The following is an estimate of the costs of the varying types of senior care for your aging parents: Telephone Calls – Telephone home call "care" can cost approximately 40 per month, for safety checks, medication management, etc. Home Care – Depending if you hire an agency, approximate costs $20 per hour, $7,500 for 24/7 care; or a private individual approximately $10 per hour, although you have to pay taxes, insurance on top. Respite Care – Otherwise, known as Hospice, can be paid by Medicare. Visiting Nurses – If treatment prescribed by physician, may be covered by Medicare or Medicaid….
My goal is to dispel the Medicaid Myths: 1. Myth: “Medicare will cover my nursing home bill." The Truth: Medicare only covers a small amount of the nursing home care provided in this country. Many older people are surprised to learn this. Medicare provides 20 days of full coverage if you spent at least three days in the hospital and need skilled care (not intermediate level care). Then, if you still need skilled care, you can get up to 80 days of partial coverage from Medicare, the co-pay will usually be picked up by your supplemental insurance. After that, you…
As we age, our needs and demands change. Senior Life Care Planning’s goal is to educate and assist you in achieving quality of life and peace of mind. Before the care journey becomes overwhelming, it's important to have trusted professionals guiding you on your path. Our philosophy is to provide a dedicated service and attention to our clients to make the aging process empowering and rewarding. We are often asked: How can I protect my assets to take care of my spouse, or to leave them to my children? Do I have to spend all of my money on the nursing…
The Office of the Inspector General also maintains a hotline, which offers a confidential means for reporting vital information. The Hotline can be contacted by phone: 1-800-447-8477; or by email: HHSTips@oig.hhs.gov.
Let me also refer you to Seven Tips for Baby Boomers Turning 65 in 2011, a recent article from US News & World Report.1. Sign up for Medicare on time. There is a seven month window surrounding your 65th birthday during which you can sign up for Medicare, and this starts three months prior to the big day. For every 12 month period during which you haven’t signed up for Medicare Part B, your premiums may go up by 10%. If you are on an employer plan, you’ll have to sign up within eight months of leaving that plan to…
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