Comments on: JLP’s Question of the Day http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Fri, 20 Nov 2009 19:56:44 -0800 http://wordpress.org/?v=abc hourly 1 By: WRF http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-243696 WRF Sat, 01 Mar 2008 00:22:48 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-243696 Only in America... I'm 50 totally disabiled. Was raised to go out and work and to better myself. Well, I did so. Worked my whole life. Only to find out that Im being pentalized for doing so. My only income is SSD. Due to working those yrs I have a 527.00 a month spend down on my Medicaid. Recently I found out Im entitled to a pension of 537.00 a month. So guess what? My spend down is going up to $1060.00 a month. $740.00 a month is considered poverty. To figure out ones spend down. They take the $740.00 minus 20 equals 720. Then subtract the 720 from someone total income. That is there spend down. No one plans on becoming disabled. I was in a car accident, not my fault. Coma 18 days 6 and a half months in the hospital. Back surgery, 2 open heart surgeries and surgery in both eyes. Yes, the spend down brings me down to the poverty however I would of been better off working a couple yrs. Your spend down isnt factored in when it comes to qualifying for housing, food stamps, energy assistance and even if I was to be arrested. They say you have the right to an attorney if you cant afford one, one will be appointed to you. Well, guess what. I make to much money for to quality for anything. Only in America.... Only in America… I’m 50 totally disabiled. Was raised to go out and work and to better myself. Well, I did so. Worked my whole life. Only to find out that Im being pentalized for doing so. My only income is SSD. Due to working those yrs I have a 527.00 a month spend down on my Medicaid. Recently I found out Im entitled to a pension of 537.00 a month. So guess what? My spend down is going up to $1060.00 a month. $740.00 a month is considered poverty. To figure out ones spend down. They take the $740.00 minus 20 equals 720. Then subtract the 720 from someone total income. That is there spend down. No one plans on becoming disabled. I was in a car accident, not my fault. Coma 18 days 6 and a half months in the hospital. Back surgery, 2 open heart surgeries and surgery in both eyes. Yes, the spend down brings me down to the poverty however I would of been better off working a couple yrs. Your spend down isnt factored in when it comes to qualifying for housing, food stamps, energy assistance and even if I was to be arrested. They say you have the right to an attorney if you cant afford one, one will be appointed to you. Well, guess what. I make to much money for to quality for anything. Only in America….

]]> By: C.C. http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-235964 C.C. Sun, 17 Feb 2008 02:44:09 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-235964 One thing not mentioned above is that these people have paid into the pot for this. The pot called social security. How can using it be thievery when they helped create it? Forget that the government already spent it, that was the big lie. haven't they earned it? One thing not mentioned above is that these people have paid into the pot for this. The pot called social security. How can using it be thievery when they helped create it? Forget that the government already spent it, that was the big lie. haven’t they earned it?

]]> By: Froglegs http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-173078 Froglegs Sun, 18 Nov 2007 02:51:57 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-173078 What is the moral response to a situation in which a chronic disability can only result, at last, in bankruptcy? Gary makes an important point in referring to the political. Long-term care is a dilemma for all but the very poor or the very rich and is the result of political decisions. Since politics has been brought up, I'd like to point out what a complicated mess this means. Gary refers to Republicans wanting more money for the rich. While this may be the general attitude of our current president, the honorable Alfred E. Newman, the Republican Party is actually made of several groups, the largest of those being the Traditionalists, the Libertarians and the Global Capitalists. These groups have very different world views and are actually distrustful of each other. Similarly, Democrats are largely made up of competing groups, the largest of those being the American Liberals and the International Socialists. Each group mentioned has a definite attitude when it comes issues that affect the society at large. We all orient ourselves with regard to moral relativism, even if our moral compass is the Bible. There is no right or wrong answer, but many possible responses to a moral dilemma. Do we spend down assets, forcing our care on society at large but benefiting ourselves and our families or do we sacrifice for some perceived greater good? Do you perceive the good? What is the moral response to a situation in which a chronic disability can only result, at last, in bankruptcy? Gary makes an important point in referring to the political. Long-term care is a dilemma for all but the very poor or the very rich and is the result of political decisions. Since politics has been brought up, I’d like to point out what a complicated mess this means. Gary refers to Republicans wanting more money for the rich. While this may be the general attitude of our current president, the honorable Alfred E. Newman, the Republican Party is actually made of several groups, the largest of those being the Traditionalists, the Libertarians and the Global Capitalists. These groups have very different world views and are actually distrustful of each other. Similarly, Democrats are largely made up of competing groups, the largest of those being the American Liberals and the International Socialists. Each group mentioned has a definite attitude when it comes issues that affect the society at large. We all orient ourselves with regard to moral relativism, even if our moral compass is the Bible. There is no right or wrong answer, but many possible responses to a moral dilemma. Do we spend down assets, forcing our care on society at large but benefiting ourselves and our families or do we sacrifice for some perceived greater good? Do you perceive the good?

