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THE SAUGUS ADVOCATE – FRIDAY, JANUARY 21, 2022 Page 13 “YOUR FINANCIAL FOCUS” JOSEPH D. CATALDO MEDICAID ANNUITIES Assume a married couple has a home with a fair market value of $750,000 and a joint bank account of $600,000. Also assume the husband’s monthly social security benefit is $2,000 and the wife’s monthly social security benefit is $1,000. Also assume it is the husband that enters into a nursing home. Pursuant to Massachusetts regulation 130CMR520.019(D)(1), the husband can transfer his interest in the home to his wife without the imposition of the five-year look back period. The wife who is still at home can keep $137,400 of the bank account monies. The husband can only keep $2,000 in order to qualify for MassHealth nursing home benefits. For eleventh hour Medicaid planning in this example, OBITUARIES | FROM PAGE 12 until the time of her retirement in 2001. After retiring, Eileen dedicated her life to her grandchildren. She was a constant presence at all of their school functions, sporting events and activities. Her love for them was boundless. An animal lover, Eileen rescued countless racing greyhounds providing them with the life of luxury in their post racing careers. She was an avid Red Sox fan who watched all of the games, knew every player and their stats. A resident of Chelsea for most of her life prior to moving to Saugus, she was a loving mother, grandmother, aunt and friend who will be missed by all who knew her. She is survived by her daughter, Jennifer B. Curcio and her husband, Christopher of Peabody, two grandchildren, Elizabeth and Anthony Curcio of Peabody, two sisters-in-law, Patricia Fonzo of Rowley and Jane Fonzo of Lynnfield and many nieces, nephews and extended family. She was also the sister of the late Mary Petrosky, Jennie Fonzo, Florah Foley, Mike Fonzo and Sal Fonzo. In lieu of flowers, contributions the wife can purchase a Medicaid annuity in the amount of $460,600, in order to convert what would otherwise be countable resources required to be spent down on nursing home level care, to an income stream that she would receive on a monthly basis. The monthly annuity payment to the wife would be hers to keep in order to continue to be able to pay her monthly living expenses. The husband’s social security benefit would be required to be paid to the nursing home. He would be able to keep $72.80 as a personal needs allowance and would be given credit for any health insurance premiums that would continue to be paid in order to keep any existing health insurance policies in place. The $460,600 is arrived at by taking the $600,000 bank account monies less the $2,000 the husband can keep less the $137,400 the wife can keep. The $460,600 in excess assets is what will be used to purchase the Medicaid annuity. The goal would be to purchase the shortest-term annuity for the wife. The term of the annuity cannot may be made in Eileen’s memory to the Cape Ann Animal Aid, 4 Paws Lane, Gloucester, MA 01930. Verna Belle (Gould) O’Neill be greater than the wife’s life expectancy. If the wife was 75 years old with a life expectancy of 12 years, you would still look to purchase an annuity with a term of no longer than five years. The sooner the wife collects on the annuity, the greater ability she would have to plan in order to protect those annuity payments if she so desires. MassHealth is now requiring to be named as the remainder beneficiary of the Medicaid annuity to recover nursing home benefits paid on behalf of the nursing home spouse. Therefore, if the wife were to collect all or a majority of the annuity payments over that five- year term, and if the wife were to die having never gone into a nursing home, those monies accumulated would have been protected for the children. Once the home is in the wife’s name, she has the option of then transferring to an irrevocable trust in order to avoid probate, start the five-year look back period running, and to leave the home to her children in order to preserve the asset for the next generation. Age 100, of Saugus, passed away peacefully at home on January 7, 2022, surrounded by her children. She was the wife of the late John J. O’Neill and the late George O. Hilton. Verna was born in Princeton, ME on November 7, 1921 to Mona and Chester Gould, parents of 10 children. Verna graduated Salutatorian from Princeton High School in 1939. She then moved to Lynn, and eventually became a Heliarc Welder at the General Electric Company with over 30 years of service. Verna, affectionately known as “Ma,” retired in 1978 and began her second career as a volunteer Family Advocate for Domestic Violence in the Lynn Court System, for over 12 years. She was a volunteer Aerobics Instructor at the Saugus Senior Center for over 20 Years, stepping down at the age of 85. She was also a Certified Lay Minister at Trinity Methodist Church in Lynn, until its closing in 2011. Ma’s hobbies included knitting, crocheting, ceramics, and cooking (famous for her Italian spaghetti sauce and her scrumptious chocolate cream pies.) She just loved Keno. Ma was also a member of Mina Perry’s Bellydancing Troupe for over 20 years. Ma will be