For many seniors, one of today’s biggest struggles is figuring out how to pay for assisted living care. Typically, people turn to public sources, such as Medicare and Medicaid. For seniors on Medicare, the first 100 days of in-patient assisted living care is typically covered. After the initial 100 day period is over, an expensive daily co-pays kick in, or a patient would be forced to switch to Medicaid.
Family members face a number of decisions When a Social Security Beneficiary Dies. While many individuals think they are prepared for the death of a loved one, there are still issues that arise, and dealing with the Social Security Administration is certainly one of them. In addition to making final arrangements for the loved one, notifying the Social Security Administration (SSA) as soon as possible is crucial to avoid issues in the future.
Contacting Social Security
Preparing for Elderly Parents to Move In can involve a mix of emotions and be a physically and emotionally draining experience. Nearly every family will adjust comfortably to this new situation eventually, but there are some steps you can take prior to their arrival that will make the adjustment period much shorter and easier to manage.
Creating a Budget
When you reach the end of your life, you may not be able to adequately make decisions, or express your wishes. This is often due to restricted mental capacity, often caused by illness. Your family, doctors, and other medical professionals need to know what your wants are so that they can be followed. In order to plan for this, health care directives, living wills and do-not-resuscitate orders are three things that you want to have in place.
Do-Not-Resuscitate Orders
Over the past century, the average life expectancy has increased 30 years. Due to advanced technology in medicine and vaccinations, healthier life styles, and numerous other factors, the older population is continuously growing. The question is, how does one live years beyond the average life expectancy of our time and live to be 100 years or older, as a healthy centenarian? To find out the secrets of a healthy centenarian, one must go beyond simply comparing the lifestyle and habits of centenarians to the average person, who lives to be about 80 years old.
If you are planning to leave money or property to a loved one with a disability when you pass away, you should plan carefully. Without a proper plan in place, you may put your loved one's ability to receive Supplemental Security Income (SSI) or Medicaid benefits at risk. If someone in your family has special needs, an elder law attorney can help you set up a special needs trust.
For many seniors, one of today’s biggest struggles is figuring out how to pay for skilled nursing facility. Typically, people turn to public sources, such as Medicare and Medicaid. For seniors on Medicare, the first 100 days of in-patient skilled nursing facility is typically covered. After the initial 100 day period is over, an expensive daily co-pays kick in, or a patient would be forced to switch to Medicaid.
Did you know that less than 1/3 of Americans over 50 have begun to save for long-term care? Planning ahead can help you and your family learn more about the benefits of this type of insurance. Even if you haven’t started planning for the cost of long-term care, you may still find that long-term care insurance is the right choice for you and your family.