]]> By: Darrick http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-64296 Darrick Thu, 18 Jan 2007 21:49:54 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-64296 I personally feel that it is moral and there are not too many options. Medicaid is designed for people who truely need it and if a person had money in their savings it should be spent first before the Gov will kick in. There are plenty of people who do need it so the funds need to be set aside for those people. Long Term Care Insurance has helped my Mom greatly. A good site to research LTC insurance is: http://www.wilkinsfs.com/ltctree.htm I personally feel that it is moral and there are not too many options. Medicaid is designed for people who truely need it and if a person had money in their savings it should be spent first before the Gov will kick in. There are plenty of people who do need it so the funds need to be set aside for those people. Long Term Care Insurance has helped my Mom greatly. A good site to research LTC insurance is: http://www.wilkinsfs.com/ltctree.htm

]]> By: Gary Anderson http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-1242 Gary Anderson Sun, 29 Jan 2006 02:35:41 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-1242 Actually, I have read this article more carefully. The essense is the typical Republican response as it has always been to this program, have your kids take care of you until the property requirements are met. That is what the Republicans want, that kids should have to take care of their elders. Of course this is one more nail into the coffin of the middle class. Again, this country wants wealth transfer to the rich. That is the motivation of the Republicans, to see how far they can stretch the middle class without breaking them. Actually, I have read this article more carefully. The essense is the typical Republican response as it has always been to this program, have your kids take care of you until the property requirements are met. That is what the Republicans want, that kids should have to take care of their elders. Of course this is one more nail into the coffin of the middle class. Again, this country wants wealth transfer to the rich. That is the motivation of the Republicans, to see how far they can stretch the middle class without breaking them.

]]> By: Gary Anderson http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-1241 Gary Anderson Sat, 28 Jan 2006 23:49:00 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-1241 But THC, JLP's article is about medicaid spendown. I don't know why anyone is talking about Medicare! And JLP, you saw that I complemented THC for his financial planning and trying to help people with finances. But THC, JLP’s article is about medicaid spendown. I don’t know why anyone is talking about Medicare! And JLP, you saw that I complemented THC for his financial planning and trying to help people with finances.

]]> By: thc http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-1240 thc Sat, 28 Jan 2006 18:48:42 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-1240 Sorry, JLP. I think Gary is confusing Medicaid "spend-down", a legitimate practice, with what we were discussing, which is gifting assets or reducing personal wealth to qualify for Medicaid. "Medicaid spend-down" comes into play when an individual has excess INCOME but is allowed to use medical expenses to to reduce this "excess" so as to qualify for Title 19 benefits. The process of subtracting those medical bills from the individual’s income over a six month period is called a Medicaid "spend-down." Sorry, JLP. I think Gary is confusing Medicaid “spend-down”, a legitimate practice, with what we were discussing, which is gifting assets or reducing personal wealth to qualify for Medicaid. “Medicaid spend-down” comes into play when an individual has excess INCOME but is allowed to use medical expenses to to reduce this “excess” so as to qualify for Title 19 benefits. The process of subtracting those medical bills from the individual’s income over a six month period is called a Medicaid “spend-down.”

]]> By: JLP http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-1239 JLP Sat, 28 Jan 2006 18:26:57 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-1239 I never in my life thought I would have to say this on my blog, but: GUYS CALM DOWN! Can't we discuss these issues without calling each other arrogant? Please (sniff, sniff), can't we all just get along? You guys are cracking me up. I never in my life thought I would have to say this on my blog, but: GUYS CALM DOWN! Can’t we discuss these issues without calling each other arrogant?

Please (sniff, sniff), can’t we all just get along?

You guys are cracking me up.

]]> By: Gary Anderson http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-1238 Gary Anderson Sat, 28 Jan 2006 17:37:43 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-1238 Well, THC you have the arrogance of the young! I am surprised that you didn't know that medicaid workers, (medical in California) can advise seniors on spend down. I don't quite understand why you don't know that unless I am missing something. I think it is great that you are a financial planner. If you can help people in this country avoid poverty in old age, good for you. Of course other developed nations have plans in place to stop this poverty with better health care systems. And while we waste money in Iraq and in a spending frenzy orchestrated by Alan Greenspan, their stock markets are exploding. Funny isn't it. Gary Well, THC you have the arrogance of the young! I am surprised that you didn’t know that medicaid workers, (medical in California) can advise seniors on spend down. I don’t quite understand why you don’t know that unless I am missing something. I think it is great that you are a financial planner. If you can help people in this country avoid poverty in old age, good for you. Of course other developed nations have plans in place to stop this poverty with better health care systems. And while we waste money in Iraq and in a spending frenzy orchestrated by Alan Greenspan, their stock markets are exploding. Funny isn’t it. Gary

]]> By: thc http://allfinancialmatters.com/2006/01/26/jlps-question-of-the-day-2/comment-page-1/#comment-1236 thc Sat, 28 Jan 2006 17:07:59 +0000 http://www.allthingsfinancialblog.com/?p=328#comment-1236 Gary: I'm a Certified Financial Planner(TM), I advise elders for a living and I'm very good at what I do. I know what I'm talking about. But thanks for thinking that I'm young! Gary: I’m a Certified Financial Planner(TM), I advise elders for a living and I’m very good at what I do. I know what I’m talking about. But thanks for thinking that I’m young!

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