Paying for Senior Care

Understand how retirement communities differ from other senior living options and learn how various assets, income sources and benefits can cover the costs of living in an independent senior community.

The high cost of a nursing home stay can overwhelm seniors and their family members very quickly. Depending on the circumstances, Medicare, Medicaid or both programs may be used to cover nursing home expenses.

Home care payment options include Medicare and Medicaid plans, but VA benefits and long-term care insurance may also help pay for care.

Most seniors cover assisted living costs with savings, Social Security, retirement funds, and home equity. Some government programs and financial tools may help, too.

Medical billing errors are surprisingly common, and it is up to you to be diligent about understanding your health insurance coverage and correcting inaccuracies. Know what red flags to look for and how to handle errors before you pay the bills.

The Medicare hospice benefit provides comfort care for patients who are terminally ill and facing the end of life. Original Medicare does cover hospice services.

Interested in taking care of elderly parents at home and getting paid? There are many resources that pay family caregivers for their services.

A reverse mortgage loan is one option that may deserve consideration as retirement needs grow and savings and Social Security benefits may not be enough to retire on comfortably and with confidence.

The VA’s Homemaker and Home Health Aide program provides home care for veterans, which includes assistance with personal care and daily activities.

Medicare covers short-term, medically necessary home health services like wound care, injections, physical therapy, and health monitoring.

A senior’s income and assets must fall below certain limits to qualify for long-term care Medicaid. “Income cap” states allow applicants to use a Miller Trust to help them meet income eligibility guidelines.

Use this checklist to learn about an aging loved one’s long-term care policy and the information needed to file a claim for long-term care insurance benefits.

Hospice, palliative care, home-based care, hospital-based care and long-term care facilities are all viable end of life care options. Compare end of life care types, where they are provided, the benefits offered and how these services are paid for.

Understand the enrollment options and the basics of the Medicare system to save you and your family a great deal of money on healthcare costs.

A medigap plan can save you money if you'll be undergoing surgery, are at risk for health issues or plan to travel outside of the United States.

Individuals enroll in Medicare during a period called “Initial Enrollment” that begins three months before the month they turn 65. During this time there are many decisions that need to be made.Take the time to explore the all coverage options under this program and how they work together.

A personal care agreement is a contract between a care recipient and caregiver who provides their services for compensation. This binding contract defines a caregiver’s duties, ensures they’re paid fairly and safeguards a senior’s Medicaid eligibility.

2018 updates to VA eligibility rules use net worth limits, spend-down restrictions and a lookback period to determine eligibility for benefits like the basic veterans pension, aid & attendance pension and survivors pension.

Not everyone will experience this expensive lapse in coverage but understanding how Medicare covers prescription drugs is crucial for choosing the right plan and minimizing out-of-pocket costs.

When a senior is hospitalized, it’s crucial to find out whether they’ve been admitted as an inpatient or registered as an outpatient under observation. This governs whether Medicare will cover their hospital bills and care in a skilled nursing facility.