Paying for Senior Care

  • How to Pay for Long-Term Care

    Families often struggle to find funds for their loved ones’ care, but adequate planning and awareness of all available options can make a world of difference in paying for long term care.

    6 Comments
  • How to Pay for Independent Living

    Understand how retirement communities differ from other senior living options and learn how various assets, income sources and benefits can cover the costs of living in an independent senior community.

    8 Comments
  • Medicaid versus Medicare: Who Covers Nursing Home Costs?

    While both Medicare and Medicaid may cover all or part of the costs of a nursing home stay, there are important differences to the rules. Determine which program will pay for your aging loved one's stay in a skilled nursing facility.

    2 Comments
  • How to Pay for In-Home Care

    Learn which financial options pay for care at home. Explore using Medicaid, Medicare, long-term care insurance, or veteran’s programs to pay for home health aides and personal in-home care.

    27 Comments
  • How to Spot Medical Billing Errors and Reduce Out-of-Pocket Expenses

    Medical billing errors are surprisingly common, and it is up to you to be diligent about understanding your health insurance coverage and correcting inaccuracies. Know what red flags to look for and how to handle errors before you pay the bills.

    4 Comments
  • How Can I Get Paid for Being a Family Caregiver?

    The vast majority of family caregivers do not get paid to care for an elderly loved one. However, there are a few options available that may allow a family member to receive payment in exchange for the care they provide.

    219 Comments
  • Using a Reverse Mortgage Loan to Age in Place

    A reverse mortgage loan is one option that may deserve consideration as retirement needs grow and savings and Social Security benefits may not be enough to retire on comfortably and with confidence.

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  • Veterans Can Receive VA-Covered In-Home Care

    Home care services are part of the VA’s standard healthcare benefits package. Learn how veterans and their caregivers can obtain the homemaker and home health aide services they are entitled to.

    27 Comments
  • Does Medicare Pay for Home Health Care?

    Home health care services and skilled therapy are covered by Medicare, but patients must meet 4 specific criteria in order to be eligible.

    6 Comments
  • How to Set Up a Miller Trust for Medicaid Eligibility

    A senior’s income and assets must fall below certain limits to qualify for long-term care Medicaid. “Income cap” states allow applicants to use a Miller Trust to help them meet income eligibility guidelines.

    1 Comment
  • Long-Term Care Insurance: How to Use a Policy and File a Claim

    Use this checklist to learn about an aging loved one’s long-term care policy and the information needed to file a claim for long-term care insurance benefits.

    1 Comment
  • Comparing End-of-Life Care Options

    Hospice, palliative care, home-based care, hospital-based care and long-term care facilities are all viable end of life care options. Compare end of life care types, where they are provided, the benefits offered and how these services are paid for.

    3 Comments
  • Helping A Loved One Enroll in Medicare: Where to Start?

    Understand the enrollment options and the basics of the Medicare system to save you and your family a great deal of money on healthcare costs.

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  • Should You Consider Long-Term Care Insurance?

    Long-term care insurance (LTCI) is one option for ensuring that you will be able to afford long-term care should you need it. This kind of product provides coverage for types of care that Medicare, Medicaid, and traditional health insurance do not.

    17 Comments
  • Medigap Plans: When Do They Make Sense?

    A medigap plan can save you money if you'll be undergoing surgery, are at risk for health issues or plan to travel outside of the United States.

    4 Comments
  • How to Sign Up a Loved One for Medicare

    Individuals enroll in Medicare during a period called “Initial Enrollment” that begins three months before the month they turn 65. During this time there are many decisions that need to be made.Take the time to explore the all coverage options under this program and how they work together.

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  • Personal Care Agreements: A Must for Caregiver Compensation and Medicaid Planning

    Caregivers often spend their own time and money looking after aging family members. A personal care agreement is a great tool for tracking your contributions, ensuring you’re fairly compensated and safeguarding your loved one’s Medicaid eligibility.

    34 Comments
  • Needs-Based VA Benefits Get New Eligibility Rules

    2018 updates to VA eligibility rules use net worth limits, spend-down restrictions and a lookback period to determine eligibility for benefits like the basic veterans pension, aid & attendance pension and survivors pension.

    82 Comments
  • What You Should Know About Medicare Part D Plans and the Notorious “Donut Hole”

    Not everyone will experience this expensive lapse in coverage but understanding how Medicare covers prescription drugs is crucial for choosing the right plan and minimizing out-of-pocket costs.

    5 Comments
  • When to Apply for Medicaid

    Medicaid can help with long-term care costs, but eligibility is determined by a combination of many factors. The rising cost of care makes planning in advance a priority when considering paying for senior care costs.

    8 Comments
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