My loved one does not have funding to make a move, what are my best resources for assistance finding aid?
Obtaining resources to support out-of-home placement can be challenging. The first source to investigate is veterans’ assistance. If the person needing care is or was espoused to a veteran who served during a time of war then money may be available from the VA. This program, VA Aid and Attendance, is significantly under-utilized because so few people know that it exists. Check the VA website: www.va.gov. A veteran may be eligible for up to $1,788 monthly and a surviving spouse of a veteran up to $1,149 monthly (tax free).
If your loved one owns their home or other property there may be sizable equity value in such. Consultation with a qualified realtor is advisable to answer such questions as, “Should I sell as is or invest in upgrades?” Some realtors obtain a Senior Realty Specialist certification through specialized education and experience.
If there is no veteran connection or home ownership one may explore Medicaid as a funding source: www.cms.gov. The Area Agency on Aging is a good source to investigate financial assistance for those in need: www.n4a.org.
By the way, Medicare does not pay for long-term care. Another source is Long Term Care (LTC) insurance. However, the policy must be in force prior to arriving at the need for care. My recurring theme regarding all aspects of senior care emphasizes that one must not allow a traumatic situation to drive your decision process. Proper planning is exceedingly important in the funding arena as well as the decision to seek care consideration. Those of you who are considering your own future care needs may want to seek advice from your insurance agent or financial planning confidant for further information regarding LTC Insurance. Senior care is expensive.
I know people who are very conversant regarding VA benefits, LTC insurance, and senior realty specialty. You can contact me in the “Speaking and Advocacy” tab of this web site for my personal take as well as referrals to licensed insurance professionals.