Of course there is no set answer to this question, as assisted living cost can vary depending on the location of the facility, what they offer, whether it\’s connected with a religious affiliation and of course whether it is privately owned, or is run by a large assisted living company.  It may also depend on how much assistance the person needs of course.

There is a tremendous amount of difference in assisted living cost if the assisted living care is very limited. For example assisted living in a private home may comprise solely of meals, bathing and dressing. In assisted living facilities where the residents have their own rooms or apartments, there may be sumptuous meals offered off of a menu, special diets may be available, all manner of activities may be offered, as well as entertainment and even heated swimming pools with instructors provided. Many of the assisted living facilities are closer to an opulent cruise ship, complete with full service dining rooms with tablecloths and a huge crystal chandelier.

As you may have surmised, the assisted living cost of each of these will actually be miles apart. Keep in mind too that assisted living is used to fill in the gap between receiving home care and then a nursing home. Nursing homes typically have a nurse\’s desk, rails up and down corridors and in general look much like a hospital setting because the residents there need constant medical supervision.

The assisted living cost is generally thought to be approximately half of the cost of a nursing home. This may or may not prove true if the assisted living facility is in a luxurious apartment style facility. Some assisted living facilities also have a concomitant nursing home offering, which would prove very important when it is time to graduate to such.  In this manner, the resident is not moved out of the facility into brand new surroundings that may not please them at all, but rather they remain on the same grounds that they are familiar with, but with more care.

Put another way, an assisted living cost will vary too based on the physical aspect of the care needed. Assisted living is in no way a nursing home, and whereas one person may only need to be helped with taking their medicine each day, another may need help with going to the bathroom. Be sure and ask about such things when you are considering assisted living for your own loved one so that they do receive the care they need.

Article Source: http://www.articlesbase.com/elderly-care-articles/what-will-it-cost-to-place-a-loved-one-in-an-assisted-living-facility-2535674.html

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If you are interested in accessing additional information about assisted living facilities in California or across the country, check out www.800Seniors.com. After discussing your needs or the needs of your loved one, the individuals at 800Seniors will provide you with a full range of options and information to ease the decision making process.

As more Baby Boomers – 77 million strong – begin to slide into retirement, the term ‘assisted living’ is going to be on the lips of everyone from financial planners to family physicians.

Assisted living gives older adults a safe, sanitary and supervised living space to spend their sunset years. The number of Americans with an assisted living facility in their future is on the rise – the U.S. Census Bureau estimates that the population of Americans 85-years-and-older will grow by 33by 2010.

In addition, the U.S. Census Bureau estimates that approximately 6.5 million older people currently need assistance with daily living activities. The Bureau reports that number is expected to double by 2020.

With great numbers, however, comes great financial responsibility. How, after all, are people going to pay for assisted living services? Let\’s take a look:

What does assisted living cost?

The Census Bureau estimates that, on average, the per-diem rate for assisted living in a private room is about 60to-70of the cost of a similar-sized room in a nursing home. That could mean a bill of between $50 and $120 per day- and a good-sized case of sticker shock for potentially millions of Americans.

How can you pay for assisted living?

There are several sources of funds commonly used for paying for assisted living: Private funds, long-term care insurance, or sometimes veterans benefits. Private funds can come from personal investment portfolios, like 401k plans or Individual Retirement Accounts. Many people sell their homes, using equity that has built up over their lifetime, to pay for assisted living.

Seniors who do not want to sell their home may consider paying for services through a reverse mortgage, where long-time homeowners essentially borrow against the value of their home. The U.S. Department of Housing and Urban Development has a good analysis of reverse mortgages.

Long-term care insurance – an umbrella term for insurance that covers nursing home care, home-based health care, assisted living health care (in addition to other medical services) – can help shoulder the cost of assisted living for those who have a policy with a few restrictions:

• For example, most long-term care insurance policies won\’t cover the costs unless you are unable to perform two or more ‘activities of daily living’ (ADLs). Some examples of ADLs include bathing, dressing, eating, getting from a bed to a chair, using a toilet, and walking. Some insurers may evaluate with a physician of their choice – not yours – to see if your condition qualifies for coverage.
• The type of long-term care policy is critical, too. For instance, a ‘facility-only’ policy covers care received in a licensed Assisted Living Facility or Skilled Nursing Facility, but not care in an unlicensed facility or in your home. Better to get an Integrated Home Care policy with 100protection for care received either in a licensed Assisted Living Facility or Skilled Nursing Facility, or in an unlicensed setting, like your home.

