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July 20, 2010
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Estate Planning News

 

 

The Administration on Aging Awards $9.4 Million for Senior Medicare Patrol Projects

 Assistant Secretary for Aging Josefina G. Carbonell today awarded $9.4 million to fund fifty-seven Senior Medicare Patrol (SMP) projects. These projects train retired professional volunteers to help their peers become better health care consumers.

Volunteers work to educate older Americans about the importance of reviewing their Medicare notices to identify billing errors as well as potentially fraudulent activity. Program volunteers also encourage seniors to make inquiries to the SMP project when such issues are identified, so that the project may ensure appropriate resolution or referral.

“Senior Medicare Patrol projects provide products and services to our seniors that promote understanding of Medicare and Medicaid program benefits,” said Assistant Secretary Carbonell. “Through this program beneficiaries increased their knowledge of the new prescription drug and other benefits that empowers them to make sound health care decisions.”

The SMP program plays a unique role in providing direct and widespread education to reduce erroneous and wasteful Medicare and Medicaid spending. The project plays an important role in helping elderly people protect both their own and Federal health care resources, which in turn help them remain independent in the community.

AoA provides these grants to states, territories, other jurisdictions and community-based non-profit organizations. Each project is designed to focus on providing program services to seniors who are homebound, rural, non–English speaking or otherwise underserved.

According to the most recent SMP Program performance report issued May 2, 2006, by the HHS Office of Inspector General, over 10,000 new volunteers were trained during 2005, who in turn educated over 483,000 beneficiaries through either group or one-on-one counseling sessions. As a result of this training, the SMP Projects resolved or referred almost 28,000 complaints regarding Medicare, Medicaid, and other health care issues. Since 1997, over $104 million in savings, including Medicare and Medicaid funds recovered, beneficiary and other savings have been attributed to the program as a result of documented complaints.  Read more at aoa.gov

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Did You Know?    
 
 
The costs and expenses of a conservatorship are paid by your estate
A CONSERVATORSHIP is if you suffer from an incurable disease or are involved in a debilitating accident and are unable to manage your own affairs, state law might require someone to go to court to have a conservator appointed by the court. The conservator is given the authority to make financial decisions and handle your financial affairs, under court supervision, when you lack the capacity to manage them on your own.

 


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Latest news about Financial & Estate Planning in Plano and nationwide:

Congressman Jefferson’s Remarks on Repealing the Estate Tax
Washington, DC – Yesterday, April 13, 2005, U.S. Representative William J. Jefferson (D-LA) submitted the following statement to the Congressional ...
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GM Announces Automotive Recall
NHTSA CAMPAIGN ID Number : 05V054000  Recall Date : FEB 14, 2005

General Motors, manufacturers of Chevrolet and Pontiac cars, has anno...

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Included A One-Time Corporate Tax Benefit Related To A Favorable Tax Ruling
On October 29, 2004, we completed the sale of our paper, forest products and timberland assets for approximately $3.7 billion to affiliates of Bois...
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Estate Planning Terms

 


Today's Terms

Transfer Tax

Definition:
The combined Federal Estate and Gift tax. A single exemption credit applies whether the property was transferred during a person's lifetime (gift tax) or is held by a person at the time of his/her death (estate tax).

Probate

Definition:
The process through which the legal title to property is transferred from a decedent to the beneficiaries. If a person dies with a will (testate), the probate court determines if the will is valid, hears any objections to the will, orders that creditors be paid and supervises the process to assure that property is distributed by the Personal Representative or Executor according to the terms of the will. If a person dies without a will (intestate) the probate court appoints an Administrator who receives all claims, pays creditors, and then distributes all property according to the laws of the state.

Incapacity / Incompetent

Definition:
Legally unable to manage one's own affairs due to mental disability. This may be temporary or permanent.

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Estate Planning Hot Topics

 
Topics Related to Estate Planning:

  • Trusts
  • Wills
  • Uniform Probate Code
  • Gift Tax

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