Barbara Steinberg

Caring.com Expert

About

Barbara Steinberg is the CEO and founder of BLS Eldercare Financial Solutions. BLS Eldercare specializes in helping families pay for long-term care for their loved ones.

Steinberg is a certified financial planner and registered financial gerontologist. As such, she is bound by the highest ethical standards in the financial industry. She graduated from the State University of New York, Downstate Medical Center, with a B.S. in medical computer science. She received an M.S. in electrical engineering from Columbia University and holds an MBA from Fairleigh Dickinson University.

A popular speaker on the topic of paying for long-term care, Steinberg is also a financial expert for www.caring.com. She has been quoted in Money magazine about continuing care retirement communities and on www.bankrate.com about paying for assisted living. Steinberg can be reached at 973-406-7100, extension 501; bsteinberg@blseldercare.com; or http://www.blseldercare.com/blog.

Why I Care

"I recognize that caring for a loved one is challenging and stressful. Having personally conquered bipolar disorder, I understand what it is like to experience severe cognitive impairment and be unable to function independently. I feel fortunate that I was able to overcome my illness and create a company that serves others."

Links

Recently Published on Caring.com

  1. Monday April 09, 2012

    1. Will Medicare allow dad to pay for house payments, even though he's in a nursing home?

      Answer - Once your Dad is on Medicaid, all of his income, minus a personal needs allowance, must go the nursing home. You can make his house payments with your money and then be reimbursed when the house has been sold.

    2. Will my wife get my va when I am dead?

      Answer - The benefit that applies to your wife after you pass away is called Dependency and Indemnity Compensation (DIC). Since you are 100% disabled. there are two sets of conditions that will determine her eligibility. The first is that your death is a result of: 1. A disease or injury incurred or aggravated in the line of duty or while on active duty; or 2...

    3. Does the special circumstance on transfering property include a grandchild?

      Answer - As you found out, there are special circumstances that enable the house of a Medicaid recipient to be transferred to an adult child or a sibling of the recipient. However, these circumstances do not apply to grandchildren.

    4. Will Medicare cover pre-existing conditions?

      Answer - The good news is that Medicare does not have any preexisting conditions. As soon as you are enrolled in the program, you are covered for any past or present medical conditions. So if you can wait until you are enrolled, Medicare will pay for your surgery. Keep in mind that Medicare does have deductibles and copays...

    5. Can I get paid back for Mom's mortgage payments?

      Answer - Yes, you can be reimbursed from the house proceeds for the money you spend keeping up the house. Be sure to keep documentation for everything you spend.

    6. Do the same legal considerations apply for joint owned accounts as they do for single owned accounts with medicaid and LTC?

      Answer - Since your mother's name is first on the accounts, they are listed under her social security number. Medicaid will consider these to be her assets unless you can prove that you contributed some portion of the funds from your own resources.

    7. When we sell her home, what should be do with the proceeds?

      Answer - Medicare is an entitlement program that is not based on need. So whether she has the house or cash will not affect her Medicare benefits. Medicare is health insurance that pays for hospital and skilled medical care, e.g. doctor, nurse, physical therapist.

    8. I'm a vet receiving disability, if I die will my wife get the payments?

      Answer - The benefit that may apply to your wife after you pass away is called Dependency and Indemnity Compensation (DIC). For her to be eligible, your death must be a result of: 1. A disease or injury incurred or aggravated in the line of duty or while on active duty or 2...

  2. Wednesday March 21, 2012

    1. How to reinstate Medicaid home transfer to "Child care giver" for mom?

      Answer - As you know, since you lived with your mom for at least two years and provided her care, you are qualified to keep the house in your name. You have clear proof that you lived there for over two years. That's half of the battle. The other half is to prove that the care you provided kept your mother from needing a nursing for at least two years...

    2. Is there a supplemental medical ins for veterans on dissability?

      Answer - Your brother may have options for supplementing his VA medical treatment. I'm asssuming that his VA benefits are service-connected disability compensation (due to an injury or illness he sustained while on active duty). He may also be eligible for SSDi (Social Security Disability). Contact your local Social Security office to find out if he is eligible...

  3. Saturday March 17, 2012

    1. Can my 83 year-old mother receive any help to pay for in home care?

      Answer - As the surviving spouse of a veteran, your mother may be eligible for a widow's pension. This benefit provides up to $1,094/month to help pay for long term care, including home care. To qualify for the maximum, your mother's home care expenses plus any health insurance premiums, e.g. Medicare supplement policy, need to exceed her income...

