A Few Estate Planning Lessons Learned From Philip Seymour Hoffman

1. Make Sure To Have An Estate Plan

Oscar winner Philip Seymour Hoffman unexpectedly passed away at age 46 on February 2^nd, leaving behind an estate reported to be worth $35 million. Reportedly, Hoffman did only the basic of estate planning – a will and nothing else. It still remains to be seen how Hoffman’s estate will be divided.

2. Start Planning If You Know You Are Facing Personal Problems

Hoffman had faced alcohol and drug problems earlier in his life. He entered a drug rehabilitation program and remained sober for 23 years until relapsing in 2013. Hoffman passed away less than a year later. Police found injectable drugs at the scene of his death.

There is never a right time to start, but potential life threatening events are a signal to begin planning for what might happen after.

3. It’s Important To Have An Estate Plan Whenever Children Are Involved

Hoffman was survived by his three children, Cooper (10), Tallulah (7), and Wilia (5). It is important to think about estate planning whenever minor children are in the picture. If anything were to happen, who would be the children’s guardian? What about inheritance? How would you want your child raised?

4. Make Sure To Be Clear Who and What

Without proper dictation, it is hard for individuals who are not directly associated to receive anything under the law. Hoffman was survived by his longtime girlfriend Mimi O’Donnell, though they were never officially married. Legally undefined relationships such as this for example, may require additional planning in order to avoid any complications.

5. Update Your Documents

It’s important to keep your documents updated – a lot can change over time. Hoffman’s will was dated October 2004, his death was February 2014. Hoffman’s two youngest children were unmentioned in the will due to the fact that it was dated too far back.

Estate Planning questions? Contact New York Top Estate Planning Attorney Inna Fershteyn.

Call or visit the Law Office of Inna Fershteyn today.

(718) 333-2394

www.BrooklynTrustAndWill.com

1517 Voorhies Avenue, Suite 4

Brooklyn, NY 11235

How to Spot Medical Billing Errors

How to Spot Medical Billing Errors.Blame it on human error, the complexity of billing codes, or unscrupulous medical professionals, but one thing is for sure: medical billing mistakes are a common occurrence.

In fact, some estimates claim as many as eight in 10 medical bills issued by hospitals contain an error, costing consumers and insurance providers thousands of dollars every year.

“The errors that are being billed to the health-care payers, whether intentional or unintentional, are increasing due to the complex billing system,” says Pat Palmer, founder of Medical Billing Advocates of America in Roanoke, Va.

Medical billing experts explain hospitals across the nation use one universal billing system to charge patients and insurers. The system doesn’t provide an itemized list of the expenses on a bill, but rather lump sums under particular headings. The lack of an itemized bill makes it easy for mistakes to go unnoticed.

“Insurance companies don’t tend to ask for an itemized statement unless its $10,000 or more,” says Cyndee Weston, executive director of the American Medical Billing Association, in Oklahoma City.  She recommends consumers always request an itemized bill. “You won’t know what all those miscellaneous charges are that make up that one fee.”

To combat errors, experts recommend combing over itemized bills to spot duplicate or unwarranted charges.

Lisa Zamosky, health reform expert from WebMD, says some of the most common errors include longer stays in the hospital, tests or doctor visits that didn’t occur, or duplicate charges that should be already factored into the price of a hospital room.

According to Palmer, it’s common for a hospital to charge two or three times for the same thing. She says patients entering an operating room  are paying anywhere from $60 to $200 a minute depending on the procedure, but that per-minute charge doesn’t only cover the patient, it also covers all the costs to operate the OR.

However, it’s not unusual for a patient to be charged for a surgical kit and tray and then also be wrongfully hit with a separate charge for a knife or other instruments. “First and foremost, any payer should require a detailed itemized statement,” says Palmer. “Everybody is entitled to one…the hospitals don’t voluntarily hand them out.”

Zamosky adds that another way to help spot errors is for patients to review their explanation or benefits of EOB from the insurer. The EOB is a document consumers receive from their insurance provider that explains what was charged to the company and what will be covered.

Zamosky says the EOB should match the doctor’s bills and with what actually happened during the visit. “Check the EOB to make sure you are getting the rate your insurer has negotiated with in-network providers,” she says. “That’s especially important now that more of us have high deductible plans.” If the amount an insurer paid is the same as the amount the plan allows, it’s likely a patient didn’t get the negotiated rate. In that instance, patients should request the insurer reprocess the claim.

Consumers who find mistakes on their bill should call the hospital, doctor and insurance provider right away. If they don’t get anywhere on the phone, put the situation in writing and mail it to all the concerned parties. Most of the time, if an error is an honest mistake, a phone call to the billing department will correct the situation. However, if the situation becomes dragged out and not fixed, it might be time to enlist a health care advocate to dispute the charges,

“You need to investigate those bills regardless of it you have insurance or not,” says Palmer. “Don’t be intimidated. Question the charges.”

