Family Caregivers: Get Reimbursed for Providing Your Homecare Services!
Many of us will gladly take Mom to her doctor's appointments, administer medications, and check in if the need arises without a second thought. But with millions of loyal children caring for aging parents out of their own pockets, a little financial relief is welcome. Few family caregivers are aware that you can get paid—however small the amount may be—to care for Mom and provide homecare services. Due to the long working hours, however, some adult children caregivers have...Read the rest of this article »Related Articles
Qualifying for Medicaid: What is Spending Down?
“Spending down” refers to the process of reducing one’s assets in order to qualify for Medicaid. Medicaid eligibility requirements are established by each state, so you will need to contact your state’s department of health to learn the present asset limit where you live. There are two different asset limits: one for the “Medicaid Only” program and one for the “Medically Needy” program. Different rules apply to married couples than to individuals, but in order to qualify for Medicaid...Read the rest of this article »Related Articles
State Long-Term Care Partnership Programs: An Overview
Both state and federal governments have begun to realize that long-term care costs have the potential to become a major budgetary problem in the not-too-distant future. One significant contributing factor is the large pool of baby boomers nearing or entering retirement, many of whom will require long-term care very soon. As a result, lawmakers have begun taking steps to encourage consumers to take responsibility for their own long-term care needs and purchase LTCI (long-term care insurance). One of the...Read the rest of this article »Related Articles
Paying for Senior Care with the Inheritance
As a financial planner for the elderly, one of the issues that I am frequently confronted with is the spending down of the inheritance to pay for the high cost of eldercare. All too often, when an aging person's health and care needs require important difficult financial changes to be made, the adult children's sense of financial bequest and expectation misdirects their decisions and actions, negatively impacting the quality of care received by their elderly parent. Many elderly people...Read the rest of this article »Related Articles
Assisted Living Explained: What They Are, What to Expect, How to Pay For One & How to Find an Assisted Living Facility
What They Are Assisted living is a general term used to describe residential facilities that provide care for individuals who cannot live independently, but do not require twenty-four hour skilled nursing care. With so many choices, however, many adult children face dilemmas when it comes time to find assisted living facilities for Mom or Dad. These facilities typically serve individuals age sixty and older, although younger persons with similar needs may be served as well. The typical assisted living...Read the rest of this article »Related Articles
