Month: January 2017

AID & ATTENDANCE PROGRAM – A BENEFIT FOR SENIORS

Eligible veterans and their surviving spouses who require the aid and attendance of another person, or are housebound may be entitled to additional monetary benefits.

Any one of the following must be met:

  • You require the aid of another person to assist you in bathing, feeding, dressing, and attending to the wants of nature
  • You are bedridden due to disabilities
  • You live in a nursing home due to a cognitive or physical condition
  • Your eyesight is limited

Most often a veteran must have at least 90 days of active service, with at least one day during a wartime period to qualify or for their surviving spouse to qualify.

Maximum Annual Pension Rate can be as high as $34,050.

BUYING TIPS WHEN SHOPPING FOR LONG-TERM CARE INSURANCE

Before buying a long-term care insurance policy ask the following.

  1. Not all policies are the same. Contact several insurance companies and compare the benefits.  For instance what’s covered and what’s not covered, limitations of the coverage, and the premium cost.
  2. Carefully read the policy to make sure you know what you are purchasing and you’re clear as to what the policy covers and does not.
  3. Review the application for correctness. You don’t want to be denied coverage due to an incomplete or inaccurate application.
  4. Is the insurance company financially stable?  Obtain its rating by the rating agencies.
  5. Obtain the company premium increase history and what the premium is today and for the future.
  6. Be careful of advertisements. Don’t be mislead.

HOW TO HELP AN OLDER ADULT WITH THEIR FINANCES

As older adults, age, sickness to their physical condition and their mental state of mind make it difficult for them to handle their financial issues.   Overwhelmed by their finances they often feel confused and lost.  Children, friends, and relatives will often offer their advice and support.  Here are a few important facts you should be aware of before providing assistance.

  1. Be transparent and open will all who are involved including the older adult, siblings, and financial advisors.
  2. Organize all records. This may involve tracking down assets, finding lost documents, securities, financial statements, insurance policies, power of attorney, health care directives.
  3. Be alert to fraud and exploitation. It is not uncommon for older adults to be taking advantage of by relatives, friends, caregivers, and others.

Be careful undertaking more than you can handle.  Often the task is too difficult for even a child, relative, or friend with the best intentions.  Know when you need to step back and seek

Benefits of Home Care Agency VS Direct Hire

Benefits of Home Care Agency VS Direct Hire

Know the benefits of both and make a better decision.

Home Care agency…

  • Must conduct a criminal background of hires before they are placed in someone’s home.
  • Must have insurance policies to protect their clients.
  • Replacements are readily available to continue service without interruption.
  • Home care agencies have the experience and knowledge to make sure their employees are qualified for the work that is required.

Direct Hire…

  • The cost is often less.
  • You take on the responsibility of being the employer including paying payroll taxes and workers compensation.

If the worker is hurt on the job you may be responsible both legally and financially.