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Hugg & Associates PLLC is a boutique law firm providing client-centered services to individuals and businesses. Our practice focuses on all aspects of elder law, estate planning, asset protection, business succession planning, probate and trust administration. If you are a business owner, in addition to the above services, we are experienced business, real estate, and contract law attorneys.

Take Medicare Part D

When you turn 65, you almost certainly want enroll in Medicare.  If you are paying $500-$1,000 (or more in certain cases) per month for medical insurance premiums through the ACA what could be a better birthday present than a new insurance premium of just $134 per month if you make less than $170,000 a year.  That premium will get you coverage under Parts A and B.  Those two parts pay for hospital and outpatient doctor visits.

But, if you’re healthy and not taking any medications, should you enroll for Medicare’s Part D prescription drug coverage?  Sounds like a waste of money if you aren’t on medications.  However, you should think of the future.  You will be penalized with higher premiums later on if you do not enroll in Part D when you enroll for parts A and B.  Given that at some point most everyone will require some medication as we age, it is probably a wise move to sign up for an affordable Part D plan at age 65 even if you don’t need at that time. 

Seniors Flunk a New Retirement Quiz

Most seniors who took a retirement quiz did not score high. Not long ago I wrote on a Wall Street Journal debate where one side said there is no retirement crisis and the other said there was.  My point was that neither party addressed the potential need for long-term care and increasing medical expenses.  HadContinue Reading

Elder Law Planning:  Definitely Worth Pursuing

Many people have the false impression that Elder Law planning is not worth finding out about because they think they are not eligible for Medicaid.  They feel they have too much income, money or other assets to qualify, or believe that some specialized trust strategies used for asset protection are only for rich people. WithContinue Reading

Hospitals Must Provide Notice About Observation Status

All hospitals must now give Medicare recipients notice when they are in the hospital under observation status.  The notice requirement is part of a law enacted in 2015 but that just took effect. Signed by President Obama in August 2015, the law was intended to prevent surprises after a Medicare beneficiary spends days in aContinue Reading

Deduct Long-Term Care Premiums From Your Income

Taxpayers with long-term care insurance policies can deduct some of their premiums from their income.  Whether you can use the deduction requires comparing your medical expenses to your income in a complicated formula. Premiums for qualified long-term care insurance policies are tax deductible to the extent that they, along with other unreimbursed medical expenses (includingContinue Reading

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