out the form and it is signed by a physician. When the patient is transferred to another location—or is discharged—the form literally goes with them.

10.23.19Any high-income professional must expect that at some point there will be a bad outcome and a lawsuit against them and/or their practice. Doctors, in particular, need to be sure that they have the correct protection in place.

Whether you are a surgeon, chiropractor or cardiologist, at some point in time, some patient is going to commence a lawsuit alleging malpractice, warns Physician Sense in the article “The Do’s and Don’ts of Asset Protection for Doctors.”

With a good chance of being involved in a malpractice suit at some point in your career, the time to think about protecting your assets is right now, before a patient sues. After the fact, this might look like a way to avoid a creditor. Many courts will cancel those actions.

5.9.19.jpegNearly half of American households older than 55 have no retirement savings. The U.S. Government Accountability Office says that this number is actually better than in the past.

According to the article from CNBC, “These people are on the verge of retiring—and they have nothing saved,” an analysis of the Federal Reserve’s Survey of Consumer Finances shows that 52 percent of households had nothing saved for retirement in 2013. The number is now at 48 percent. It is not much of an improvement.

If your household is behind on retirement savings, here’s what you can do:

MP900438735We understand people are living longer and many live into their 90s. More than 25 percent of seniors living at home receive help with day-to-day living activities. Ten percent of seniors older than age of 80 live in a long-term care facility. Have you made prudent plans for longer living?

Medical issues associated with aging are most apt to be the reason life gets expensive during your later years. It’s very useful to look forward and understand the types of medical issues that could happen down the road. That’s the advice from a recent article in the Oakville (ONT) Beaver titled“Living in your later years can be expensive – plan ahead.”Americans, just like our friends to the north, need to better understand how to plan for the future. This article gave some interesting perspectives on the aging process. Here are some facts:

  • People are living longer and many live into their 90s.
Contact Information