Source FoxBusiness.com

Top 5 Mistakes in Estate Planning

1. Not having an Estate Plan in Place and Waiting until the Last Minute

We can’t plan for every little thing that occurs in our lifetime and there is certainly no ‘right’ time to start planning. Thinking you’re too young to make one is no excuse for not having a plan. What are you waiting for? If you wind up in the hospital or become incapacitated, what happens next? With no guidelines and no plan you will be at a dead end. Seek a professional to help draft and review your estate plan. Which shall include a trust, a will, and a healthcare proxy.

2. Not Seeking Professional Help

With today’s technology and wide results easily provided by the Internet, there has been a huge increase in the number of people who take to the Web to prepare their documents. But there are many laws and issues that only a professional can provide accurate help and information with. Experience, knowledge, and skill are something the Web cannot provide. Moreover, only an attorney can notarize a will!    

3. Failing to Update Your Documents

If you start, something be sure to finish it, or at least keep up with it. Having estate planning documents is one thing, making sure they will be correct is another. There are too many changes that can happen over the course of a lifetime to rely on the same documents you started with.  

4. Not Being Aware of Taxes

If you anticipate that your designated beneficiaries will owe large sums to tax, you might want to look into efficient strategies to minimize estate and income taxes. For better insight, seek an experienced estate attorney to best negotiate your plan.

5. Not Focusing on the Basic Components

Don’t beat around the bush. Declare who gets what, what goes where, what happens when. Carefully and clearly draft how you want your assets to be distributed. The more detail, the better. After all, these are your life possessions at hand.

Call or visit the Law Office of Inna Fershteyn today.

(718) 333-2394

www.BrooklynTrustAndWill.com

1517 Voorhies Avenue Suite 4

Brooklyn, NY 11235

Five Top Reasons for Medicaid Fraud Investigation

Medicaid is a federal and state health coverage program that provides health care to people who are unable to pay for it themselves. It is offered free of charge to certain individuals and families, granted they meet the eligibility requirements.

There are usually two parties who are involved with receiving Medicaid; recipients and providers. Recipients pertain to individuals or families who are receiving Medicaid benefits. Providers pertain to individuals or companies that are paid by the Medicaid program, including doctors, dentists, pharmacies, clinics, hospitals, etc.

Usually, Medicaid Fraud investigations for either party occur when the investigator suspects that you have been lying or failed to disclose important information.

The top reasons behind Medicaid Fraud investigations against recipients include but are not limited to:

1. Falsification of information

The eligibility requirements for the Medicaid program are strict. If you lie or provide false information that does not match records and documents, it is likely that you will be targeted by investigators.

2. Failing to disclose important information regarding income and/or assets

Attempting to hide any information will also raise an issue with investigators. You can’t lie or hide documented information.

3. Failing to update the program on any changes regarding income/assets/relevant eligibility circumstances

Any changes that are related to Medicaid eligibility should be reported to the agency immediately or else it will be considered fraud. Changes in income, living situation, or any information that is considered by the program should be reported.

4. Abuse of Benefits

Some examples of abusing Medicaid benefits include; altering, forging, or obtaining duplicate prescriptions, re-selling medicine or products obtained through the program, and more.

5. Cheating with Medicaid cards

If you allow another person to use your Medicaid card or use more than one Medicaid card, you are committing fraud. 

The top reasons behind Medicaid Fraud investigations against providers include but are not limited to:

1. Cheating the billing system

Ultimately, this is one of the most common issues that usually result in Medicaid fraud because there are numerous ways that providers cheat the billing system. Billing for services not provided, billing for fake or non-existent medical conditions, billing for services that were not medically necessary, and other scenarios all fall under this common reason for Medicaid Fraud investigation.

2. Misrepresentation of provided services

Some examples include billing for more expensive services than actually rendered, billing twice for the same service, billing separately for services that should be billed together, dispensing generic drugs while billing for more expensive brand-name drugs.

3. Falsifying information

This includes submitting false time records, signatures, or price reports, prescribing or filling fraudulent prescriptions, and more.

4. Bribery

Some providers may choose to give or receive something in return for medical services or referrals. 

5. Violation of Medicaid rules

This includes: billing for services provided by unlicensed or uncertified personnel, billing for services provided by someone on a Medicaid exclusion list, and more.

Regardless of whichever party you pertain to or the reasons for investigation against you, do not try to handle this situation on your own. By the time you receive notice of Medicaid Fraud investigation, the investigator has gathered evidence against you and you will likely need the assistance of an attorney.

Contact an experienced Medicaid Fraud Attorney immediately. Attorney Inna Fershteyn has years of experience regarding Medicaid Fraud investigations and can help you by negotiating a settlement that reduces or eliminates penalties and interest – and, most importantly, by negotiating an agreement that your case will not be referred for criminal prosecution. To arrange a confidential consultation, call at (718) 333-2394 or ask your questions at www.BrooklynTrustAndWill.com

Law Office of Inna Fershteyn and Associates, P.C.

(718) 333-2394

www.BrooklynTrustAndWill.com

1517 Voorhies Avenue, Suite 4

Brooklyn, NY 11235