Alzheimer’s Disease and Veteran’s Benefits

Most people facing Alzheimer’s have never heard about a Veteran’s Benefit called a Special Monthly or Improved Pension. You may have heard the name “Aid and Attendance” tossed around, and it has sort of become this “mysterious” thing that people have heard exist but no one has any idea how to obtain the benefit.

Aid and Attendance is really a misnomer.  The real program is a Special Monthly Pension (also called Improved Pension). Part of that program includes a higher level benefit for Veteran’s needing “Regular Aid and Attendance.”  Now, it’s important not to confuse this VA Pension with a VA Disability Pension where the Veteran has been rated disabled due to an injury that occured during a wartime period.

Instead, this is a program that provides for long-term care costs for a Veteran who was not injured during war but is now disabled. This is a really great program for Alzheimer’s.  Many families living with Alzheimer’s want to keep their loved one at home for as long as possible.  Or, they want to move their mom or dad into a good assisted living facility.  Home health care and assisted living can cost tremendous amounts of money.  But, if you qualify for this VA benefit, it can provide up to about $1,800 per month for a married couple, about $1,500 per month for a single Veteran and nearly $1,000  per month for the widow or widower of a wartime Veteran.

This can go a long way to keeping your loved one with Alzheimer’s at home longer or at a quality assisted living facility.

For more information on Paying For Alzheimer’s Care and to get my FREE ebook now, head on over to http://www.PayingForAlzheimersCare.com

Alzheimer’s, Medicaid and Resources

When a family member has Alzheimer’s, it’s often neccesary to seek the assistance of Medicaid.  Medicaid will want to know all resources (assets) available to the person applying. However, this does not mean that they will count all resources.  Generally, there are countable and non-countable resources. When I say non-countable, this means that although they must be disclosed, Medicaid will not take them into consideration when determining whether your loved one qualifies.  The following is a list of assets that in most states are considered non-countable:

• A home, if the applicant has an intent to return home (generally up to $500,000 in equity)
• One automobile
• Personal effects
• Life insurance with a total face value of $1,500 or less
• Property used in a trade or business

It’s important to keep in mind though that while Medicaid can’t typically count these assets to determine if your loved one with Alzheimer’s is eligible for Medicaid, the concept of Estate Recovery can be used to take these assets after a person has passed away to pay Medicaid back.

We will talk more about Estate Recovery soon.

For a FREE ebook on Paying for Alzheimer’s Care, head on over to http://www.PayingForAlzheimersCare.com today!

Alzheimer’s, Medicaid and the Problem of “Too Much Income”

There are times when someone with Alzheimer’s must go into a nursing home and must apply for Medicaid to help pay for some or all of the costs.  But, what happens when the Medicaid agency tells you your loved one with Alzheimer’s has “too much income” to qualify? Depending on your state, certain states are known as “income cap” states. This means that if your family member has over a certain amount of income, they exceed that “cap” and may not qualify for Medicaid.  But wait a second–not so fast.

In many income cap states there is a way to allow the Medicaid agency to ingore the fact that your family member with Alzheimer’s Disease has too much income. These are known as Qualified Income Trusts or “Miller Trusts.”   This is a very specific type of trust set up where a family member (a trustee) can manage an account for income received on behalf of the Alzheimer’s patient so that he or she can qualify for Medicaid-at least from an income perspective.  You would still need to determine what level of assets your loved one has. We’ll talk more about that soon.

For a FREE Ebook on Paying for Alzheimer’s Care, head on over to http://www.PayingForAlzheimersCare.com today!

Alzheimer’s and Home Health Care

For many families, home health care is the way to go to take care of their loved one with Alzheimer’s.  That is, at least for awhile.  There are some very good home health care providers, but they can be very expensive. The average cost is $16-24/hour. For the family that needs moderate levels of help, this may not be bad, but as care needs increase, and more and more hours must be spent on home health care, the Alzheimer’s family will face tremendous expenses. I recently met with someone who runs a home health service and she told me that it’s not uncommon for round the clock care to cost as much as $3,600 a week! 

We will talk more about how a little known Veteran’s Benefit can often be used to offset some of the tremendous costs of home health for your loved one with Alzheimer’s.

For great tips, tricks and techniques on helping pay for Alzheimer’s care visit:http://www.PayingForAlzheimersCare.com and get my FREE Ebook today.

Alzheimer’s Disease and Annuities

This is more of a warning than anything. For families facing Alzheimer’s-you must always be on the look out for unscrupulous financial planners and annuity sales people. Now don’t get me wrong, there are certainly reputable, good people out there who sell these products. The problem is, people with Alzheimer’s have a very high chance of needing skilled nursing care in the future.