In some cases, veteran\’s benefits can cover the costs of assisted living programs. To qualify, you\’ll need your military discharge papers (copies are fine); a valid medical condition (like blindness – but the condition need not be life threatening) that comes with a doctor\’s letter of validation, certain minimum financial asset conditions, and the filing of a formal application, called the Veteran\’s Application for Compensation and/or Pension, VA FORM 21-526, Parts A, B, C, and D.

Does Medicaid cover assisted living?

While Medicare won\’t pay for assisted living care, in some cases, Medicaid will. Specifically, Medicaid may pay for an assisted living stay of limited duration (mostly 90 days or less). But there are factors that could reduce or stop Medicaid from paying during that time period (for example, your physical condition hasn\’t improved during your assisted care facility stay). Payment statutes vary from state to state, and with Medicaid, financial help with assisted living costs is highly needs-based, i.e. the less money you have, the better chance you have.

Article Source: http://www.articlesbase.com/elderly-care-articles/paying-for-assisted-living-2740629.html

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SeniorHomes.com is a free resource for people looking for senior housing or senior care for a loved one or themselves. Browse valuable articles to help you through or search or find assisted living, independent living, Alzheimer\’s care, or a retirement community with our nationwide directory.

Published: June 22, 2007

It’s not a surprise that thousands of families across the nation are facing the challlenges of an aging population. The “sandwich” generation, those who are caring for their children as well as their parents, have been feeling the financial pinch of caring for loved ones. Paying the high cost of Elder Care can cost a family thousands of dollars a month. Too many families are unaware of how utilizing a loved one’s life insurance policy can not only pay for Assisted Living and Nursing Home care, but can maintain the standards of living for the remaining spouse.

Not too many financial specialist inform their clients who have purchased life insurance policies with a death benefit over $250,000 that they can utilize a somewhat unknown option on their life insurance to pay for the high cost of Elder Care. It is called a Life Settlement and it can fully take the financial burden off of families who struggle to keep their loved one in a quality facility.

A policy owner has the right to sell his or her life insurance policy to an institution for signifantly more than the cash value of the policy. For example, a life insurance policy with a $500,000 death benefit and a $75,000 cash value can be purchased for $250,000 and up. This money can be used now to pay for assisted living, nursing homes as well as in home services also. The procedure is relatively quick with minimal paperwork. It is senseless to struggle financially to pay for the needs of elderly loved ones when they can utilize their life insurance policy to pay for care. Many, many times life insurance policies lapse when a loved one goes into assisted living or a nursing home just out of financial neccessity as well as through medicaid planning.

Instead of letting a policy lapse or into surrendership, smart families are looking into life settlements as a funding source for the high expense of Elder Care.

Chuck Bongiovanni, M.S.W. has been helping seniors and their fanmilies for over 20 years in the assisted living industry. Chuck can help your family investigate your options for paying for Elder Care through a Life Settlement. You can go to his website at http://www.LifeTransitionsOnline.com or call him directly at 480-703-7005.

The United States has fought many wars throughout the world since that time to keep freedom here at home and continues to do so. From the beginning our country we established a program to care for the men and women of our military who fought in those wars.

The veterans aid and attendance program goes back to 1636 when Pilgrims of Plymouth Colony fought with the Pequot Indians. The Pilgrims enacted a law from English law that reads, “If any man shall be sent forth as a soldier and shall return maimed, he shall be maintained competently by the colony during his life.” In 1789 U. S. congress passed as law that pensions were to be provided to disabled veterans and their dependents and in 1811 the first domiciliary and medical facility for veterans was completed. 

There are Veteran’s hospitals, out-patient centers, nursing homes, residental care facilities and Veteran’s homes throughout the country.  When it comes to long term care priority is given to war disabled veterans who need nursing home care.  There is another benefit to help Veterans pay for long term care  called  the Aid and Attendance Improved Pension.  Veterans or their single surviving spouses can become eligible if they have a regular need for the aid and attendance of a caregiver or if they are housebound. Aid and Attendance care is defined as assistance with bathing, dressing, eating, medications, toileting, walking or a danger to oneself because of memory impairment.

