Medicaid and Medicare are two distinct programs that can help seniors pay for healthcare expenses. Knowing the differences between the two can help you pay for out-of-pocket medical expenses. Simply put, Medicaid is a public assistance program based largely on financial need and paid for with tax dollars. Medicare is a health insurance policy specifically…
Nearly 70% of adults over the age of 65 will require some kind of long-term care services in their lifetime. Long-term care costs can be exceedingly expensive. In fact, a 2017 Genworth study found that the national median of an assisted living community in 2017 was $3,750 per month. The national median cost of a…
Every year, when tax season rolls around, everyone is looking to maximize their deductions, save money, and either increase their return or reduce their tax payment. Some senior living expenses, including medical expenses and assisted living expenses are tax-deductible – within certain parameters. It’s important to note that each financial situation is unique and personal…
When it comes to senior care, financial considerations are important and weigh heavily on the minds of seniors and family members seeking care. While every person’s financial situation is unique and personal, we can do a general cost comparison to determine if in-home care or senior living is more affordable. The results may surprise you….
You know the signs to look for, you have the support of your family, it’s time to commit to a move. It’s time to talk numbers—and we’re here to help. Finances may at first appear to be a stumbling block in your move. While the cost of care can vary greatly depending on location, type…
