Learn more what federal-state health care financial assistance programs cover and does not cover for long-term care.
The good news is there are thousands of federal, state and private assistance programs designed to help seniors and others cover their basic needs.
This site discusses the prevention, detection and reporting of financial exploitation in assisted living and nursing homes.
Parents and their adult children can never begin too early to think about their families’ potential needs for care in their “golden” years.
It might be hard to imagine now, but chances are you’ll need some help taking care of yourself later in life. The big question is: How will you pay for it? Buying long-term care insurance is one way to prepare.
Nursing homes monthly bill rates can differ depending on what the residents’ health status is. But some facilities charge an all-inclusive fee for all medical services, while others provide different rates for physician services, lab tests, prescription drugs, etc.
Division of Assets applies only to married couples and can help pay for long-term living.
If the couple has few assets, and Medicaid gets involved to pay for the care of the person in the nursing home, they have a formula that lets the spouse keep the house and a car plus a certain part of their income. If there is quite a lot of money involved, and estate attorney or an elder law attorney should be consulted.
If a person is living in a nursing facility, receiving vendor nursing care, or requesting Home and Community-Based Services (HCB), federal law provides a way to protect some of that person’s assets for a spouse. The law also provides for setting aside income, if needed, for a spouse or dependents.
The cost of Assisted Living Facilities nationwide can vary from $2,000 - $5,000 per month. Sometimes people have a false sense of security about what their insurance will pay. It’s important to know right up front that Medicare will not pay for assisted living. But there are a few other options.
Social Security is commonly used as a source for covering the costs associated with long term, aging care. However, the average amount of a Social Security check is about $1,350, which is well short of the cost of long-term care.
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