Parento’s Post

What Is Adult Day Care?: Do you have a parent or grandparent who is struggling with the physical and/or mental deterioration that comes along with the aging process but who does not warrant the around-the-clock care offered by a nursing home? If so, adult day care may be the solution. To help you better understand your options, the Indianapolis attorneys at Frank & Kraft explain the different types of adult day care.Adult Day Care ExplainedSenior centers have been around for decades, offering older adults a place to gather and socialize; however, senior centers are only beneficial for relatively healthy, mobile, seniors. For older adults who [Read more...] The post What Is Adult Day Care? appeared first on Frank & Kraft, Attorneys at Law.

Q: My parents are getting older – how can I coordinate care and support for them? A: Creating a "care team" for your elderly parents is a smart move. Here's a list of suggested professionals to use for helping to support your parents. 1. Healthcare advocates 2. Medical specialists 3. Elder law attorneys 4. Transportation experts 5. Senior move managers 6. Care managers 7. Aging in place experts 8. Professional fiduciaries 9. Veterans services officers 10. Financial professionals You may never need these services. But understanding your options and having a contingency plan for "just in case" ensures you and your loved ones will be well taken care of at a time when you and they may need it the most. For further detailed information on these care supporters, please read this great article by Raymond James. https://lnkd.in/e-ytD35G

Read our newest legislative update blog, which touches on recent #paidfamilyleave legislation in HI, VA, and RI. These states recently proposed legislation to create or expand a paid family leave program. Read more here 👉 [link] https://bit.ly/3UZXNaQ

Excellent article about eldercare, its costs and how to pay for it. For more personalized information I can discuss the options that fit your situation #longtermcare #eldercare #payingforcare

Elder Law is an aspect of estate planning that focuses on helping families make sure that their aging and ill loved ones get the health care they need in an affordable way. Many seniors are surprised to learn that skilled nursing facilities are not covered by Medicare. Because health care costs have risen much faster than most people’s investments have grown, social security income and retirement savings alone are often insufficient to pay for the cost of a nursing home – especially if one spouse is healthy enough to stay at home and your resources must still be available to cover their living expenses too. In these instances, Medicaid is often the best recourse for ensuring access to affordable long-term care. Medicaid is government assistance with health care costs for some people with limited income or resources. Even if you have paid taxes for decades, you only qualify for Medicaid if you meet the government’s narrow definition of “poor.” However, it is a common misconception that you must deplete almost all your assets before you can apply for this assistance. With foresight, that tragic reality can be avoided. There are asset protection strategies that can give you and your spouse options to receive the quality of care you deserve. The sooner you plan for long-term care the more options you have. Most planning strategies include asset reallocation that enable your family to retain the assets you earned over your lifetime. However, when determining if you qualify for the program, Medicaid looks back at any gifts you have made within the past five years. Your goal should be to build a long-term care plan at least five years before you need it. For more information on protecting your aging loved ones, call Littleton Legal at (918) 608-1836. #estateplanning #elderlaw #medicaid #medicare #agewithdignity #longtermcareplanning #brokenarrowattorney #tulsaattorney #littletonlegal

For those of you interested in policy, here are some really interesting legislative trends from our friends at Prenatal-to-3 Policy Impact Center They mention specifically to keep an eye on H.B. 1725 in Mississippi (bipartisan Medicare expansion bill which passed the House) and H.B. 152 (gambling revenue flagged for health care coverage for low-income adults which passed the House). I would add to that list Tennessee's H.B. 2317 (requiring the state to perform a TACIR study to identify laws, regulations, and rules affecting the start-up, operation and expansion of child care which passed the House unanimously) and H.B. 0785 Promising Futures (gambling revenue flagged for child care scholarships). https://lnkd.in/eF6v4XaJ

🌐 Most Americans find the US eldercare system unaffordable. With two-thirds of Americans needing long-term care as they age, the costs, whether for in-home services or nursing homes, can surpass the average American's annual income, highlighting the urgency for informed planning and support. 🔍 The most recent Genworth survey underscores the wide variation in costs across states, emphasizing the importance of location. For instance, a year in a nursing home can range from $73,000 in Oklahoma to a staggering $182,000 in Connecticut, urging individuals to comprehend the intricacies of care options. Assisted Living, Home Care and Senior Day Programs also vary widely from state to state. #Eldercare #LongTermCare #HealthcareCosts #ElderlyHealth #PlanningAhead https://lnkd.in/gvZnXnWp (subscription required)

Elder Law is an aspect of estate planning that focuses on helping families make sure that their aging and ill loved ones get the health care they need in an affordable way. Many seniors are surprised to learn that skilled nursing facilities are not covered by Medicare. Because health care costs have risen much faster than most people’s investments have grown, social security income and retirement savings alone are often insufficient to pay for the cost of a nursing home – especially if one spouse is healthy enough to stay at home and your resources must still be available to cover their living expenses too. In these instances, Medicaid is often the best recourse for ensuring access to affordable long-term care. Medicaid is government assistance with health care costs for some people with limited income or resources. Even if you have paid taxes for decades, you only qualify for Medicaid if you meet the government’s narrow definition of “poor.” However, it is a common misconception that you must deplete almost all your assets before you can apply for this assistance. With foresight, that tragic reality can be avoided. There are asset protection strategies that can give you and your spouse options to receive the quality of care you deserve. The sooner you plan for long-term care the more options you have. Most planning strategies include asset reallocation that enable your family to retain the assets you earned over your lifetime. However, when determining if you qualify for the program, Medicaid looks back at any gifts you have made within the past five years. Your goal should be to build a long-term care plan at least five years before you need it. For more information on protecting your aging loved ones, call me today at (918) 608-1836. #elderlaw #medicaid #medicare #agewithdignity #littletonlegal

With long term care and in-home care costs rising at nearly 4 times the rate of inflation, what can you do to protect your assets and your family? This article is almost spot-on* with the facts of care and care prices. It is also a VERY rude awakening if you live in PA. The best plan is to get over the fear of long term care insurance premiums and enroll in it while younger & healthy enough to qualify. Every long term care insurance policy is underwritten, meaning you have to be healthy enough to qualify. For example, a healthy 65 year old male non-smoker can expect to pay about $3000 to 3600 per year for LTCi. Whereas, that same man would expect to pay well over $100,000 per year for long term care. That's a great return on investment. Let's shift our focus from the cost of long term care insurance (LTCi) to the wisdom of investing in our financial future and that of our families. Yes? Please don't count on medicaid (the government!) to pay for care when you can insure against the high costs of care and protect your ability to choose the right care at the time it is needed. *Medicare does not pay for long term care, not even for 100 days. Medicare pays for up to 100 days of medically necessary rehab (like after an accident or a surgery) and only after a 3 day inpatient hospital stay; but, the co-pay after day 20 is about $200 per day. FYI -- don't be fooled. #longtermcare #longtermcareinsurance #aginginplace #medicaldebtreductionprogram #rondacobbthemoneycoach Dan Tripp CLU

Did you know October is Long-Term Care Planning Month? If you or a loved one are considering making a move to a senior living community in the future, now is a great time to consider the financial aspects, including several financial resources you might be able to take advantage of. #financialplanning #seniorliving #assistedliving #alzheimers #dementia