Veterans Administration

There are many benefits and programs that are available to seniors who have served the country through participation in the military. Some of these options include veteran’s respite care, veteran’s directed home and community based services, the aid and attendance benefit, and TRICARE. Seniors who have already been collecting military benefits but need additional help may want to consider some of the options available to them by the use of the Veteran’s Administration.

Medicaid

Most states have their own eligibility rules and requirements for this program, but many of them are able to help seniors who need further help in paying for their care treatments and coverage. Seniors can check with the state’s Medicaid office in order to get more information about what programs are available in their area and how they may be able to help pay for some of their medical needs.

Medicare

Generally speaking, Medicare does not cover the expenses associated with assisted living care. However, it does cover the cost of 20 days within a nursing home and will pay around 80 percent of the costs if the senior stays for the next 80 days after that. There are also some benefits that can be used to cover some costs of home health care, assuming that the senior is able to meet the requirements of the program. Seniors can get in contact with the state’s Medicare office for more information about what the program does and does not cover.

Social Security

Seniors who are receiving social security benefits can generally use their funds to help pay for their residential care, home care, adult day care services, and other various aspects of their health care. However, it’s important to understand that the amount of the general benefits that are received monthly will not cover the complete cost of care itself.

Other Types Of Insurance

There are numerous types of insurance that are available for seniors, such as PACE Medicare programs, Medigap policies, life settlements, life care assurance benefit plans, and many other options. Seniors that are responsible for their own care and are able to maintain all of the information on their own can contact their insurance provider about more information on these options, otherwise a family member or loved one can also make contact in order to attain more information.

LifeBridge Benefits Plans

Seniors that already have life insurance policies may be able to use this private option instead. The plan provides policy owners with the option to convert their life insurance policy into a long term care benefit plan instead. The senior would not be responsible for the premium payment anymore and the company would pay a monthly fee to the provider – which can either be the full amount or a smaller amount in order to make it easier for seniors to deal with other payments.

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