Medicare Part D – Part 2

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What happens if I have Medicaid?If you currently have Medicaid, you will lose your Medicaid prescription drug coverage on January 1, 2006 and will automatically be enrolled in a new plan through Medicare. In October 2005, letters will be mailed out to Medicaid recipients alerting them which plan they will …

Facts About Long-Term Care

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Each year, consumers spend about $40 billion out-of-pocket for long-term care services.1 This does not include the cost of informally provided care; about two-thirds of persons with long-term care needs receive services from unpaid help only.2 Advance planning can help consumers age in place and make optimal use of available …

The Long Island Community Foundation

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The Long Island Community Foundation is a part of the nation’s fastest growing form of philanthropy. The LICF is an economic alternative to a private foundation or a commercial gift fund. The Long Island Community Foundation, a division of The New York Community Trust, distributes more than $12 million annually …

Capital Gains Laws Changing Soon

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A life estate is created when you transfer ownership of your house to someone else (usually your children) but reserve the right to exclusive use and occupancy for the rest of your life. After Medicaid “look-backs” and penalties have run their course, the house is deemed protected from Medicaid, should …

Social Security: Not Just for Retirees

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The rate of return debate diverts attention from the fact that Social Security is much more than just a successful retirement program. Retired workers account for only 29,953,000, 62.8 percent of Social Security’s 47,688,000 beneficiaries. More than 3 million beneficiaries are spouses and minor or disabled children of retired workers, …