Have a F-76, who is an old farm girl and hard headed. When turning 65 she declined Part B, and now 11 yrs later her LEP would be substantial if she were to pick up Part B, but of course she would like to do so. (Next Jan to March, with eff date of July 1, 2014.
She would qualify for extra help on an income basis (1K mo) but she is frugal and has been able to save appx 40K, so that makes her ineligible for the Extra Help. What planning moves can one take to shift the liquid assets to < $ 12, 600...? Would SPWL accomplish this? Or would it have to be in an irrevocable life ins trust...? I suppose pre-paying a funeral surely would help matters. Any other ideas...?
The object is to get her liquid assets below < $ 12K then she would qualify for extra help and be able to eliminate appx $ 100 mo in Part B LEP...
She would qualify for extra help on an income basis (1K mo) but she is frugal and has been able to save appx 40K, so that makes her ineligible for the Extra Help. What planning moves can one take to shift the liquid assets to < $ 12, 600...? Would SPWL accomplish this? Or would it have to be in an irrevocable life ins trust...? I suppose pre-paying a funeral surely would help matters. Any other ideas...?
The object is to get her liquid assets below < $ 12K then she would qualify for extra help and be able to eliminate appx $ 100 mo in Part B LEP...
Last edited: