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Nonpayment of a nursing home can be an issue, especially during a period of ineligibility created by gifting. The questions becomes “Who will pay the invoice for the nursing home during this period?”

Under federal law, the Pennsylvania Department of Human Services (DHS) is required to recover the Medical Assistance (MA) costs from the estates of decedents who received MA benefits during life. The official name is the Medical Assistance Estate Recovery Program.

If an individual meets both the health and financial eligibility requirements, Medicaid pays the majority of costs for care services received at home or in a facility. Services provided in the home are under “Medicaid Waiver.”

A look-back period meant to prevent Medicaid applicants from giving away assets or receiving less than fair market value in order to meet Medicaid’s asset limit.

A number of requirements must be met in order for an applicant to become eligible for Medicaid to pay for the applicant’s long-term care.

What is the best way to structure the transfer? Should a client transfer assets into the names of one or more of their children (or other family members)? While person-to-person transfers can work in certain situations, it is more often preferable to transfer assets to a trust that will ultimately benefit the intended family members.

A “combination” or “hybrid” life insurance policy incorporates a long-term care rider into a permanent life insurance policy.

Questions arise when people consider their long-term care needs in the event of a chronic medical condition, disability or disorder. Close to the top of the list is “How do I pay for the medical assistance I will need?” One solution is to purchase a long-term care insurance policy.

Medicaid is a federal program which provides a public health insurance program for people with low income. It is the principal source of long-term care coverage in the United States.

The SBA issued additional safe harbor guidance for PPP loans in FAQs #46 and #47 on May 13, 2020.

In addition to the complicated rules and requirements to achieve maximum loan forgiveness, there are a number of open issues the SBA and Treasury must address in order to get a better (and more complete) picture on how a PPP loan borrower can get the best use and results from the PPP loan funds.

To effectuate an economic furlough, the board of directors of a school district must, no later than 60 days prior to the adoption of a final budget, adopt a resolution of intent to furlough professional employees in the following fiscal year. As school districts are required to adopt final budgets by June 30th, the possible last day to adopt the economic furlough resolution is May 1st.

It is not too early to start thinking about the ways to maximum your PPP loan forgiveness... because, let’s face it, that is one of the most attractive features of these PPP loans.

The CARES Act permits greater access to retirement plan distributions and loans, and a one-year waiver of the Internal Revenue Code’s required minimum distribution rules. Employer sponsors of retirement plans may amend their plans to adopt the relief measures afforded by the CARES Act.

We have seen a flurry of activity from all sectors of government in recent days to assist businesses who are dealing with this unprecedented time in our economy and public health arena. The following summarizes some loan opportunities, tax credits, and contract considerations.