The benefit is $1656 per month for the Veteran, $1949 for both the veteran and their spouse or $1056 for the surviving spouse, tax free for life.  To receive the Pension, a veteran must have served on active duty, at least 90 days, with at least one of those days during a period of war. Their must be a discharge under conditions other than dishonorable. Single surviving spouses of such veterans are also eligible. If younger than 65, the veteran must be totally disabled. If age 65 and older, there is no requirement for disability. There is no age or disability requirement for a single surviving spouse.

To be eligible these must be an expense for care either provided by an in-home care provider, family member or assisted living.  VA also looks are income vs expenses and the veteran’s assets.  Unlike Medicaid VA allows redistribution of assets in order to qualify.  It is very important the you seek the assistance of a trained professional who also knows Medicaid laws before giving any assets away. 

The secret for receiving a successful award for aid and attendance or housebound ratings is not in filling out the form but in knowing what documents and evidence must be submitted with the application. Knowing the secrets for a successful award — with the special case of long term care recipients — is 95% of the battle. Even though the form is challenging, filling out and filing a claim is a formality.  A knowledgeable consultant can provide information to shorten VA’s decision window of 6 to 12 months to possibly 3 or 4 months. A Veteran’s benefit consultant also understands how to maximize the benefit or avoid a denial. The consultant can also provide guidance for meeting the asset test. Finally, a consultant can provide the actual strategies for reallocating assets and he or she can arrange for trusts or income conversions to allow for the best possible accommodation of assets for beneficiaries thus avoiding or reducing taxes, family disputes and Medicaid penalties.

Contact us today to help you get the benefits you deserve.  Call 866-837-2659 or info@agingavenues.com

http://www.agingavenues.com/topics/aid-attendance-pension-for-veteran-s-and-spouses

I’m sure many adult children of aging parents and caregivers think about this question a lot.

The answer to the HELOC Blues is the Reverse Mortgage ! One of the ways to take out funds from a Reverse Mortgage is to take the money in the form of a credit line. Unlike a HELOC, the senior does not need a certain credit score or certain income to qualify. The senior only accumulates interest on the amount that they draw to use (remember there is never a payment on the Reverse Mortgage). The money that the senior is not using actually grows at an annual rate of approximately 4% (rates change without notice). This growth is TAX FREE !

According to AARP, this is the most popular way to take Reverse Mortgage funds. This gives the senior more control over when and how much of their equity they want to spend. The senior keeps the title to their house and the senior will keep any equity left after the loan is paid off. The loan is not due until the senior permanently vacates the property.
Talk to a Reverse Mortgage Specialist. This may be your new song to sing and it won’t be the blues !

Brenda Wheeler, Reverse Mortgage Specialist, M & I Bank

There are many online and classroom courses offered for older drivers. Organizations such as AAA and AARP are promoting the need for mature drivers to self evaluate and refresh their driving skills. Driving courses educate consumers regarding the physical, visual and cognitive changes that may occur with age and offer ways to improve driving safety. Also, drivers may receive a refresher course on rules of the road as well as tips for defensive driving. Some insurance companies offer a discount for participation in approved refresher courses.

As we age, certain functions related to driving skill may decline. These may include vision, hearing, cognition, reaction time, physical ability and loss of sensation. These changes may warrant an evaluation by a DRS.

A DRS is a person who has received specialty training in the areas of comprehensive driver evaluation, adaptive equipment and vehicle modification. Many occupational therapists have taken this specialty training and are helping people maintain their independence behind the wheel. Occupational therapy practitioners have the knowledge and experience needed to recognize changes that accompany medical conditions. They can then develop a plan that might include training and/or equipment recommendations.

While a driver refresher course is important in helping an older driver perform a self assessment of skills and identify potential areas of concern, a DRS is able to determine if these concerns warrant intervention to assure driver safety.
Submitted by Laura Noblitt, OTR, DRS; Senior Driving & Mobility Services, LLC