Practical Solutions to Pay for Long-term Care

Author

Beneficent: LTC Funding Education & Options

Posted on

Jun 23, 2022

Book/Edition

Colorado - Denver Metro

Share This

70% of applicants applying for LTC Medicaid on their own are denied due to inaccurate information. 

Here in Colorado, the average cost for LTC is $8,758 per month according to 2020 state information. 

However, there are solutions for how to pay for the high costs of LTC that protect income and assets. 

Based on the statistics above there is a huge need for services that help people navigate the LTC Medicaid application. A Medicaid planning agency can educate on the financial programs available and expose the plethora of inaccurate LTC Medicaid information.  

Most Colorado Seniors who need help paying for LTC feel they will not qualify for Medicaid because they have too much income or assets. Some Seniors believe they must spend down (myth #1).  

In reality, many could qualify if they had the information from a knowledgeable professional, holding a Certified Medicaid Planner (CMP) designation. A CMP assists and educates on how to meet all qualifications, and can provide numerous opportunities to protect income and assets! 

Editors Note:  This article was written by Stacy Osborne, MBA CMP with Beneficent.  She can be reached by phone at 719 645-8350 or by email @info@doinggoodforothers.com.  

Other Articles You May Like

The Importance of Intergenerational Programming

Intergenerational programming is one of the most rewarding and positive experiences for all who are involved. Elders love seeing and interacting with the children, and younger generations can learn valuable life lessons from our Elders. In traditional settings, these interactions would take place in family gatherings where relatives visit the Elders, and they would see their grandchildren and great grandchildren which allows them to remain as an integral part of family and overall community. Meaningful interaction and socialization contribute immensely to well-being and positive mental health in older adults. Long-term care communities strive to maintain the important connection between the generations through unique opportunities with activities and programs. Summer camps or school service volunteer programs occur in nursing homes so that Elders can enjoy socializing with children and participate in group activities together. More specific interventions such as art and music therapy groups, where Elders can pair up with a junior volunteer or a child to build relationships and participate in artmaking and music playing, are some of the popular non-pharmaceutical interventions that bring myriads of benefits such as decrease in physical pain, depression, and loneliness, as well as an increase in confidence and self-esteem. Social integration between Elders and younger generations promotes overall strength and unity in our communities.              While it has been difficult to navigate through the pandemic to maintain these intergenerational opportunities due to limited visitation, utilizing technology for video communication allows connections between the Elders and younger generations. Many virtual communication and activity options are explored constantly, ensuring these valuable relationships continue to thrive.  Editors Note: This article was submitted by San Baek, the Director of Resident Life at Shalom Park Nursing Home. San may be reached at 303-680-5000 or by email at San.Baek@shalompark.net.

The Importance of Intergenerational Programming

Intergenerational programming is one of the most rewarding and positive experiences for all who are involved. Elders love seeing and interacting with the children, and younger generations can learn valuable life lessons from our Elders. In traditional settings, these interactions would take place in family gatherings where relatives visit the Elders, and they would see their grandchildren and great grandchildren which allows them to remain as an integral part of family and overall community. Meaningful interaction and socialization contribute immensely to well-being and positive mental health in older adults. Long-term care communities strive to maintain the important connection between the generations through unique opportunities with activities and programs. Summer camps or school service volunteer programs occur in nursing homes so that Elders can enjoy socializing with children and participate in group activities together. More specific interventions such as art and music therapy groups, where Elders can pair up with a junior volunteer or a child to build relationships and participate in artmaking and music playing, are some of the popular non-pharmaceutical interventions that bring myriads of benefits such as decrease in physical pain, depression, and loneliness, as well as an increase in confidence and self-esteem. Social integration between Elders and younger generations promotes overall strength and unity in our communities.              While it has been difficult to navigate through the pandemic to maintain these intergenerational opportunities due to limited visitation, utilizing technology for video communication allows connections between the Elders and younger generations. Many virtual communication and activity options are explored constantly, ensuring these valuable relationships continue to thrive.  Editors Note: This article was submitted by San Baek, the Director of Resident Life at Shalom Park Nursing Home. San may be reached at 303-680-5000 or by email at San.Baek@shalompark.net.

The Importance of Intergenerational Programming

Intergenerational programming is one of the most rewarding and positive experiences for all who are involved. Elders love seeing and interacting with the children, and younger generations can learn valuable life lessons from our Elders. In traditional settings, these interactions would take place in family gatherings where relatives visit the Elders, and they would see their grandchildren and great grandchildren which allows them to remain as an integral part of family and overall community. Meaningful interaction and socialization contribute immensely to well-being and positive mental health in older adults. Long-term care communities strive to maintain the important connection between the generations through unique opportunities with activities and programs. Summer camps or school service volunteer programs occur in nursing homes so that Elders can enjoy socializing with children and participate in group activities together. More specific interventions such as art and music therapy groups, where Elders can pair up with a junior volunteer or a child to build relationships and participate in artmaking and music playing, are some of the popular non-pharmaceutical interventions that bring myriads of benefits such as decrease in physical pain, depression, and loneliness, as well as an increase in confidence and self-esteem. Social integration between Elders and younger generations promotes overall strength and unity in our communities.              While it has been difficult to navigate through the pandemic to maintain these intergenerational opportunities due to limited visitation, utilizing technology for video communication allows connections between the Elders and younger generations. Many virtual communication and activity options are explored constantly, ensuring these valuable relationships continue to thrive.  Editors Note: This article was submitted by San Baek, the Director of Resident Life at Shalom Park Nursing Home. San may be reached at 303-680-5000 or by email at San.Baek@shalompark.net.

Local Services By This Author

Beneficent: LTC Funding Education & Options

Veteran Services 665 Southpoint Ct Ste 100, Colorado Springs, Colorado, 80906

Focused on Long Term Care Planning, we help families solve the problems created by the financial uncertainty when Long Term Care Services are required for a family member. Our clients benefit from step by step guidance which results in financial solutions to minimize spend down, preserve assets and limit out of pocket expenses. We provide full representation to our clients though out the Medicaid eligibility application and approval process. We give families peace of mind and predictability on the financial concerns surrounding long term care expenses of their loved ones.

Beneficent: LTC Funding Education & Options

Long Term Care Planning 665 Southpoint Ct Ste 100, Colorado Springs, Colorado, 80906

Focused on Long Term Care Planning, we help families solve the problems created by the financial uncertainty when Long Term Care Services are required for a family member. Our clients benefit from step by step guidance which results in financial solutions to minimize spend down, preserve assets and limit out of pocket expenses. We provide full representation to our clients though out the Medicaid eligibility application and approval process. We give families peace of mind and predictability on the financial concerns surrounding long term care expenses of their loved ones.

Beneficent: LTC Funding Education & Options

Health Insurance Information & Counseling 665 Southpoint Ct Ste 100, Colorado Springs, Colorado, 80906

Focused on Long Term Care Planning, we help families solve the problems created by the financial uncertainty when Long Term Care Services are required for a family member. Our clients benefit from step by step guidance which results in financial solutions to minimize spend down, preserve assets and limit out of pocket expenses. We provide full representation to our clients though out the Medicaid eligibility application and approval process. We give families peace of mind and predictability on the financial concerns surrounding long term care expenses of their loved ones.