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Posts Tagged ‘nursing homes’

Who Should Worry About The Cost Of Long Term Care?

Thursday, July 22nd, 2010

Should you be concerned about the cost of long term care? If you have ever had a close family member in a nursing home, you know how expensive it can be. Likewise, if you have read up on the current predictions, you probably know that most of us have a good chance of needing some for of nursing care in the future. It is an expensive thing we all may need, so we probably should do some planning!

Long term care insurance (LTCi) is becoming more popular. People can buy it from private companies or get group coveage from their jobs. It covers different types of nursing care that people may need. Plans and prices vary, so you will have to look around to see if one is right for you.

Some are set up so the premiums can be deducted from federal taxes, and these are called tax qualified plans. Others are called non-tax qualified plans. They cannot be deducted.

If you live in the USA, heath reform may soon provide a federal plan too. This is an option for many workers, but it may only provide about fifty dollars a day for care. If you know h ow much nursing care costs, you will know that fifty dollars a day will probably not cover the costs. In fact, it may only cover half or a third of the price. So this plan may help in the future, but it stil will not totally eliminate concerns.

You may be hoping to rely on existing federal plans for nursing care. You should understand that Medicare only pays for fairly short term nursing care needs. You should also understand that Medicaid only kicks in if the covered person uses up most of their money. These progams do not relieve most people that much.

Many peope look into alternatives to insurance policies or they just do not do anything. There is not one correct solution for every family or individual. Hopefully, you will do some research to find a comfortable choice for yourself.

Have you read the latest news on health reform and long term care? Learn more, so you can have the facts to determine if you need long term care insurance.

The Veterans Association Aid and Attendance Program

Sunday, July 5th, 2009

Aid and Attendance is a frequently used phrase used to describe a benefit that might be available to a veteran as part of the VA’s disability pension, or to the surviving spouse of a Veteran as part of the VA’s death pension - as long as the veterans served at least 90 days of active duty and at least one of those days was served during war time.

As part of the Veterans Administration’s Pension program, the VA offers additional income for veterans and their surviving spouses who are eligible for the VA’s base pension, but who also either demonstrate a regular need for the aid and attendance of a caregiver or are what the VA refers to as housebound.

The Pension benefit is a monthly income for disabled or older veterans who have a low income. Pension is for veterans who served during a period of war and who may have disabilities that are not connected to their active-duty service. Unlike Compensation, Pension is based on the veteran’s financial picture including household income, as well as assets. When determining eligibility, the claimant’s income can be adjusted for un-reimbursed medical expenses. If the veteran’s net income after un-reimbursed medical expenses exceeds the Pension amount, then there is no award.

For 2009 the maximum annual benefit for those qualifying for the Aid & Attendance level of pension is:

Surviving Spouse of a Veteran: $12,681

Veteran with no Spouse or dependent children: $19,736

A married Veteran where the Veteran requires care: $23,396

If the Veteran is healthy, but their Spouse requires care, then the Veteran qualifies for a regular pension only: $15,493

From here, a veteran and/or their spouse is able to receive assistance with everyday tasks and it will be paid for. These tasks include simple things such as bathing, taking care of nature when it calls, assistance with food and eating, assistance with getting dressed and undressed, and any other activities that need to be taken care of. Nursing home care is also paid for when the veteran and/or surviving spouse is mentally or physically incapacitated.

The VA Aid and Attendance benefit program is an amazing program that, unfortuneately, isn’t as well known as it should be. The fact that it gives veterans the hope of a dignified existence that otherwise wouldn’t be available is reason enough to make sure all veterans are aware that it exists. Qualifying for the benefit isn’t hard, and with the help of qualified professionals, it can be a painless and simple process.

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Aid and Attendance Benefit Information

Friday, July 3rd, 2009

Aid and Attendance is a frequently used phrase used to describe a benefit that might be available to a veteran as part of the VA’s disability pension, or to the surviving spouse of a Veteran as part of the VA’s death pension - as long as the veterans served at least 90 days of active duty and at least one of those days was served during war time.

“Aid and Attendance” refers to the fact that for this particular pension benefit, the claimant must demonstrate a regular need for the aid and attendance of a caregiver or the need to live in a protected environment because of physical or mental impairment. If the veteran does not require aid and attendance, but has a low household income, they may be eligible for a base pension of a lesser dollar amount.

You already know that you have to be a war-time veteran who served at least 90 days with one of those days being during a war. So if youre a war-time veteran, the requirements are not extremely strict in that area. The rest comes in the way of verifying that you have a medical condition that requires you to have help within the home. You also have to prove that your income is low enough by providing information on all of your income sources.

For 2009 the maximum annual benefit for those qualifying for the Aid & Attendance level of pension is:

Surviving Spouse of a Veteran: $12,681

Veteran with no Spouse or dependent children: $19,736

A married Veteran where the Veteran requires care: $23,396

If the Veteran is healthy, but their Spouse requires care, then the Veteran qualifies for a regular pension only: $15,493

The ultimate purpose of the Aid & Attendance pension benefit is to provide veterans or their surviving spouses with additional resources so that they can afford care in their time of need.

The VA Aid and Attendance benefit program is an amazing program that, unfortuneately, isn’t as well known as it should be. The fact that it gives veterans the hope of a dignified existence that otherwise wouldn’t be available is reason enough to make sure all veterans are aware that it exists. Qualifying for the benefit isn’t hard, and with the help of qualified professionals, it can be a painless and simple process.

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