Are you ready for a raise? Prices go up and retired seniors need to keep up, so the Social Security Administration has announced a “pay” increase for more than 64 million folks who receive Social Security retirement benefits. Starting in January 2022, benefits will go up 5.9% -- the largest cost-of-living adjustment in quite some time. Of course, while your benefit is increasing, Medicare premiums are also going to increase.
In a year when it has been darn hard to find any good news, the federal government has just announced some good news for seniors: Social Security payments will go up in 2021. Starting with checks mailed December 31, 2020, those who receive Social Security and/or Supplemental Security Income (SSI) benefits will get 1.3% more.
Medicare and Medicaid are both government programs that provide certain types of health care coverage for seniors. Although the programs are very different, they are often confused. And Medicaid, especially, is often misunderstood. So let’s clear up some of the confusion, to help you know if Medicaid may be a viable financial resource for you some day.
Medicare and Medicaid help provide critical levels of care to seniors in Georgia. The coverage for both programs can be confusing, however, leading to denied treatment, bills, and other unnecessary stresses. Rather than dealing with unnecessary stresses when you need medical care, you should be focusing on your health.
In short, yes, Medicare and Medicaid will pay for skilled nursing services in Georgia. To arm you with critical information needed to understand your coverage and rights as a Medicare or Medicaid participant, let’s examine skilled nursing coverage for both programs.
Financial questions are often some of the first asked by prospective residents when making decisions about assisted living communities in Georgia. One very commonly asked financial question we hear at Magnolia Manor is, Does Medicare or Medicaid cover assisted living in Georgia?
The short answer is, unfortunately, “no.” Medicare and Medicaid do not cover assisted living expenses for Georgians.