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When families begin the search for senior care, how to pay for it is a concern that can come up quickly for many. Private funds typically cover a large percentage of the costs, but there are many other financing options that can assist. The list includes a unique program known as the Aid and Attendance Benefit.
The idea of talking with an aging parent about their finances can create stress and anxiety for adult children. You don’t want a senior loved one to think you are questioning their money-management abilities or worrying about their health. It’s an unfortunate reality, however, that emergencies happen more frequently with age.
Misinformation and finance-related scams, especially those that target older adults, are nothing new. In fact, in recent years, identity theft and similar types of crimes have become much more sophisticated. The FBI warns that the false information and scams related to the COVID-19 pandemic are too numerous to count.
Once you’ve decided to look for a senior living community, the next step is to begin your research. You’ll want to make sure you learn everything you can in order to make an informed decision. Finding a community that will meet your needs now and in the future is vital. It is also important to find a place that feels comfortable to you and your lifestyle.
We are nearing the end of Medicare’s annual open enrollment period for 2021. Have you taken time to review your options? This 8-week period was established to allow Medicare recipients time to explore different health care options. Whether it’s sticking with traditional Medicare or signing up for a Medicare Advantage plan, the window for making changes closes on December 6th every year.
If you haven’t searched for an assisted living community before, it’s easy to feel confused about the cost and pricing structure, and the options for financing care. Because every senior living provider does things a little bit—or sometimes a lot—differently, families find themselves struggling to understand the true cost of senior housing.
As the country grapples with the COVID-19 health pandemic, seniors may be worried about the future. When the days feel uncertain, it’s important to know you can count on your health insurance to cover your care needs. Medicare is the most common health plan for adults over the age of 65.
Most people are probably in agreement that advance care planning is important. The COVID-19 crisis has shined a spotlight on just how quickly health status can change at any age, but especially for older adults. Sharing your preferences for care or knowing what a loved one’s preferences are, especially in the event of a sudden accident or illness, can make a tough situation a little less stressful.