Care Cost Assessment

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Once it is determined the type and amount of care that is needed we won't leave you stranded to figure out how to pay for the costs.  Our knowledgeable professionals as part of our service will help show you all of the different options to help pay for these considerable expenses and work with you to find the best options.  

According to the Genworth Cost of Care Report 2016 the median cost of Home Care is $46,000 a year and the median cost of Assisted Living is $46,000 a year. 

Here are a few funding options that our professionals can help you choose which may be right for you:

Medicaid covers a large share of long term care services but to qualify your income must be below a certain level and you must meet minimum state eligibility requirements and be in a Medicaid-approved facility.  

VA Aid and Attendance - Veterans and survivors who are eligible for a VA pension and require the aid and attendance of another person, or are housebound, may be eligible for an additional monetary payment. These benefits are paid in addition to monthly pension if you are qualified.

A Reverse Mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that you built up over years of making mortgage payments can be paid to you.  However, unlike a traditional home equity loan or second mortgage, HECM borrowers do not have to repay the HECM loan until the borrowers no longer use the home as their principal residence or fail to meet the obligations of the mortgage. 

Life Insurance Settlements -If eligible, the owner of a life insurance policy can use it to pay for any type of senior care they choose. A life settlement is the sale by the owner of a life insurance policy to a third party for an amount greater than its cash surrender value and less than the death benefit. The seller of the policy receives a cash payment.

Long Term Care Insurance policies will usually give you the option of paying for in home care or going to a community. Our advisors will help you to understand your policy and options as well as help you to qualify for the benefits.