Aging in Place is a phrase used by many industries to describe our desire to stay in our homes as we age, to put off going to a nursing home or assisted living facility as long as possible. There are a few common myths among those who are considered middle-aged that need to be cleared …
Medicare’s Extra Help Program. Also referred to as Low Income Subsidy (LIS), the Medicare Part D Extra Help program, administered by the Social Security Administration, was created to help people with limited incomes pay for prescription drugs. Eligible beneficiaries who have limited income may qualify for a government program that helps pay for Medicare Part D prescription drug costs. Medicare beneficiaries …
Economic recessions and recoveries affect retirement and savings accounts. Inflation increases daily living expenses. Whether or not frugal habits are in place, those who are aging and entering the elderly population experience reduced spending power – they have less to spend and must focus on needs first over wants. This can be …
The deduction for qualified medical expenses has survived yet another round of tax reform. The IRS will allow a tax payer to deduct expenses that exceed 7.5% of their adjusted gross income for 2017 and 2018. Beginning in 2019, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for …
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