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Medicare Changes for 2024 That You Need To Know

WebThe income qualifications for the Extra Help program have changed slightly. In 2023, to qualify for the Extra Help program, your income had to be at 135% of the …

Actived: 9 days ago

URL: https://www.elderlifefinancial.com/resources/medicare-changes-you-need-to-know/

What Is a State Health Insurance Assistance Program

WebState Health Insurance Assistance Programs (SHIPs) help people understand Medicare, Medicaid, and state and federal assistance programs for seniors. These …

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Tax-Deductible Medical Expenses You May Not Know

WebYes, some dental care costs can be considered tax-deductible expenses. These items are categorized under medical expenses for tax purposes. Seniors are …

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Short-Term vs. Long-Term Care Insurance

WebThe benefit amounts also vary between short-term and long-term care insurance. Short-term care insurance benefits are often capped at a specific daily or …

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How To Pay for Nursing Home Care

WebThe amount the policyholder can use for nursing home care is typically capped at a percentage of the policy’s face value. • Life settlements: Life settlement …

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Is a Long-Term Care Annuity Right for You

WebThe majority of people aged 65 and over will need long-term care at some point. And while the average price of long-term care varies depending on your location …

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6 Reasons To Have Long-Term Care Insurance

WebOne of the primary advantages of long-term care insurance is the financial security it provides the covered individual and their family. The costs of long-term care …

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Veterans Home Care Programs

WebThrough VA’s home-based primary care, Veterans receive health care at their home. This program is helpful for a person with medical needs that make traveling a …

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The Cost of Senior Care in California

WebThe level of care a person requires will impact the cost of assisted living, but where you live also matters. The monthly cost varies by as much as $3,598 a month, …

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What Are Personal Care Services

WebPersonal care services assist an older adult with activities of daily living or instrumental activities of daily living. Activities of daily living (ADLs) are fundamental …

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Long-Term Care Annuities vs. Long-Term Care Insurance

WebLong-term care insurance and long-term care annuities differ in a few key ways. One of the most prominent differences is how they are paid to the policyholder. A …

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Help at Home for Veterans: The Homemaker and Health Aide …

WebThe homemaker and home health aide care program helps Veterans who need help performing daily life tasks. VA works with approved home care agencies and …

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The Cost of Senior Care in Ohio

WebThe cost of nursing homes in Ohio is nearly 70% greater than that of assisted living facilities. The average cost for a semi-private room is $7,300 per month, and a …

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In-Home Care Options: Personal Care vs. Homemaker Services

WebIn-home care is assistance brought into the home that supports older adults who want to age in place. There are two types of home care agencies: medical ( home …

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Tax Deductions and Credits for Seniors

WebCredit for the elderly or disabled. There is a tax credit for people over 65 and those under 65 with a permanent disability. Depending on filing status and income, it …

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Caregiver Expenses Can Be Tax Deductible

WebCaregivers of seniors can deduct several itemized expenses related to caregiving. Eligible deductible expenses include: •Assisted living and nursing home …

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8 Legal Documents That Get Your Affairs in Order

WebA financial power of attorney is a legal document that appoints an agent to manage a person’s financial and property affairs if they can no longer do so. A financial …

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