Medicare defines skilled care as “nursing and therapy care that can only be safely and effectively performed by, or under the supervision of, professionals or technical personnel.” Skilled nursing services are available in a hospital, of course, or in a designated skilled nursing facility (SNF). Because this is an advanced and often complex level of care, it can be quite expensive. So will Medicare or Medicaid help cover the cost?.
The vast majority of Americans over 50 say they want to age in place – remaining in their home and familiar surroundings. That’s understandable, but it’s not easy when aging also brings increasing physical limitations and health concerns. The growing in-home care industry is designed to give seniors the help they need to age in place, but home health care also has limitations.
Should you choose a senior living community instead, despite the fact you’ll have to move? It’s important to understand how the two options differ, whether you’re deciding on the best course of action for yourself or for your Mom or Dad.
Staying in your home may give the impression of independence, but a senior living community can actually help you remain more independent, longer.
The bears have it – for now, anyway. Any time the stock market becomes unusually volatile or takes a definite downturn, investors wonder if they should take action or just wait it out. This question affects seniors, especially, because the older you get the less opportunity you have to take a long-term approach to investments.
You may need that money soon to help pay for your retirement. Meanwhile, high inflation and talk of a possible recession also affect financial planning as well as daily living.
Here are some tips to weather this bear market.
Can you work and receive Social Security retirement benefits at the same time? Yes. Should you? Well, that depends. It’s important to understand that the issue isn’t only whether working will affect your benefit, but when you start receiving your benefits.
Retirement Benefits: There’s a Carrot, and There’s a Stick
If you still think of 65 as “retirement age,” think again. Due to very real concerns about future funding for the program and the fact that lots of Baby Boomers are retiring now, the SSA wants you to wait longer to start drawing benefits.
How to pay for senior living is a topic that every aging adult (and sometimes their adult children) grapples with sooner or later. Whether you have more than comfortable assets to draw from or your finances are very limited, the cost of continuing care can be weighty indeed. But that doesn’t mean you must divest yourself of key assets such as a home you own before you can make a move.
It is unthinkable that any senior (or anyone) should go hungry because they cannot afford nutritious food. That’s why the SNAP program exists. Sadly, the National Council on Aging (NCOA) reports that 60% of seniors who qualify for SNAP benefits are going without simply because they haven’t applied. They believe one reason is a persistent myth that says seniors receive just $16 per month. This is far from the truth.
Almost every adult looks forward to retirement with great anticipation. Finally, a chance to spend your days as you want. But where will that be? You could stay where you are. However, for many empty-nesters with distant children and grandkids, this is your chance to move closer. Or maybe you simply want a change of scenery, or pace.
Here at Magnolia Manor, we know a few things about retirement, and we’re well-rooted in the state of Georgia, too. So when we say this is a great place to retire, you can believe us. The benefits of retiring in Georgia are many, whether you will be new to the state or you already live here.
No one wants to think that someday they might have to leave their home and move into assisted living or another type of long-term senior care community. Nonetheless, almost 70% of those over 65 will eventually need some kind of long term care. You may not have to move, though, at least not so soon. Instead, you may be able to age in place.
It’s easy to understand why young adults purchase life insurance. It provides financial support for families if a wage-earner dies young from disease or an accident. Many types of life insurance also serve as broader financial management tools. And life insurance is inexpensive when you’re young. But what if the years have sped by and you still don’t have life insurance, or you think you might need more – is it too late?
Medicare and Medicaid are both government programs that provide certain types of health care coverage for seniors. Although the programs are very different, they are often confused. And Medicaid, especially, is often misunderstood. So let’s clear up some of the confusion, to help you know if Medicaid may be a viable financial resource for you some day.