Blog

Medicare - When is the Initial Enrollment Period (IEP)

Craig Marcott

Monday, April 4, 2022

Question: I plan to continue working past age 65.  When is my Initial Enrollment Period?

Which Medigap plan is better?

Craig Marcott

Tuesday, March 29, 2022

Question: Which Medigap plan is better?  Plan G or Plan N? My Response: Your decision will depend on your circumstances...

Medicare - Costly Mistake

Craig Marcott

Tuesday, March 22, 2022

Q:  Is Medicare primary or secondary, and how does that influence my decision when enrolling in Medicare?

Medicare and COBRA

Craig Marcott

Tuesday, March 15, 2022

Q: Does COBRA count as creditable health insurance which would allow me to delay enrollment in Medicare Part B?

Medicare - Parts VS Plans

Craig Marcott

Tuesday, March 8, 2022

Q: I’m confused about the letters people use when they refer to Medicare.  They seem to be talking about different things.  Can you explain what people are talking about?

Turning 65 and choosing a Medigap Plan

Craig Marcott

Tuesday, March 1, 2022

Question:  I’m going to be turning 65 in 6 months and plan on enrolling in Medicare so that it begins the month I turn 65.  What do I need to consider when choosing a Medigap plan in New York?...

Medicare Plans - Medigap VS Medicare Advantage

Craig Marcott

Tuesday, February 22, 2022

Q: I’m on a Medigap plan so I pay a premium each month. Most of my friends have a Medicare Advantage plan with no premium and laugh at me...

Updated Premiums and Deductibles for Medicare in 2022

Craig Marcott

Friday, December 3, 2021

As Medicare’s open enrollment period is due to end December 7, recipients of the program are preparing for a larger-than-expected jump in prices for premiums and deductibles.

Funding a Special Needs Trust

Craig Marcott

Tuesday, November 16, 2021

Two of the most often-asked questions I receive is “How much money do I need to fund my child’s trust?” and “How can I fund a trust for my child when I don’t have the money now?” Let’s address...

Why You should Consider a Medigap High-Deductible Plan If You Live in New York

Craig Marcott

Thursday, October 21, 2021

WHY YOU SHOULD CONSIDER A MEDIGAP HIGH-DEDUCTIBLE PLAN IF YOU LIVE IN NEW YORK Choosing the right Medicare plan can potentially save you hundreds or even thousands of dollars per year and tens of thousands of dollars or more over your...

October Is Breast Cancer Awareness Month

Craig Marcott

Wednesday, October 6, 2021

October brings to mind the beauty of the leaves changing colors and a time to enjoy the colder weather. But October also holds another meaning for millions of people: it’s Breast Cancer Awareness Month.Based on the numbers,...

Considerations During Medicare’s Open Enrollment

Craig Marcott

Friday, October 1, 2021

How long has it been since you’ve reviewed your Medicare policy? With open enrollment fast approaching, there are a few questions you may want to ask yourself before you renew, add, drop, or switch coverage.Have you switched...

Celebrate National Hispanic Heritage Month

Craig Marcott

Wednesday, September 29, 2021

From Sept. 15 to Oct. 15 we celebrate National Hispanic Heritage Month. It’s time to honor the culture and contributions of the Hispanic and Latin Americans that make up our great nation.National Hispanic Heritage Month started...

Medicare Advantage vs Medigap

Craig Marcott

Thursday, August 26, 2021

Q: Should I choose a Medicare Advantage plan or a Medigap plan? A: Each option has its advantages and disadvantages. Medicare Supplement Insurance plans, also known as Medigap plans: Allow you to go to any doctor or hospital in the U.S...

Planning For The Future of Your Special Needs Child

Craig Marcott

Monday, August 16, 2021

Planning For Your Special Needs Child Every family is different, and each of us must create financial strategies with our particular circumstances in mind. This is especially true forfamilies that care for children with special needs....

The Cost Of A Gold Medal

Craig Marcott

Friday, August 6, 2021

The 2020 Tokyo Olympics wrap up with closing ceremonies on August 8, and it’s been an Olympic games like no other. We’ve watched the world’s finest athletes go for the gold. Which leads many to wonder: what exactly...

HAPPINESS IS A SERIOUS PROBLEM

Craig Marcott

Wednesday, November 25, 2020

Happiness Is a Serious Problem Happiness is a serious problem for many people, especially in our current COVID-19 environment. You only need to look as far as Facebook and other forms of social media to confirm this. Happiness is even...

How to Save Money on Your Medicare Prescriptions

Craig Marcott

Thursday, November 12, 2020

How to Save Money on Your Medicare Prescriptions Reviewing your Medicare prescription drug plan each year can potentially save you hundreds or thousands of dollars annually on your prescription costs. The more medications you take and...

Medicare Explained

Craig Marcott

Wednesday, November 4, 2020

Medicare Explained No matter how we spin it, Medicare is not as easy as it looks. This blog is going to attempt to help explain some of the basics about Medicare. You will learn how it works. You will understand Medicare Part A and...

Medicare Vs. Medicaid

Craig Marcott

Wednesday, November 4, 2020

Medicare Vs. Medicaid Medicaid Medicaid is a means-tested program, which means that eligibility is based on a person’s income and assets. It is administered by the state, in accordance with the federal government. Medicaid...

One of the best-kept secrets when it comes to guardianship and end-of-life decisions is the MOLST and the OPWDD checklist. I was recently sucked into the MOLST black hole when I attempted to implement end-of-life decisions for my...

The Gift

Craig Marcott

Tuesday, February 5, 2019

Many years ago my parents received a gift that they never asked for. My mother grieved for six months when she discovered that her youngest child, Scott, had been born with Down syndrome. It was routine for doctors in 1961 to advise...

