If your New Year’s resolutions included increasing your retirement savings efforts in 2024, there are a few changes to rules about IRAs, 401(k)s, and even 529 College Savings Plans you’ll want to know about. Contribution limits for 2024 have gone up. Annual contributions for IRAS in 2024 are now $7,000, up from $6,500 in 2023. […]
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2024 Bringing Big Savings for Medicare Patients Relying on Expensive Drugs
There is good news for Medicare recipients in 2024 who count on costly prescriptions. The Inflation Reduction Act passed in 2022 puts an annual ceiling of $3,300 in 2024 for Part D drugs. The number could shift slightly depending on whether they take brand-name or generic medications. In 2025, the news is even better: the […]
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NAELA News Article on QLACs Is Top Pick for 2023
This past year, I’ve enjoyed contributing articles to prestigious professional journals, including one of our field’s most respected publications, NAELA News, by the National Academy of Elder Law Attorneys. With great pride, I announce that my article, “SECURE 2.0 Opens the Door for Qualified Longevity Annuity Contracts (QLACs),” has been recognized as the most-read article […]
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Seniors Beware – Medicare (dis)Advantage Plans – Part Two.
If you’re not worried about your Medicare Advantage plan, a recent article from The Washington Post, “Hospitals and doctors are fed up with Medicare Advantage,” might motivate you to check on your Medicare plan before the open enrollment period ends – next Thursday, December 7. While Medicare Advantage plans have about 31 million members (nearly […]
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Seniors Beware – Medicare Advantage Plans – Part 1
Seniors who sign up for a Medicare Advantage plan may find themselves in a world of trouble – the complete opposite of what they expected. Once you turn 65, you are eligible to sign up for health coverage under Medicare. You can choose traditional Medicare (Parts A, B, and D) or Medicare Advantage (Part C). […]
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Stephen J. Silverberg Speaking at Nassau County Bar Association on November 17th.
Seniors aren’t the only ones who find Medicare options confusing. On Friday, November 17, Stephen J. Silverberg will present “Medicare Supplement vs. Medicare Advantage,” a program examining the different programs to help attorneys better assist their eligible senior clients. The program, a joint meeting of the Senior Attorney and Elder Law, Social Services, and Health […]
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Veterans Day 2023
Today we honor the veterans who have kept our country and our democracy safe with respect, honor, and gratitude. We encourage clients, friends, and colleagues to consider donating to a Veterans organization, as so many of the nearly 100,000 veterans living on Long Island struggle to meet basic needs. Please join us in supporting these […]
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Are You One Medical Crisis Away from Losing Control of Your Life?
If nothing else has you calling our office to ensure your Power of Attorney and Power of Attorney for Healthcare documents are in order, this recent article from The Washington Post will do it. It is the story of an 80-year-old retired pilot driving his Ford Mustang convertible into a gas station. Someone thought he […]
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The IRS Offers Tax Prep Software – Free – Is it For You?
It’s been a long time coming, but next year, for the first time, some taxpayers will have a new filing option: a free tax prep software program created by the IRS and named “Direct File.” The roll-out will be slow. Direct File will be available only in thirteen states, including New York. Note that the […]
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Don’t Make These Medicare Mistakes
Medicare can be complicated and mistakes can be expensive. Knowing the pitfalls in advance can make a big difference for seniors. Here’s an example of what can go wrong. A 66 year old actor from California enrolled in a Medicare Advantage plan. After receiving a prostate cancer diagnosis last year, he learned the specialists he […]
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