New research shows that many senior citizens would benefit from professional planning advice.
BY ROBERT TIE
A survey of 500 people
age 65 and older found serious deficiencies in
their understanding of how Medicare covers nursing
Sixty-three percent of
respondents didn’t know basic facts about Medicare
nursing facility benefits.
people entitled to Medicare, a benefit period
starts the day they enter a hospital for at least
three days of covered care and ends when they have
been out of the hospital or a skilled nursing
facility for 60 consecutive days. A new benefit
period begins—and beneficiaries are entitled to
another 100 days of long-term care coverage in
such a facility—the next time they spend at least
three covered days in a hospital. There is no
limit to the number of coverage periods
beneficiaries can have.
respondents knew the least about limits on
Medicare long-term care coverage.
to rounding, figures do not add up to 100%.
Source: Wegge Strategic
Research, De Pere, Wisconsin and CareQuest Inc.,
Madison, February 2001, www.carequestplus.com
Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.
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