Medicaid

Tax bill could end to the Medical Expense Deduction! Let’s save it…

Tax bill could end to the Medical Expense Deduction! Let’s save it…

Federal Tax Change Update: Proposed Elimination of Medical Expense Deduction

Ending the Medical Expense Deduction Would Harm Many Individuals Paying the High Cost of Long-term Services and Support. On Thursday, October 3rd, House Republicans released a tax bill that proposes to end the Medicaid Expense Deduction.

WHAT WOULD HAPPEN?

How Does the Medical Expense Deduction Help Individuals with Long-term Services and Support (LTSS)?

Currently, the federal tax code allows deduction of “qualified long-term care expenses” for people who are “chronically ill,” those unable to perform two or more “Activities of Daily Living” without assistance, or who have a “severe cognitive impairment” such as Alzheimer’s disease. These expenses are usually catastrophic, requiring many Americans to spend large portions of their income and to liquidate resources.

The Medical Expense Deduction For Individuals with LTSS

This applies only to those expenses above 10% of Adjusted Gross Income and when a taxpayer itemizes their deduction. “Chronically ill individuals” can use this provision.  If Congress ends the Medical Expense Deduction, many Americans paying for Long-Term Services and Supports (LTSS) will face the double cost of both chronic long term care and federal income tax.

Impact of Ending the Medical Expense Deduction may include:

  • Eviction From a Care Facility: Without the deduction, individuals paying privately for LTSS may not have the funds to pay their tax liability and the nursing facility, leading to eviction from the facility.
  • Uncollectible Tax From Some Medicaid LTSS Populations: Individuals on Medicaid must contribute a substantial portion of their income to Medicaid as part of the “spend down program”.  They will not have any funds to pay this new tax liability.
  • Hurts Family Caregivers: Children can also use this deduction if they pay for more than half of a  parent’s care. Eliminating this deduction will negatively impact a child paying for a chronically-ill parents needs.
  • Increased Reliance of Government Programs: Many middle- and working-class individuals “spend-down” their resources to qualify for Medicaid. Without a tax subsidy, the eligibility process will be faster and will place a larger burden on an already stressed federal/state Medicaid system.

WHAT CAN YOU DO?

  1. Write to us and tell us how this tax proposal will impact your family’s/client’s long term care plans; how it will affect your family’s financial well being, and any other concerns that you may have. Grimaldi and Yeung will be sending a packet to the congressional leaders drafting this legislation and we would like to include your comments and concerns.
  2. Write directly to your congressional representatives. For information on who your representative is, please click here.

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GRIMALDI & YEUNG LLP
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

Complimentary Breakfast Seminar: “Medicaid Planning & Asset Protection Trusts”

Complimentary Breakfast Seminar: “Medicaid Planning & Asset Protection Trusts”

Grimaldi & Yeung LLP is hosting an upcoming Complimentary Breakfast Seminar:

Judith D. Grimaldi & Naomi Levin will be presenting:

“Medicaid Planning & Asset Protection Trusts”

When:
Thursday, October 12, 2017
8:30 AM to 10:30 AM

Where:
Fifth Avenue Diner Restaurant
432 5th Avenue (Btwn. 8th& 9th Sts.)
Brooklyn, NY 11209

MUST RSVP by October 9th: mcoppola@gylawny.com or (718) 238-6960

PRINTABLE FLYER

GRIMALDI & YEUNG LLP
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

New York State’s Home Care Worker Wage Parity Law will be applicable to Personal Assistants

New York State’s Home Care Worker Wage Parity Law will be applicable to Personal Assistants

POLICY ALERT:  Effective October 13, 2017, New York State’s Home Care Worker Wage Parity Law will be applicable to Personal Assistants providing home care and related services through the Medicaid CDPAS program.  The Wage Parity Law establishes a minimum rate of compensation for any home care aide providing services that is paid for by a government agency.

The Wage Parity Law is already applicable to other categories of home care aides, including home health aides, personal care aides and home attendants employed by certified home health agencies, long term home health care programs and managed care plans.  The requirement to pay more to home care aides means that the “overhead” costs of providing care will increase.

If State funding of the Medicaid program does not also increase, this creates an incentive for managed care plans and their vendors to limit home care service hours.  This has negative consequences for the people in need of care, and for the people who earn their living providing it.

GRIMALDI & YEUNG LLP
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

New Medicare cards: more protection to over 55 million Americans

New Medicare cards: more protection to over 55 million Americans

To prevent fraud and illegal use, the new Medicare cards won’t include Social Security numbers

The Centers for Medicare & Medicaid Services is preparing a fraud prevention initiative that removes Social Security numbers from Medicare cards to help prevent identity theft.

The new cards will use a unique, randomly-assigned number called a Medicare Beneficiary Identifier, to replace the Social Security-based Health Insurance Claim Number currently used on the Medicare card. The Centers for Medicare & Medicaid Services will begin mailing new cards in April 2018 and will meet the congressional deadline for replacing all Medicare cards by April 2019.

Providers and beneficiaries will both be able to use secure look-up tools that will provide access to the Medicare Beneficiary Identifier number when they need them. There will also be a 21-month transition period where providers will be able to use either the Medicare Beneficiary Identifier number or the Social Security-based Health Insurance Claim number to help ease the transition for a comprehensive plan for the removal of Social Security numbers and transition to the Medicare Beneficiary Identifier numbers.

Read full press release here

Personal identity theft affects a large and growing number of individuals, especially people age 65 or older who are increasingly the victims of this type of crime. Identity theft can take not only an emotional toll on those who experience it, but also a financial one. It can also disrupt lives, damage credit ratings and result in inaccuracies in medical records and costly false claims.

For more information about Social Security, visit the Centers for Medicare & Medicaid Services website

 

GRIMALDI & YEUNG LLP:
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

How Does Medicaid Work and What’s at Stake Under a Block Grant or Per Capita Cap? A Video Slideshow Illustrates.

How Does Medicaid Work and What’s at Stake Under a Block Grant or Per Capita Cap? A Video Slideshow Illustrates.

new video slideshow from the Kaiser Family Foundation explains how Medicaid works now and what is at stake as policymakers in Washington consider converting program financing to a block grant or per capita cap.

Courtesy of the Kaiser Family Foundation

The 3-minute video describes how Medicaid works and is financed under current law, whom it covers and how spending is distributed across various groups of enrollees, including children, adults, seniors, and people with disabilities. It shows, for instance, that although seniors and people with disabilities comprise about a quarter of Medicaid enrollees, they account for nearly two-thirds of Medicaid spending because they have more complex health needs and therefore higher per person costs.

GRIMALDI & YEUNG LLP INFORMATION:
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.

Brooklyn Chamber of Commerce Shines Surprise Spotlight on Grimaldi & Yeung on Workforce Wednesday!

Brooklyn Chamber of Commerce Shines Surprise Spotlight on Grimaldi & Yeung on Workforce Wednesday!

Wednesday, January 25, 2017 – Grimaldi & Yeung LLP is honored to be featured in today’s Brooklyn Buzz, published by Adam Kilduff and the Brooklyn Chamber of Commerce.

See the post here, highlighting Partner Regina Kiperman and Senior Associate Naomi Levin’s article for the New York State Bar Association on elder law and Medicaid.

 

GRIMALDI & YEUNG LLP INFORMATION:
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036