Seniors with special needs may benefit from assisted living. It can be difficult to know if your loved ones are a good fit for assisted living. We will discuss some indicators that your loved one is ready to move into assisted living and how they can benefit from assisted living.
Benefits of Assisted Living
Personal Care Problems: Seniors often choose assisted living because they have difficulty with personal care tasks. Assisted living in Myrtle Beach may be a good option if your loved one has difficulty dressing, grooming and bathing themselves. Reflections Assisted Living staff can assist residents with personal care tasks, so they can continue to live independently but still have access to help when necessary.
Decline in Cleanliness: With declining mobility, it becomes more difficult to keep up with housework such as cleaning and laundry. It could be a sign that your loved one is having trouble keeping up with their housework. Seniors can be relieved of these responsibilities and still retain their independence.
Loneliness: Seniors can feel lonely and isolated if they live at home, particularly if they no longer drive. Long periods of isolation have been shown to be linked with obesity, depression, and Alzheimer’s disease. Reflections Assisted Living at Carolina Forest is a positive step for many seniors.
Safety concerns: Seniors are at risk from falling, injury, or other accidents within their homes. You may be concerned about your loved one having an emergency at home if they live alone. You don’t have to worry about your loved ones being left alone in an emergency. With senior living in Myrtle Beach, the staff is available 24/7 and are always on-hand for assistance.
Difficulty driving: Many seniors abandon driving after a while, which can leave them feeling frustrated and isolated at their home. Residents can use assisted living facilities to transport them to appointments and other social events. This allows residents to go out and enjoy their favorite places without having to drive.
Frequent forgetfulness: Although everyone experiences forgetfulness from time to time, some people find it more common and more burdensome as they age. If it becomes a regular occurrence, forgetting to lock the front door or set the alarm can lead to serious consequences. Our company provides a safe environment and can remind seniors to make appointments. We also provide transportation and help with memory loss.
Costs of assisted living
Care costs will vary depending on the size and level of care required. Monthly care includes all expenses, including meals, personal care, housekeeping, community activities and access to amenities. There is an additional charge for medication assistance, hair styling and other personal care.
Seniors often use financial aid to help pay for assisted living. It is important to remember that Medicare doesn’t cover assisted living. This surprise surprises many seniors and their families when they start to look into assisted living. There are still other options.
Medicaid and its Waiver Programs
Medicaid provides financial assistance to seniors who are eligible for the program. Medicaid is not federally regulated like Medicare. It is a joint program of the federal government and the states. Each state has the ability to set its Medicaid guidelines and can also vary in how it covers assisted living.
Medicaid is a waiver program that covers the cost of assisted living in most states. Medicaid waivers enable states to provide benefits and coverage that are not covered by federal guidelines. For example, coverage for long-term senior care. The Home and Community Based Services Medicaid waiver program gives seniors more control over their care and helps to prevent them from being moved to skilled nursing homes. You will need to verify your state’s Medicaid eligibility guidelines and coverage for HCBS waivers.
The Department of Veterans Affairs has several financial assistance programs available for veterans over the age of 50, including the Aid and Attendance. A&A involves paying eligible veterans every month in addition to their VA pension. It helps to cover their long-term care services such as assisted living.
A&A is only available to veterans who are eligible for and have received a VA pension or have served during a war. A veteran must meet several eligibility requirements, including the need for assistance with daily living tasks. A&A is an option for many veterans or their spouse who are in need of assisted living. Veterans must be examined by a doctor to receive this benefit and then complete the VA form.
Life Insurance Settlements
Although not their original purpose, life insurance policies may be used to assist seniors in paying for long-term care such as assisted living. Sometimes, the policy can be purchased by a third party company for 50-75% of its initial value. In what is called an “accelerated death benefit“, some insurance companies allow policyholders to get their benefits early. As with the previous option above, accelerated death benefits almost never equal the value of the initial death benefit. However, it is worthwhile to have liquid cash available to you during your lifetime.
No matter what route you take to obtain a settlement for life insurance, losing your policy’s death benefit can be a difficult decision. Before you make a decision, weigh the pros and disadvantages of accessing your benefit and consult trusted resources.
Reverse mortgage loans can be used by seniors to pay for assisted living costs. Homeowners can convert some equity in their home into cash or take out a loan against their home’s value with reverse mortgages. This payment is usually tax-free, and seniors can move into a residential care facility like Reflections Assisted Living at Carolina Forest without having to sell their home in order to receive the money.
Reverse mortgages have limitations and may not be the best choice for everyone. Reverse mortgages can “use-up” equity in a home, which leaves less assets for the homeowner’s spouse and heirs. Be aware of scam companies and untrustworthy loaners. It is best to use the federally insured Home Equity Conversion Mortgage loan (HECM). HECM loans are backed by the federal Government and typically offer larger advances with a lower total price than loans from private firms.
Insurance for long-term care
LTC insurance, a private type of insurance policy that covers senior care and personal and custodial services, is called long-term care insurance. This insurance policy is more likely to cover the expenses for assisted living compared to Medicaid or private health insurance plans. However, seniors are not usually able to sign up to an LTC insurance policy. This type of insurance is only available to people who have signed up earlier in their lives.
LTC insurance policies can be very different in what they cover. You should review the policy details to see if assisted living is included and, if so, how much per day or year.