- Financial & Legal Planning
- Movers & Estate Sales
- Real Estate Services
- VA Benenfits
2018/2019 VA Aid & Attendance Amounts
Elder Law & Legal Services
Elder law is an area of law that focuses on the legal needs of the elderly. These needs generally include retirement planning, medical costs, and estate planning. Attorneys who specialize in elder law usually have expertise in matters related to:
- Estate Planning
- Wills and Trusts
- Powers of Attorney
- Medicaid Planning
- Social Security
- Veterans Disability, other government benefit programs and VA Aid & Attendance
Estate Planning is a situation specific approach to ensuring you and your family have the correct legal tools in place in event those tools are needed. Some of the more common tools are the Last Will and Testament, Statutory Durable Power of Attorney, and Medical Power of Attorney. However, there are many options available when creating an estate plan, so it is important to work with an Attorney to create a specific plan to meet your needs. Elder law attorneys also handle issues concerning elder abuse. This includes physical abuse and financial abuse. Financial abuse occurs when someone takes advantage of an elderly person’s physical or mental incapacitation to steal money from him or her.
Medicaid Planning is utilized to preserve assets while still qualifying for Medicaid Benefits. One does not have to give away all of their assets to qualify for Medicaid Benefits. Assets can be structured under the State Medicaid rules to allow a person to keep their hard earned money while still receiving benefits.
Veterans Aid & Attendance Benefits
Veterans, their Spouses, and Widows may be entitled to benefits from the Veterans Administration if they need assistance with their activities of daily living (ADLs), such as eating, bathing, dressing, walking, etc. The “VA Aid Attendance” Pension benefit is intended to reimburse Veterans, their Spouses, and Widows up to $1,759.00 a month for medical expenses if they meet certain income and asset requirements.
Financial Service Companies & Planners
Financial advisors or financial planners and wealth managers provide a key role of being a trusted consultant who can advise seniors and their families on nearly all matters financial. They should work closely with their clients to develop a strategy to help them accomplish their financial needs and goals. It is important that a financial advisor have a comprehensive approach and be able to work with a senior’s tax professionals and attorneys.
Financial planners & Daily Money Managers generally provide the following services:
- Wealth Accumulation
- Asset Protection
- Retirement Planning
- Tax Planning
- Estate Planning
- Life Insurance
- IRA & 401(K) Rollovers
- Charitable Giving
- Long Term Care Insurance
- Retirement Income Planning
- Banking & Lending
- Financial Monitoring
Paying For Assisted Living
Pricing & How It Is Covered
Assisted living rates will vary from state to state and typically range from $2,000 to $5,000+ per month.
“Will Medicare pay for assisted living?” The answer is no.
1. Private Pay
2. Long Term Care Insurance
Long-term care insurance policies can be used to pay for assisted living. The policy will need to be activated and may require a health assessment; there may also be a waiting period, typically 90 days, where you would have to pay privately.
3. Veterans Aid and Attendance
Aid and Attendance is a benefit for Veterans of war and their spouses to help pay for assisted living. There are several requirements such as specific service dates, one day served during a time of war, honorably discharged, spouse could not have divorced the Veteran, at least two activities of daily living that require assistance (bathing, dressing, grooming, incontinence), and rent and care services must exceed one’s monthly income. The benefit can provide up to $1,758 per month to a veteran, $1,130 per month to a surviving spouse, or $2,085 per month to a couple.
4. Life Insurance Policy
A Life insurance policy can be cashed out. The first step is to contact your life insurance about accelerated or living benefits. If your insurance company cannot or will not buy back the policy, there are third-party companies that do and it is called “life settlement”. Typically the buy back for the policy is 50% of its face value and is determined on the amount of the policy, policy holder’s age, Another option you may qualify for if “life settlement” is not an option, is called “life assurance” benefit and is a life insurance conversion program, allows seniors to convert the benefit of a life insurance policy directly into long-term care payments. Typically this program will pay between 15 and 50 percent of the value of the policy.
5. Bridge Loan
Bridge loans are short-term loans of up to $50,000 designed specifically to provide the funds for a move to assisted living. This loan provides a line of credit to finance the first few months of living expenses while seniors sell their home, obtain veterans benefits, or take other actions to free up funds.
