-Seniors to Receive $250 Stimulus Payment

- What Happens If My Insurance Company Goes Belly-Up?

- Updated Guide on Pennsylvania Medicaid Annuities Now Available for Download

- Attorney Parker Teaches Consumer Class on Estate Planning & Elder Law in Jersey Shore

Marshall, Parker & Associates’ 13^th Annual Professional Update Set for May 7^th in Williamsport and May 8^th in Wilkes-Barre

-Learn How to Protect Your Family from Long Term Care Costs at our FREE Consumer Workshops in Lewisburg and Milford

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Seniors to Receive $250 Stimulus Payment

Written By: Attorney Jeffrey A. Marshall , CELA*

The Federal Government will be stimulating seniors this Spring.  A one-time $250 "economic recovery payment" will be delivered to nearly 55 million recipients of Social Security, SSI, Railroad Retirement and veterans disability compensation benefits under a provision of the recently enacted American Recovery and Reinvestment Act of 2009.

Recipients will receive a separate one-time stimulus payment.  The payment will not be included in your regular monthly payment; but it will be delivered in the same way as your regular benefit is, whether by check, direct deposit or debit card payment. Expect its arrival in late May, around Memorial Day.

Each family member who receives Social Security will get their own payment. For example, a husband and wife who each receive Social Security will get a total of $500. The stimulus payments are automatic. No action is required on your part.

More information on the Stimulus payments is available online at http://socialsecurity.gov/payment/

The Recovery Act includes a number of other provisions that may be of great benefit to seniors.

The Act provides an $87 billion temporary increase in the share of Medicaid that the federal government will pay over nine calendar quarters (October 1, 2008, through December 31, 2010). All states will receive a “base” 6.2 percentage point increase in their FMAP rate.  The FMAP is the percentage of a state’s overall Medicaid costs paid by the federal government.  This will mean over $4 billion in additional federal reimbursement for Pennsylvania.  This should help Pennsylvania maintain our Medicaid programs, including long-term care benefits for seniors, in the face of rising enrollment and dropping revenues without being forced to enact larger budget cuts and/or more tax increases.  

To receive any increased FMAP, however, a state’s Medicaid eligibility levels must not be more restrictive than they were on July 1, 2008.  Restrictions on eligibility include changes that make it more difficult for recipients to meet procedural requirements for enrollment or periodic renewal of their coverage. 

Other aspects of the Recovery Act which may be of particular interest to retirees include:

-          The loan limit for FHA-insured reverse mortgages is increased to $625,500.

-          Additional funding will allow the Social Security Administration to ensure that seniors and other beneficiaries receive their checks and improve handling of disability claims.

-          An increase in funding for senior nutrition programs such as Meals on Wheels.

-          Funding to enable doctors and hospitals to develop electronic health records.  This should help reduce medical errors, lower health care costs, and allow doctors and patients to better track symptoms and treatments.

-          Funding for health research to determine which treatments work best.

-          Funding to train more primary care physicians and nurses.

Attorney Marshall can be contacted at webmail@paelderlaw.com or at 1-800-401-4552. More information about Attorney Marshall is available on our website at www.paelderlaw.com/staff.html  

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What Happens If My Insurance Company Goes Belly-Up?

Written By: Patti Jo Turner, Planning Specialist

The current dismal economic situation has a lot of us worried about the stability of large financial institutions like banks and insurance companies. Many of the clients of Marshall, Parker & Associates have expressed concern about their insurance investments. 

You can find some comfort in knowing that the Commonwealth has some protections in place for insurance policyholders. In 1978, the Pennsylvania Life & Health Guaranty Association (the Association) was created. The membership is composed of all insurers licensed to sell life insurance, accident/health insurance, and individual annuities in Pennsylvania.  If one of the members is found to be insolvent, the Association will step up and provide some protection to policyholders who are PA residents.

The Association will take over the servicing and benefit payout of these contracts, or see that the policy is transferred to a solvent insurance company. If you need to claim benefits under your contract, your benefit is protected up to $300,000 per company by the Association.  If you seek to liquidate your contract, your cash value is protected up to $100,000 per company.

If you are interested in additional information, check out the Guaranty Association’s web site at www.palifega.org.

Patti Jo can be contacted at webmail@paelderlaw.com or at 1-800-401-4552. More information about Patti Jo is available on our website at www.paelderlaw.com/staff.html

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Updated Guide on Pennsylvania Medicaid Annuities Now Available for Download

Written By: Melissa Bottorf, Director of Education & Business Development

Pennsylvania elder law attorneys are more comfortable recommending the use Medicaid annuities thanks to the recent court decisions in the James and Weatherbee  cases. Federal Medicaid law has long allowed the use of annuities to protect assets; however, the Department of Public Welfare (DPW) has attempted to place limits on their use.  In the last few months, federal courts have stuck down DPW’s restrictions. 