Advocacy In a Nutshell

Craig Marcott

Tuesday, January 2, 2018

What happens when you are no longer around to care for your disabled child? As you get older, this question becomes increasing relevant and, for many parents, a serious problem. If you are elderly and your child has been living at home...

Approximately 66% of disability claims are being denied at the initial claims level. Considering the importance of Supplemental Security Income (SSI) and Medicaid to a special needs child and the new pilot program governing the appeals...

New York State is going through a difficult economic period which has resulted in significant budget cuts and reduced services to the developmentally and intellectually disabled (DD/I) population. This is not limited to New York. All...

“Of all the forces that make for a better world, none is so indispensable, none so powerful, as hope. Without hope people are only half alive. With hope they dream and think and work.” –Charles Sawyer Does special...

Second-to-Die Life insurance, sometimes known as Survivorship insurance, is a type of permanent life insurance which is frequently used to fund a special needs trust (SNT). Characteristics of Second-to-Die insurance: It is permanent...

How can you be guaranteed to make a small fortune? Answer: Start with a large fortune and then invest poorly. Fortunately, life insurance does the opposite. You can take a relatively small amount of money and convert it into a larger...

In a different age and under vastly different circumstances, the late Chinese leader Deng Xiaoping once talked about crossing a raging river by “feeling the stones underfoot.” All of us— agencies serving the...

Below are a few questions you may want to ask yourself if you are the parent of a special needs child. Do you have a will? Do you have a Special Needs Trust? If so, have you arranged to properly fund the Trust? Are you aware of the...

I have completed many 17-A guardianship petitions for clients over the past 6 years. Some parents, however, choose to complete the petition themselves. For those of you who wish to take this path, I have compiled a list of 12 helpful...

Disability can be a real life changer. I should know. I’ve experienced it personally. I was 32 years old, single, had been the top producer for my company in a sales force of nearly a hundred. I had just purchased my first home,...

Is the ABLE Act going to help you? The answer is: it depends. ABLE accounts certainly provide planners with an additional tool for their Special Needs Planning toolbox. How easy will it be for parents to utilize ABLE accounts on their...

Many parents think that all special needs trusts (SNTs) or supplemental needs trusts can be invaded by Medicaid after their disabled child dies. Let me try and clarify. A first-party special needs trust (payback trust) is funded by...

Myth: You need to have guardianship in order to apply for Supplemental Security Income (SSI) for your disabled child or to be the representative payee. Generally, you don’t need guardianship in order to apply and be awarded SSI...

The ABLE Act, which will provide opportunities for disabled individuals to save money without adversely affecting government benefits, was signed by President Obama on December 19, 2014. The ABLE Act will benefit many families and...

Can I add money to my child’s Special Needs Trust? It depends on whose money it is and what type of Special Needs Trust (SNT) it is. If the trust is a first-party Special Needs Trust (or Payback Special Needs Trust) and the money...

My child receives SSI and I am the representative payee. Can I use the rent I charge my child to pay the premium for a life insurance policy to fund a special needs trust?Yes. The rent money is yours to spend as you like. Purchasing a...

What can you do if your special needs child has too much money in his or her name to qualify for SSI and Medicaid? Last week, we talked about spending the money down. Let’s now take a look at other alternatives. My special needs...

Government programs such as Supplemental Security Income (SSI) and Medicaid are needs based. This means that an individual must have limited resources and satisfy certain other requirements. SSI provides a maximum monthly cash benefit...

As someone who assists parents with 17-A guardianship petitions, I receive many questions regarding various aspects of guardianship. Below are some of the more common questions along with answers as I understand them to be correct. The...

What’s the difference between Supplemental Security Income (SSI) and Social Security Disability Income (SSDI)? SSI is a needs-based program which provides a monthly income. In order to be eligible, the individual’s...

Attend our Special Needs Parent Connection Support Group meeting on Saturday, October 4th to learn how to advocate for your child’s healthcare. Arlene Reith will be speaking about how to educate and communicate with medical...

Many parents ask if their special needs child should have a Section 529 plan or some other type of college savings plan. Other parents have already opened a college plan for their child. Since Social Security has recently clarified...

As someone who assists parents with 17-A guardianship petitions, I receive many questions regarding various aspects of guardianship. Below are some of the more common questions along with answers as I understand them to be correct....

Summer’s over and it’s time to review where you are and determine what needs to be done to properly plan for your special needs child’s future. Here is a quick checklist to get you started. Have you addressed the...

Attorney Checklist In preparation for your meeting with your attorney, you may want to consider the following: Is your attorney well-versed in the area of special needs? How many special needs trusts did he or she design during the...

What will the next 40 years bring us? The next 80 years? Our tendency is to take a snapshot of our current situation and project that into the future, but if we think about it, that’s not how it really works. For instance, when...

What are your plans for your special needs child once he or she leaves the public school system at age 21? Were you thinking of getting a placement for your child in a group home? If so, you may want to reevaluate your options. New...

When your child ages out of the public school system at age 21, your child will enter the world of adult services. Examples of these services are group homes, independent living with support, rehabilitation day programs, residential...

Did you know that once your child attains age 18, you no longer have the legal right to make medical and dental decisions for him or her? The state of New York assumes that your child has the capability to make those decisions for...

Don’t wait until it’s too late to plan. The last three weeks have served as a sad reminder as to how life can change in an instant. One friend passed away unexpectedly leaving her autistic child behind. She was in her...

How important are trends in Special Needs Planning? They are everything. Why? Take the 1115 People First Waiver that is about to be implemented in New York. Have you taken the time to think about how your child will be affected? Is he...