6. Reverse Mortgage
Reverse mortgages are ideal when one spouse needs assisted living and needs funds to help pay for care and the other spouse wants to remain in their own home. One of the requirements for a reverse mortgage, one homeowner must be over the age of 62. A reverse mortgage allows you to cash out the value of your home equity, either in a lump sum or in a series of monthly payments. The spouse can remain in the home until death, even if the loan balance exceeds the home’s worth.
If your loved one has limited funds, typically $2000 per month income and $2000 in assets, not including your home or car, Medicaid may be an option. Medicaid may also be an option when you have a couple who has a “healthy” spouse who desires to remain in their own home and their spouse needs assisted living. The “healthy” spouse may need to protect their portion of the assets so funds will be available should they need care.
Medicaid is Federally & State funded program and is administered by the state. A means-based (financial) qualifying program and pays for medical cost when individuals cannot. Assisted living options will be limited as not all accept Medicaid and often the ones that do accept Medicaid provide “shared” living accommodations.
The Community Care Services Program (CCSP) helps people who are elderly and/or functionally impaired to continue living in their homes and communities. For elderly and/or functionally impaired people, CCSP offers community-based care as an alternative to nursing home placement.
The Division of Aging Services, a part of the Department of Human Resources, administers CCSP.
CCSP offers community-based services to persons who:
- Meet the functionally impaired criteria when assessed by a local assessment team. The assessment team works with individuals and their families in developing plans of care which are approved by the individual’s physicians
- Would otherwise be moving into a nursing home
- Are eligible or potentially eligible for Medicaid
- Can be provided appropriate community services within state costs limits
The assessment teams helps an individual determine appropriateness for the program. A local case manager links eligible persons to community services.
- Emergency Response System (ERS)
- Home Delivered Meals (HDM)
- Respite Care (RC)
- Personal Support Services (PSS)
- Home Health Services (HHS)
- Adult Day Health (ADH)
- Caregiver Support
- Alternative Living Services (ALS) -State licensed residential settings that provide 24-hour supervision and health-related support services to persons unable to remain in their homes. Personal care homes enrolled in the ALS program are “home like.” Residents must be able to move about with minimal human assistance and respond to emergency.
Eligible persons may receive a combination of CCSP services. To achieve cost-effective service delivery in CCSP, case managers seek needed services from other community organizations. If you would like to know if you are eligible for any of the services CCSP offers, call 855-266-4283.
Information Provided by Legacy Link – Click for information. http://www.legacylink.org/home-based-services/ccsp/ another great resource http://aging.dhs.georgia.gov/community-care-services-program
Source blends primary medical care with preventive and supportive services for older and disabled Medicaid recipients, through a service known as “Enhanced Case Management.” (855-266-4283)
Key characteristics of SOURCE are:
- Financial and programmatic integration of primary medical care with case management of home and community-based services. SOURCE members are served by a panel of participating physicians.
- Expanded case management to ensure active advocacy for members in all components of healthcare.
- Provider performance standards exceeding basic licensing requirements; SOURCE providers are accountable in areas that include reliability of service, competency and compatibility of staffing, responsiveness to member preferences or concerns and coordination with case managers.
- Three levels of care – based upon functional needs of members.
All SOURCE members must:
- Have Medicaid and Supplemental Security Income; and
- Be 65 or older, with a chronic medical condition OR under 65 and disabled.
- In addition you must meet intermediate Nursing Home level of care criteria.
Targeted Conditions Include: Diabetes, High Blood Pressure, Asthma or other pulmonary problems, Arthritis, Stroke, Amputations, Spinal Cord Injury, Alzheimer’s Disease, etc.
Case Management, Primary Medical Care and Community Services are provided.
Community services available through SOURCE are:
- Home Delivered Meals
- Personal Support (Personal Care/Chore Services
- Respite for Caregivers
- Adult day health services
- Emergency response system
- Home health services
- Personal care homes
To find out if you or someone you know is eligible for the SOURCE program please call (855-266-4283) Information Provided by Legacy Link – Click link more information. http://www.legacylink.org/home-based-services/source/