This also means that they may very well need Medicaid to help pay for all or a portion of the nursing home costs. Medicaid has VERY strict rules (and becoming more strict everyday) about what type of annuities qualify. In general, the annuity must be actuarially sound, irrevocable, non-assignable and typically must name the state as a remainder beneficiary. Now rules vary from significantly from state to state so it’s best to do your homework. But one thing is for sure, you should be very wary about purchasing annuities without first seeking advice.

For great tips, tricks and techniques on helping to pay for Alzheimer’s care visit:http://www.PayingForAlzheimersCare.com and get my FREE Ebook today.

Boston Legal and Alzheimer’s Disease

As a fan of the show, I thought I’d share this. Be sure to watch and pass this on.
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Denny Crane has Alzheimer’s Disease

Please tune in to the Boston Legal series finale Monday night on ABC, 9:00 Eastern/Pacific, 8:00 Central. The double-episode will feature Denny Crane’s struggle with Alzheimer’s Disease in the workplace, and his plans for dealing with the disease. Please forward this to friends and family.

See the new page and become a fan, and send to your friends:
http://www.facebook.com/pages/Denny-Crane-has-Alzheimers/38194095911

Medicare and Alzheimer’s Disease

Did you know that Medicare does not cover most of what a person with Alzheimer’s needs? Many people confuse Medicare and Medicaid.  I like to look at it this way: Medicare only cares  if you are “lucky” enough to have the right disease! I know –it sounds absurd. But it’s true. If your family member had a stroke and needed rehabilitation in a skilled nursing facility following a hospital stay-Medicare  probably cares about her and will pay-at least for awhile. If on the other hand your loved one has Alzheimer’s and needs that same skilled nursing stay-Medicare no longer cares.  In that case other methods of paying must be explored.

For great tips, tricks and techniques on helping to pay for Alzheimer’s care visit: http://www.PayingForAlzheimersCare.com and get my FREE Ebook today.

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Alzheimer’s and Medicaid: How Alzheimer’s Families Deal With the Challenges of New Laws

I’m still dumbfounded that Congress determined it was necessary to
change Medicaid Planning techniques that were available to the
the family facing Alzheimer’s.  But, not all is lost. There are still many ways your loved
one can qualify.

What is Medicaid you ask? Well, it’s complicated.

This is a federal and state funded and state administered medical
benefit program which can pay for the cost of the nursing home if
certain asset and income tests are met.

There are basically four ways to pay for nursing home care:

1. Private Pay. This is the method many people with Alzheimer’s are required to use
at first. Quite simply, it means paying for the cost of a nursing
home out of your own pocket. Unfortunately, with nursing home bills
averaging between $4,000 and $4,500 per month in our area, few
people can afford a long term stay in a nursing home.

2. Long Term Care Insurance. If you are fortunate enough to have
this type of coverage, it may go a long way toward paying the cost
of the nursing home. Unfortunately, long term care insurance has
only started to become popular in the last few years and most
people facing a nursing home stay do not have this coverage

The first two methods of private pay (i.e. using your own funds)
and long term care insurance are self-explanatory, our discussion
will concentrate on Medicare and Medicaid.

3. Medicare – This is the national health insurance program
primarily for people 65 years of age and older, certain younger
disabled people, and people with kidney failure. Medicare provides
short term assistance with nursing home costs, but only if you meet
the strict qualification rules.

4. Medicaid – This is a federal and state funded and state
administered medical benefit program which can pay for the cost of
the nursing home if certain asset and income tests are met. Since
the first two methods of private pay (i.e. using your own funds)
and long term care insurance are self-explanatory, our discussion
will concentrate on Medicare and Medicaid.

Medicaid has traditionally been the way many people paid for long
term stays in skilled nursing facilities. For instance, if a loved
on is facing a nursing home stay due to an illness such as
Alzheimer’s, Medicaid may pay for these costs. But the rules are
much tougher now than they have ever been, due to changes in the
law that occurred in 2006 under the Deficit Reduction Act (DRA)

The main thing to note is that there are many ways to still qualify
for Medicaid paid nursing home care, and many planning techniques
that may still be avaialbe, even under these tough new laws. But
you need a qualified Elder Law Attorney to help you navigate
through the ever rising riptides…

But there may be a better way. I’ll be talking more about Veterans
Benefits Planning soon.

For great tips, tricks and techniques on helping pay for Alzheimer’s care visit: http://www.PayingForAlzheimersCare.com and get my FREE Ebook today.

Brian explains how families can pay for the extraordinarily high cost of Alzheimer’s care

 

Here is the video:

For great tips, tricks and techniques on helping pay for Alzheimer’s care visit: http://www.PayingForAlzheimersCare.com and get my FREE Ebook today.

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