Finding the Resources You Need!
There are many options when it comes to covering the cost of Senior Care. They come from various government, private, and non-profit sources. We have put together a list of those sources; what & how much they cover, and how you qualify for them.
Government Sources
Medicare
A federally funded health insurance program for eligible people 65 and older and some disabled individuals. Part A covers hospital costs. Part B covers doctor bills and other medical costs.
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Medicaid
A federally and state funded health insurance program for eligible low income people; pays for all or part of the cost of certain medical services & long-term care.
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Veteran's Care Assistance
A program sponsored by the Veteran's Administration that provides assistance with the cost of care for Veteran's and/or their surviving spouse.
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Other Government Programs
In addition to the programs above there are many other State and Local Government sponsored programs.
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Private Sources
Private Pay
Covering the cost of care using personal or family assets and funds.
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Medicare Supplements (Medigap)
A private insurance policy that is designed to cover some or all of the costs of care that are not covered by Medicare.
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Health Insurance
A policy that covers some or all of the cost of the treatment & rehabilitation of an acute illness or injury. Generally does not cover the cost of long-term care.
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Long-Term Care Insurance
An insurance policy that covers long-term care expenses at home or in a facility (other than an acute care unit of a hospital). Neither Medicare nor Medicare supplemental insurance cover these expenses.
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Reverse Mortgage
A reverse mortgage is a home loan available to seniors aged 62 years or older. It uses accumulated equity in the home to create a source of income, allowing the senior to improve their quality of life.
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Life Settlements
A payment in excess of cash value to a Life Insurance Policy holder for assignment of ownership in a Life Insurance Policy.
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Non-Profit Sources
Grants
There are many non-profit grants availble to help offset the cost of care for yourself or a loved one.