    2. What are our financial options as we look into paying for additional care?

      Answer - To prepare for the time when your husband needs more care, you should learn how Medicaid works in your state. Medicaid is the program that pays for long term custodial care. Medicare is a health insurance program that covers medical and skilled care; it does not cover long term care.

    3. How to pay for mom's cancer treatment with no private insurance?

      Answer - Although your mother cannot get private health insurance, she may be eligible for Medicaid. Medicaid is a safety net that covers health care for people with limited income and resources. You should check with your state or county Medicaid office to determine if your mother is eligible financially...

    4. What's the difference between revocable and irrevocable trust?

      Answer - When someone establishes an irrevocable trust, they give up ownership and control of assets that have been transferred to the trust. They cannot change the trust or terminate it. The opposite happens with a revocable trust. The "grantor" retains ownership and control. SInce your mother's trust is irrevocable, she made a gift of her assets to the trust...

  4. Wednesday March 14, 2012

    1. How do I find a psychiatrist in the Medicare pages?

      Answer - To find a psychiatrist on the Medicare site, go to http://www.medicare.gov/find-a-doctor/(X(1)S(vrwfryzkpm5rbhn4cfhl3g55))/provider-search.aspx

  5. Monday March 12, 2012

    1. Why do I have to have Part A Medicare when I already have private insurance?

      Answer - Since you receive SSDi, you are required to be covered by Medicare Part A. You are also covered by your spouse's employer plan. These coverages work together without duplication. Depending on how many employees there are in your spouse's company, Medicare will either be primary or secondary. If there are less than 100 employees, it will be primary...

    2. Can Medicaid place a lien on my mother-in-law's house for her nursing home care?

      Answer - Unfortunately, the answer is yes, Medicaid can place a lien on your in-laws' house to recoup payments that were made for nursing home care. If your brother-in-law had lived with his parents and cared for them for at least two years, he would be able to keep the house free and clear. It sounds like he did not live there even though he cared for them...

  6. Sunday March 11, 2012

    1. Father has enough to pay for his funeral. Can he pre-pay, and still get Medicaid?

      Answer - Yes, your father can prepay his funeral and apply for Medicaid. Medicaid allows this. There are two options for doing this. One is to go the funeral home where you want to make final arrangements and prepay the funeral. The other option can be used if you do not know where you want to make final arrangements...

    2. How can I become my grandma's financial guardian in Alabama?

      Answer - It is expensive and time consuming to become someone's guardian. There are better alternatives for your situation. Social Security has a Representative Payee Program. This is a financial management program for SS beneficiaries who are incapable of managing their SS payments. Family members or friends are usually appointed as representatives...

  7. Wednesday March 07, 2012

    1. My husband has Parkinson's and gets social security. I do not work and am worried about his care. What will I live on if facility takes his check?

      Answer - The $526/month has to do with home care. You may be better off financially if your husband moves into a nursing home. Did you understand my explanation of the Minimum Monthly Needs Allowance?

  8. Tuesday March 06, 2012

    1. My husband has Parkinson's and gets social security. I do not work and am worried about his care. What will I live on if facility takes his check?

      Answer - Within the Medicaid system, there are protections for the "community spouse", you. If your husband goes to a nursing home on Medicaid, his income less a personal needs allowance is usually paid to the facility. However, the community spouse is entitled to a "Minimum Monthly Needs Allowance"...

    2. Mom's assets do not cover unpaid bills. Will this disqualify her for Medicaid?

      Answer - Many seniors fall into debt over past bills. Having unpaid bills will not disqualify her from Medicaid. If she needs to spend down to get below the Medicaid limit on assets, paying off some of the bills can expedite her eligibility. If she is already financially eligible for Medicaid, there is not much else to do...

    3. Do VA benefits go directly to a facility for their cost of care?

      Answer - VA compensation (for service-connected disabilities) or VA pension with aid and attendance (for non-service connected disabilities) go directly to the claimant, not to the facility. The benefits are usually direct deposited into the claimant's checking account, just like social security.

  9. Tuesday February 28, 2012

    1. Does Medicaid repayment have time limit?

      Answer - Looking at your case from a practical point of view, if you have not heard from Medicaid after 13 years, there is no need to worry about estate recovery. In addition, since your mother owned the house before your father died and there was no lien on it, the state has no claim to the property...

    2. Does my uncle have to tell the nursing home about his savings bonds?

      Answer - It sounds like your aunt will be applying for Medicaid. Medicaid is a program for people who are in need of long term care and do not have the resources to pay for it. Medicaid needs to know about all assets that belong to both spouses. Not disclosing assets is fraud. Yes, the state can recover back payments from the estate if they can prove there was fraud...