Banks have been touting the virtues of so-called “reverse” mortgages for many years as a way for cash-strapped seniors to tap into the equity in their homes to meet their expenses, whether simply for day-to-day living or to pay for the increased costs of home care. The basic concept of a “reverse” mortgage is that [...]
One of the benefits of the health reform law took effect January 1, 2011: free preventive services for Medicare recipients. Under the law, people with regular Medicare will no longer have to pay a co-pay, co-insurance or deductible to receive preventive services that are highly recommended by the U.S. Preventive Services Task Force — services [...]
If you or a family member lives in an assisted living facility in Massachusetts, you know that assisted living costs continue to rise every year. But did you know some of those costs may be tax deductible? Medical expenses, including some long-term care expenses, are deductible if the expenses are more than 7.5 percent of [...]