forever loved and missed by her children: Barbara Brewer of Middleton, George Hilton and wife Janet of Georgetown, Lee Hathaway of Saugus and Son-In-Law Barry Hathaway and wife Linda of Topsfield. She was predeceased by her son-in-law, Donald Brewer. We would have no other for our mother. Ma will be lovingly remembered by her grandchildren: Michael Marren of Lynn, David Marren and wife Rona of York, SC, Barry Hathaway of Saugus, David Hathaway and wife AnOBITUARIES | SEE PAGE 17 WIN WASTE | FROM PAGE 1 concepts on what we can do – and we will present them at the next meeting,” he said. Connolly told the subcommittee that he and the company will make a PowerPoint presentation at the subcommittee’s next meeting, which is set for Feb. 16 at 7 p.m. in the second floor auditorium at Saugus Town Hall. Board of Selectmen Chair Anthony Cogliano, who co-chairs the panel with Board of Health Chair William Heffernan, said he thinks it might take several meetings to review WIN’s proposal. The subcommittee, which in recent weeks has been referred to as the Landfill Committee, was created by the Board of Health in late 2020 to promote a better working relationship with WIN (formerly Wheelabrator) on issues related to the incinerator and ash landfill. A main focus of the committee members over the past year has been the development of a new Host Community Agreement that addresses a wide range of health, safety, environmental and community issues. These are key issues that members want to see as part of the agreement: • All members agree health is most important, and company officials should verify they are doing all they can to make sure everyone is safe in Saugus and surrounding communities. • The subcommittee would like to look into a program like Massport with Winthrop with the noise issue there. • Continue testing for public safety, continue to work with the subcommittee, striving as much as possible to clean, quality air coming out of the stacks while lowering noise levels and testing what is in the ash; water testing, especially around all three landfills. • Co-Chair Cogliano wants to know about air quality monitors. • Lower NOx (nitrous oxide) levels without purchasing credits. • Keep upgrading facility to invest in it to make it more modern. • Plan Comprehensive Health Study, funding for air quality testing and small particle testing; funding for noise monitoring. • Construction of a third Fire Station to cover the west side of town. • Free tipping fees. • Striving for air quality for a better quality of life. • Create a subcommittee for closing of the ash landfill. In an interview after the meeting, Connolly said he is optimistic that the company will offer a response for all of the important issues raised by the subcommittee. “Having a frank discussion and sharing ideas has been very helpful to us,” Connolly said. “This process has really helped improve relations between the company and the town. Relationship-wise, this is the most positive place we’ve been in quite some time,” he said. As part of Wednesday night’s meeting, committee members, at the request of Cogliano, signed a letter addressed to Massachusetts Department of Environmental Protection Commissioner Martin Suuberg. The letter was meant “as a follow-up” to a letter that Suuberg sent to state Rep. Jeffrey Turco (D-Winthrop) last fall. Commissioner Suuberg noted that his agency’s opposition to future expansion of the landfill was based on its location within an area of Critical Environmental Concern (ACEC). Jackie Mercurio, one of the toughest plant critics on the subcommittee, had presented copies of the letter at the subcommittee’s last meeting. She was one of several people who had met with Suuberg prior to his writing the letter. Several committee members had taken issue with Mercurio meeting on her own with the commissioner. “The primary reason for this correspondence is to acknowledge and concur that, as you pointed out, any change to the monofill would require additional permitting. That has never been in doubt or dispute,” the committee’s joint letter to Suuberg stated. “We also seek to illuminate other important facts regarding WIN Waste and the Town of Saugus. First, and significantly, there has been a marked improvement in communication between the company, the Town and the community over the last few years due to a lot of hard work by all parties. This progress was accelerated in November 2020 when the Board of Health formed a committee designed specifically to enhance communication,” the letter continued. The letter also mentioned the committee’s efforts to facilitate the development of a Host Community Agreement. “We have confidence in Saugus officials who would be charged with objectively evaluating any proposal from the company to see if it is worthy of pursuing. The work of the landfill committee represents a first step in that process,” the letter said. “We believe it is important for you to know that the response to the work of the landfill committee has been largely positive. People are pleased that this landfill committee is working with WIN to improve the reWIN WASTE | SEE PAGE 16

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