Jeffrey A. Marshall, CELA* has updated his “Guide to Medicaid Annuities for Pennsylvania Lawyers” to explain the latest developments. The Guide also provides examples of how lawyers can use annuities to qualify their clients for Medicaid and protect them from devastating long term care costs.  

Marshall, Parker & Associates’ attorney Matthew Parker, CELA*, who was the lead attorney in James, discussed that case and Weatherbee during the National Academy of Elder Law Attorneys’ Teleconference entitled The Secondary Market on Annuities: An Analysis of James v. Richman on March 11, 2009.  His co-presenter was Shirley B.  Whitenack, a partner in the New Jersey law firm of Schenck, Price, Smith & King, LLP. 

A copy of Attorney Marshall’s updated Annuity Guide is available for free download at this online link: http://www.paannuity.com

Melissa can be contacted at webmail@paelderlaw.com or at 1-800-401-4552. More information about Melissa is available on our website at www.paelderlaw.com/staff.html

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Attorney Parker Teaches Consumer Class on Estate Planning & Elder Law in Jersey Shore

The Jersey Shore Area High School is offering their community education classes on an array of topics this spring.  Attorney Matthew Parker will once again teach a class entitled What You Need to Know about Estate Planning & Elder Law.  The class will run for two consecutive Thursday evenings on April 2^nd  and April 9^th from 6:30 PM until 8:00 PM in room B-213 at the Jersey Shore Senior High School.  The class is offered free of charge and is open to anyone.  Registration is required and can be completed online or by e-mailing John Wilt at jwilt@jsasd.k12.pa.us.

During the first class, Attorney Parker will cover the Essentials of Estate Planning, including wills, powers of attorney, advance directives and the use of asset protection trusts.  The second class will discuss Ways to Pay for Long Term Care including protecting your home, long term care insurance and Medicaid planning.

Space is limited.  Please register online to reserve your spot.

Melissa can be contacted at webmail@paelderlaw.com or at 1-800-401-4552. More information about Melissa is available on our website at www.paelderlaw.com/staff.html

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Marshall, Parker & Associates’ 13^th Annual Professional Update Set for May 7^th in Williamsport and May 8^th in Wilkes-Barre

Marshall, Parker & Associates is pleased to announce that our 13^th Annual Professional Update will be held on May 7, 2009 at the Genetti in Williamsport and May 8, 2009 at the Woodlands in Wilkes-Barre. Each session will be held from 7:30 AM until 12:00 PM.

Over the last thirteen years, this event has grown into one of the most highly anticipated elder care events in the region.  We have a great line up of local and national experts on issues affecting our elderly clients. With over 250 elder care colleagues at each session, and a variety of sponsor exhibit tables, the morning will be packed full of great networking opportunities for everyone.  As always, registration is FREE and continuing education credits will be available for some professionals at little or no charge.  

For a full line up of our speakers, for information on how your company can sponsor the event, and to register, please visit the Professional Update website at www.paelderlaw.com/2009_Professional_Update.html

Marshall, Parker & Associates would like to thank our growing list of generous sponsors:

SouthernCare Hospice

Elmcroft of Loyalsock & Lewisburg

Comfort Keepers in Williamsport & Hazleton

The Susquehanna Health Foundation

Elder Care Solutions, a non-profit guardianship company

Mowery Associates, Inc

The Laurels- Senior Living at its Peak

Citizens & Northern Trust & Financial Management Group

Social Work Department of Misercordia University  

If you have questions, please contact Melissa at mbottorf@paelderlaw.com or at 570-321-9008 x.203.

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Learn How To Protect Your Family from Long Term Care Costs

at our FREE Consumer Workshops  

-Saturday, March 28, 2009 from 10:00 AM until 12:00 PM at The Lewisburg Hotel, 136 Market Street in Lewisburg

-Saturday, March 28, 2009 from 10:00 AM until 12:00 PM at The Cliff Park Inn, 155 Cliff Park Drive in Milford

 More information available on our website at www.paelderlaw.com/workshops.html  

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Contacting Marshall, Parker & Associates for Assistance

Marshall, Parker & Associates is a nationally recognized law firm which provides long-term care planning, estate planning & estate administration services to Pennsylvania clients from our offices in Jersey Shore, Williamsport, Wilkes-Barre and Scranton.

If you or someone you know needs assistance with estate planning or with qualification for Medicaid benefits for nursing home or home care, please call us toll free at 1-800-401-4552.

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*Attorneys Marshall, Parker & Grebas are certified as Elder Law Attorneys by the National Elder Law Foundation under authorization from the Pennsylvania Supreme Court

**In addition to her law degree, Attorney Colbert holds an advanced legal degree (LLM) in Estate Planning from the University of Miami School of Law.

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