Sep 29, 2014 10:00:00 AM
Feb 11, 2014 7:00:00 AM
Deciding that it's time to move one of your parents or other loved ones into an assisted living facility can be an emotional and difficult process. In addition to the challenges that come with making the decision and moving from an independent living arrangement to an assisted one, it's also extremely common to worry about how to pay for the care your loved ones will need. Fortunately, there are many funding options that can help you let go of some of your worries.
Topics: Seniors, senior resources, benefits, senior care, finances, insurance, medicare, long term care insurance, financial options, bridge loans. long term care insurance, reverse mortgage, senior health care plans
Sep 25, 2012 8:00:00 AM
As the adult child of an aging parent, you no doubt do your very best to respect your parent’s life choices and not to intrude with unwanted advice. But, there’s one area where you should weigh in (albeit gently and respectfully) – your loved one’s long-term care financial planning.
May 15, 2012 8:00:00 AM
Sometimes, an unforeseen event can force you to rapidly move your loved one into an assisted living community. When a situation like this arises, it can cause financial strain if funding sources are not immediately available – for example, if most of your loved one’s assets are tied up in their home and life insurance policies. A good solution for many seniors and their families is the senior line of credit. This option allows you and other family members some breathing room and time so you can liquidate assets at the best possible return to pay for your loved one’s housing and care and so you can evaluate longer-term financial plans to fund your loved one’s needs.
Apr 3, 2012 8:00:00 AM
Medicare and Medicaid are sometimes confused; it’s important to understand that these programs are not the same. While Medicare serves all retirees over the age of 65 who paid into the Social Security system for a specified time period, Medicaid is the health program for individuals and families with low incomes and negligible resources. It is means-tested and jointly funded and administered by the states and federal government. Medicaid is the largest U.S. funding source for medical and health-related services for those with limited income.
Feb 14, 2012 1:30:00 PM
A reverse mortgage is a loan for seniors that allows them to convert their home equity into cash. The homeowner is not obligated to repay the loan for as long as the home is their principal residence.
Aug 25, 2009 1:14:00 PM
There is a little known and little used program available for veterans an/or spouses that will allow for financial support for assisted living, nursing home, or housebound individuals. The program is for Veterans and the Veteran’s Spouse. In some cases if the Veteran and the spouse are divorced, the benefits may still be available.
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