paying for care Articles

The Best-Kept Secrets of Senior Living Financing

best kept secrets of financing

best kept secrets of financingThink you know the ins and outs of paying for senior living? These financial facts may surprise you!

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Should You Sell Your Life Insurance Policy?

Should You Sell Your Life Insurance Policy-

Should You Sell Your Life Insurance Policy-If you can’t afford life insurance premiums into retirement and you’re considering surrendering your policy, don’t throw in the towel just yet. Instead of getting little to nothing for your policy, you can work with a life settlement company to secure a solid chunk of your benefit—without paying further premiums.

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Success Stories: The Difference Veterans Benefits Can Make

Success Stories: The Difference Veteran's Benefits Can Make

Success Stories: The Difference Veteran's Benefits Can MakeDid you know that veterans and surviving spouses who are eligible for a VA pension and require the aid and attendance of another person may be eligible for additional monetary payment? Though the Veterans Aid and Attendance benefit is often overlooked, it can make all the difference in the world for those who qualify.

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How to Select a Nursing Home in a Crisis

nursing home

nursing homeWhat do you do when your parents are in sudden need of a dramatic increase in care?

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Do You Really Need Long Term Care Coverage?

long term care

long term careFor some seniors, long term care coverage enables them to peacefully age in place. For others, the insurance is a needless expense. Which category do you fall into?

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#ElderCareChat Recap 3/18/15: Solving the Financial Conundrums of Caregiving

shutterstock_143469946During Wednesday’s live discussion, 69 new and returning participants brainstormed solutions for solving the financial conundrums of caregiving, from making home modifications an affordable, viable option to practical tools for managing an ever-changing and often burgeoning caregiving budget. (more…)

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#ElderCareChat 2/18/15 Recap: Legal Issues in Eldercare, Part 2

Review exclusive insights and advice from our guest expert, Certified Elder Law Attorney Howard Krooks, in this #ElderCareChat recap post. During Wednesday’s live discussion, 47 attendees dialogued about legal issues in eldercare. Joining the conversation to add his expert insights was Howard “Howie” Krooks of Elder Law Associates PA, Esq., CELA, CAP, and the Immediate President of the National …Read more ›

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Where to Find Various Financial Assistance for Elderly—in One Spot

Are you sure your elderly parents are getting all the benefits they’re entitled to?

In a column at PracticalMoneySkills.com, a website from Visa, a Visa senior director goes over some places to look for senior benefits and discounts. One of them is a central catch-all database for a number of programs:

The nonprofit National Council on Aging offers BenefitsCheckUp (www.benefitscheckup.org), a free, confidential web-based service that helps seniors …Read more ›

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Study: Seniors Spend About $40,000 on Medical Care in Final Years

How much can you expect to spend on medical care toward the end of life? About $40,000 on average, according to a study by Amy Kelley, a professor at Mt. Sinai School of Medicine. That’s out-of-pocket spending—not what Medicare covers.

The Washington Post reports:

The average Medicare beneficiary spent $38,688 out-of-pocket during the last five years of life. …

When Kelley broken down the costs by type of disease, she found that dementia patients …Read more ›

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Need Money for Elder Care? 3 Alternatives to Reverse Mortgages

There’s been a lot of talk about reverse mortgages lately, thanks to celebrity commercials and a recent report from the Consumer Financial Protection Bureau. But despite all the news they’re getting, reverse mortgages aren’t the only options older people have to generate cash—whether it be for elder care or other things.

Time mentions three alternatives in an article about how people misunderstand and misuse reverse mortgages:

But …Read more ›

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