Retirement

Medicaid is a joint federal and state program that pays for health care services for those with low incomes or very high medical bills relative to that persons income and assets. Medicaid pays for nearly half of all nursing home care.

Generally, there is no limit to the duration of Social Security disability benefits.
If you qualify, you will keep collecting Social Security Disability benefits as long as your disability condition prevents you from working.
The Social Security Administration will periodically review your case to see if there has been an improvement in your disabled condition.
If you are once again determined healthy enough to work, your benefits will stop. If you are still receiving benefits when you reach age 65, your disability benefit will be automatically converted to retirement benefits.

Generally not. Medicare only covers medically necessary care under Hospital Insurance Part A and medical insurance under Part B. Long-term care is custodial care given at home or in a nursing home for people with chronic disabilities or lengthy illnesses. Private insurance companies sell long-term care insurance policies. For more information on long-term care insurance speak to your local CPA or get a copy of A shopper's Guide to Long-Term Care Insurance from the National Association of Insurance Commissioners at 120 W. 12th Street, Suite 1100, Kansas City, MO 64105-1925

Medicare is a national health insurance program for people ages 65+, or younger individuals with certain disabilities.
Like most other insurance programs, Original Medicare does not pay for all health care costs. You must pay for deductibles, premiums, coinsurance or copayments. Medicare has four parts:
A. Hospital Insurance - helps pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay), some home health care and hospice care.
B.Medical Insurance - helps pay for doctors’ services and many other medical services and supplies that are not covered by hospital insurance.
C.Medicare Advantage - plans are available in many areas. People with Medicare Parts A and B can choose to receive all of their health care services through one of these provider organizations under Part C.
D.Prescription Drug Coverage - helps pay for medications doctors prescribe for treatment. Go to the Social Security website for more information at http://www.socialsecurity.gov/medicareonly/

No. You may re-characterize your Roth IRA to a conventional IRA by filing an amended return. You would file IRS Form 1040X with Form 8606. This would enable you to get a refund on the Roth conversion payment amount you already paid with the original 1040 income tax return.

A defined benefit pension plan is a major type of pension plan in which an employer promises a specified monthly benefit on retirement that is predetermined by a formula based on the employee's earnings history, tenure of service and age, rather than depending on investment returns. The most common type of formula used is based on the employee’s terminal earnings. Under this formula, benefits are based on a percentage of average earnings during a specified number of years at the end of a worker’s career. In the private sector, defined benefit plans are typically funded exclusively by employer contributions. For very small companies with one owner and a handful of younger employees, the business owner generally receives a high percentage of the benefits. In the public sector, defined benefit plans often require employee contributions.

A Defined benefit plan is a pension plan in which the sponsor agrees to make specified dollar payments to qualifying employees.
The pension obligations are effectively the debt obligation of the plan sponsor.

Yes. The IRS lets you make changes from Roth IRAs to regular IRAs and back, more than once. After you re-characterize a Roth IRA to a regular IRA, you can convert it again but not until the following year, or thirty days later, whichever takes longer.

No. You are allowed to re-characterize your Roth IRA to a conventional IRA up until the final due date of the income tax return. This means the due date plus extensions translate from April 15th to potentially Oct 15th.