Paying for assisted living is a challenging proposition. Fortunately, there are some things that you can do to help defray the expenses that you (or your senior loved one) have to pay for out-of-pocket. Here’s more information.
If you are looking for help with short-term care, look at your Medicare options
Available beginning at the age of 65, Medicare is a program that is there to help with a senior’s short-term care needs. Following a required surgery or a stay in a hospital, Medicare can help out with the expenses coming from a short stay in a nursing home or assisted living facility. If your elderly loved one will only be in assisted living for a short time, consider whether Medicare could be the appropriate vehicle for helping pay the bills.
If you need help with long-term care, consider whether Medicaid might be the solution
Medicaid is available to help seniors who are having a hard time paying for long-term care. There are a few caveats, though, so you should inspect this option carefully. First, the specific Medicaid rules will vary from state to state. This means you need to figure out how it operates in your state.
Second, Medicaid is not for everyone. It is designed to help seniors who have a low income, or whose medical expenses exceed their ability to pay. Still, if you’re even reading this article, there’s a good chance that your senior loved one will fit this description, so Medicaid is definitely worth checking out.
Is your senior loved one a veteran? If so, he or she may be able to get VA assistance
There are VA funds available to help those seniors who are veterans and served during a time of war. These funds vary widely depending on the exact situation with your elderly loved one. Depending on a number of factors, your senior loved one could be able to get a pension of up to $25,000 per year to help defray the costs of in-home care. The VA is definitely worth checking out if your senior loved one qualifies as a veteran.
Of course, the above are only government-provided options. There are many other resources available to help seniors cover the cost of assisted living. It would be good to contact a financial advisor or community counselor in your area. He or she can direct you to other resources that may be available.
If you’re just not sure where to go, try contacting your community senior center. They should have a wealth of information available. Do your homework, and spend some time filling out the right forms, and you may be surprised at just how much help is out there for seniors who need it.
Let us help you!
Do you have other questions related to senior issues? Here at The Birmingham Cottages, we devote our time to seniors and the issues they face in today’s society. Please feel free to contact us and ask whatever questions you may have.