| Nonqualified Annuities |
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| A nonqualified annuity is purchased outside of an employer-provided retirement plan. After-tax dollars are used to fund a nonqualified annuity, so contributions are not deductible from gross income for income tax purposes. Taxes on interest or earnings in a nonqualified annuity are deferred until withdrawal. In a lump-sum distribution of a nonqualified annuity, the monies may be transferred into an IRA or similar vehicle to defer taxes additionally. Only a portion of a monthly annuity payment is taxed because each payment is partially principal that has been taxed and partially interest earned. The portion of the monthly payment that is excluded from taxes is determined by an exclusion ratio. The exclusion ratio is the total amount of premiums paid divided by the total expected payment amounts. If the expected return is based on a life expectancy or joint life expectancy, the Internal Revenue Service has tables and multipliers that are used to determine the total expected return. If the expected return is not based on a life expectancy, the total expected return is the sum of all amounts to be received. More... |
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| National Family Caregiver Support Program |
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| In 2000, the United States Congress enacted the National Family Caregiver Support Program (NFCSP). Although the legislation was originally designed to benefit only caregivers of relatives over the age of 59, it was altered before enactment to also benefit relatives over the age of 59 who were caring for children.More... |
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| Discrimination in Nursing Homes |
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| State and federal constitutions and laws offer protections from discrimination based on race, national origin, and religion. Further, federal regulations also prohibit discrimination based on age, sex, current or anticipated mental or physical disability, and source of payment. More... |
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| Estate Recovery |
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| When a nursing home resident who has received Medicaid benefits dies, the state's Medicaid agency may attempt to recover unpaid Medicaid nursing home expenses from the resident's estate. While there are federal laws and regulations governing recovery from a Medicaid recipient's estate, each state is allowed to establish its own recovery guidelines.More... |
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| Third Party Liability |
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| Medicaid, a federal and state funded program, pays for health insurance for needy individuals and families, particularly pregnant women, children, teenagers, the aged, the blind, and the disabled. Medicaid provides an important component of benefits to the elderly population of the United States: medical assistance.More... |
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