Did you know there are financial assistance programs available to veterans who need assisted living care? Our veterans made numerous sacrifices to uphold the freedom we enjoy today while their families kept the home fires burning. They are entitled to many benefits in appreciation for all they endured for America.Veterans benefits for senior living are available for qualifying veterans and their surviving spouses, as long as the veteran served at least 90 days of active duty, including at least one day during a wartime period, and received an honorable or general discharge.Veterans Aid and Attendance for assisted living careOffered through the Department of Veterans Affairs, Aid and Attendance is a monthly pension benefit that can help cover the costs of assisted living care. It is available for wartime veterans and their spouses who have limited income and require the regular attendance of a caregiver.Aid and Attendance is designed for individuals who need assistance from another person to complete everyday activities such as bathing, dressing and assistance with other daily activities. A veterans need for this benefit does not need to be the result of their military service.Funds received from Aid and Attendance benefits can offer a monthly benefit to help pay for assisted living and long-term care for a qualifying veteran and their spouse. The actual monthly benefit is determined by the veterans assets, income and medical expenses and conditions.Contact your local county Veterans Services office with questions on how to apply by visiting www.benefits.va.gov/vso.MedicareMedicare will pay for short-term care at nursing and rehabilitation facilities for seniors who need these services after an illness or injury that requires hospitalization. Medicare does not cover the cost for assisted living, home care or other senior living services.Long-Term Care BenefitsThe Veterans Administration provides both short- and long-term care in skilled nursing settings for veterans who cannot care for themselves. This benefit does not cover assisted living or home care.Housebound BenefitsVeterans confined to their homes and requiring assisted living care may be best suited to receive Housebound benefits. This program provides an increased monthly pension amount for those confined to their home due to a permanent disability.Applying for BenefitsThe Veterans Administration has regional offices that provide Veteran Service Organization representatives who may be able to answer simple questions about assisted living benefits, as well as provide free, basic advice on the application process.Many veterans seeking advice on applying for assisted living benefits hire a qualified attorney accredited by the VA or an accredited claims agent, who has passed a written exam about VA laws and procedures.The application process for assisted living benefits is often very lengthy. It is important to be thorough when completing the application and have all required documentation gathered and ready to submit.There are additional financial options to pay for assisted living care for individuals who do not qualify for veterans benefit. Click to find out more about financial options for senior living.Country Meadows offers affordable assisted living or personal care on its nine campuses in Pennsylvania and one in Frederick, Maryland. Our friendly co-workers are always available to help! Contact us today for more information.
Medicaid is a government program that provides health coverage to individuals, and it is the leading payor of skilled nursing facility care in the United States due to the high cost of such care. Many people mistakenly believe that Medicaid is only for those with minimal resources, but an asset protection plan can help you protect your assets and still qualify for long-term Medicaid benefits.Asset protection planning uses exemptions that allow you to keep some of your assets. For example, in Pennsylvania, you are allowed to keep $45 of your income per month plus any amount you use to pay for health insurance; the rest of your income must be used to pay for your care. When applying for Medicaid, countable resources include assets such as real estate, cash, investment accounts, retirement accounts, life insurance with a face value greater than $1,500, vehicles, and any business interests. However, you can exempt the house you live in, one vehicle, and your spouse can retain their retirement accounts and anywhere between $29,724 and $148,620 of the joint assets, depending upon the total amount of your combined assets. Anything over this calculated amount of exemptions could be put into an asset protection trust and protected from skilled nursing facility costs.An asset protection plan will allow you to immediately protect a portion of your assets, in addition to the assets that are exempt from Medicaid, for significant immediate savings that begin the moment your plan is fully funded.An asset protection plan consists of an asset protection trust, in which you can control the assets, but cant have direct access to them. Giving up direct access to the assets in the trust keeps creditors and predators away. If you do need access to an asset in the trust, you always have the ability to make distributions to someone other than yourself.Asset protection plans not only protect your assets during life but also provide tremendous value for your loved ones when youre gone.Laws and statutes in the area of long-term care Medicaid are always changing, so its highly recommended to review your options with a local elder law/estate planning attorney. At Bellomo & Associates, we can help you learn more about asset protection plans and how they can benefit you and your family while protecting your legacy from the rapidly rising cost of long-term care. Dont wait lets get your estate plan in place!Are you ready to start protecting your assets and planning for long-term care? Contact Bellomo & Associates today to register for an educational workshop. We can help you create a customized asset protection plan and provide guidance on long-term care Medicaid eligibility and planning. Dont wait until its too latetake action now and secure your financial future.
Informed Decisions: Benefits of Professional Senior Living AdvicePosted: February 22, 2024 , in My Care Advisors PodcastFor older adults, few decisions carry as much weight as selecting the ideal Assisted Living Community to meet their needs. With a staggering number of nearly 31,000 Assisted Living Communities across the U.S., the task of finding the perfect match can feel daunting, overwhelming, and emotionally draining.However, enlisting the expertise of a seasoned senior living advisor can help alleviate these burdens. By partnering with a knowledgeable professional who comprehensively understands the continuum of senior care options, tailored to individual needs and preferences, you can navigate this pivotal transition with confidence. Such advisors not only ensure the quality of life for you or your loved one but also offer invaluable support throughout every step of the decision-making process. From clarifying intricate details to providing emotional reassurance, their guidance proves indispensable in securing a comfortable and fulfilling living arrangement for seniors.Click to listen to this episode:Tune in for insights and resources from Tracy Toomer, Certified Senior Advisor and Owner at CarePatrol Collin County-Central.About Tracy Toomer:Tracy Toomer is President and Owner of CarePatrol of Collin County. CarePatrol is the nations largest senior care solutions franchise in the United States. Through more than 200 offices in 35 states, local senior advisors provide a free service in helping families find quality, top-rated assisted living, independent living, memory care, and in-home care.Toomer is a seasoned business executive with more than 25 years of experience in the specialty retail, grocery, restaurant, fitness and now in senior healthcare. In recent years Toomer served as vice-president of operations for the largest Planet Fitness Franchise, with over 168 locations in 14 states. There she built an operations team of seven regional directors and grew from 69 gyms to 168 gyms through two acquisitions and organic growth.Toomer holds a Certified Senior Advisor (CSA) designation awarded to qualified, multidisciplinary professionals serving older adults. Tracy is active in the senior community and brings a creditable and important voice to finding safer senior living. Each month, Tracy facilitates mental aerobics at the Wellness center for Older Adults in Plano, Texas.In 2022 Tracy earned the Compassion Ambassador Award from CarePatrol Franchises, LLC amongst her 180 Franchise peers. Her dedication to the families and those living with dementia inspired the Franchisees to do more; to contribute more for a huge segment of their client base.Tracy Toomer is a proud southern California native but currently resides in Allen, Texas with her parents and four-legged brother Bruno. Show/Episode Notes:Learn what the role of a Senior Living Advisor means and some of the services they offerDiscover how working with a Senior Living Advisor can help you navigate the complicated world of Assisted LivingHear about the importance of working with a Senior Living Advisor to avoid potential dangers or hazardsWalk away with tips and tricks from Tracy Toomers past experiences Determine some of the resources available to you and where to find them