Willing to pay for a consultation for elder care financial information - but unsure who to target

[Anonymous]

Fairfax County, VA, if that helps.

Short background is that my in-laws (74M, 69F) are living on SS and a small pension. They are renting and have no assets other than a paid-off car (no retirement accounts, no savings, minor credit card debt). We know that at some point they will not be able to care for themselves.

What I'd like to do is pay for a one-time consultation for an expert to come in and inform all of us of the various options for what happens when the inevitable health concerns begin to mount. I don't know if a full-on financial planner is appropriate because, frankly, there is nothing for them to plan. So I guess I'm thinking of some sort of hybrid planner who knows a lot about Medicare and any other social safety nets that are out there (federal/state/county).

Can anyone point me in the right direction? Thank you.

[Anonymous]

I might contact the council aging and see if they have any guidance.

[Anonymous]

They don’t have many options. Save the money. They can get long term care Medicaid for a nursing home. Some states do more, others like md do not. B

[Anonymous]

Anonymous wrote:They don’t have many options. Save the money. They can get long term care Medicaid for a nursing home. Some states do more, others like md do not. B

I do not think this is correct for MD. I think Medicaid does cover LTC once your assets are spent down to a certain level (very low)

[Anonymous]

Anonymous wrote:They don’t have many options. Save the money. They can get long term care Medicaid for a nursing home. Some states do more, others like md do not. B

I can't comment about states, but Medicaid for LTC only kicks in when assets have been spent down. If one spouse needs LTC and the other does not, then Medicaid allows the "community" spouse to retain ~140,000 (can't remember exact figure - has been 10 years) and the house.

Those are really the options for your parents. Good to see what other county services may exist to keep your parents in their home - the least expensive option out there.

Also know that Meals on Wheels is not determined by income but by mobility. If one of them is no longer able to move around, then they are eligible. But that can be a bridge too far for many who think it screams poor.

Good luck!

[Anonymous]

I’ve seen this group recommended on here. They may be able to help point you in the right direction. Their choices will be limited, but there are programs to tap into and things to know as you navigate all this. Any chance one of them is a veteran? There are some programs available if so.

https://eldercc.com/

[Anonymous]

Anonymous wrote:

Anonymous wrote:They don’t have many options. Save the money. They can get long term care Medicaid for a nursing home. Some states do more, others like md do not. B

I do not think this is correct for MD. I think Medicaid does cover LTC once your assets are spent down to a certain level (very low)

It is correct for MD as I did it for a loved one. If they don't have savings a special Medicaid program exists. Not regular Medicaid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:They don’t have many options. Save the money. They can get long term care Medicaid for a nursing home. Some states do more, others like md do not. B

I can't comment about states, but Medicaid for LTC only kicks in when assets have been spent down. If one spouse needs LTC and the other does not, then Medicaid allows the "community" spouse to retain ~140,000 (can't remember exact figure - has been 10 years) and the house.

Those are really the options for your parents. Good to see what other county services may exist to keep your parents in their home - the least expensive option out there.

Also know that Meals on Wheels is not determined by income but by mobility. If one of them is no longer able to move around, then they are eligible. But that can be a bridge too far for many who think it screams poor.

Good luck!

OP said no savings, no retirement...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They don’t have many options. Save the money. They can get long term care Medicaid for a nursing home. Some states do more, others like md do not. B

I can't comment about states, but Medicaid for LTC only kicks in when assets have been spent down. If one spouse needs LTC and the other does not, then Medicaid allows the "community" spouse to retain ~140,000 (can't remember exact figure - has been 10 years) and the house.

Those are really the options for your parents. Good to see what other county services may exist to keep your parents in their home - the least expensive option out there.

Also know that Meals on Wheels is not determined by income but by mobility. If one of them is no longer able to move around, then they are eligible. But that can be a bridge too far for many who think it screams poor.

Good luck!

OP said no savings, no retirement...

I included everything related to the spend down as they have a pension. Medicaid will take that into account if one of them applies for LTC coverage.

OP, I would not pay for a consultation with these limited assets and income. Gotta believe county/city senior services will have someone available to explain possible options. I started this process 12 years ago with my parents and had great luck with the county and city folks in their home town. Private sector folks will try to sell you something that is not needed when your parents have such modest resources.

Good luck to your parents and to you. They are fortunate to have a child looking out for them.

[Anonymous]

OP, this site may be helpful for you and your parents. You can select the state in which they live and learn more about the Medicaid eligibility requirements for that state. That's really their own LTC care option. But being familiar with the process in advance can be immensely helpful.

[Anonymous]

You may want to see what benefits they can qualify for now if any. Also see if there is any subsidized
Senior housing which might have even lower rent. Also do research on low cost or Free activities for
seniors in their area as senior centers usually have a sliding fee scale to join. Staying active with
peers is important for healthy aging. Also maybe see how medical services are available to those on little
Or no resources such as a Free Clinic with perhaps dental services and reduced prescription costs.

[Anonymous]

Anonymous wrote:OP, this site may be helpful for you and your parents. You can select the state in which they live and learn more about the Medicaid eligibility requirements for that state. That's really their own LTC care option. But being familiar with the process in advance can be immensely helpful.

https://www.medicaidplanningassistance.org/about-us/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They don’t have many options. Save the money. They can get long term care Medicaid for a nursing home. Some states do more, others like md do not. B

I can't comment about states, but Medicaid for LTC only kicks in when assets have been spent down. If one spouse needs LTC and the other does not, then Medicaid allows the "community" spouse to retain ~140,000 (can't remember exact figure - has been 10 years) and the house.

Those are really the options for your parents. Good to see what other county services may exist to keep your parents in their home - the least expensive option out there.

Also know that Meals on Wheels is not determined by income but by mobility. If one of them is no longer able to move around, then they are eligible. But that can be a bridge too far for many who think it screams poor.

Good luck!

OP said no savings, no retirement...

I included everything related to the spend down as they have a pension. Medicaid will take that into account if one of them applies for LTC coverage.

OP, I would not pay for a consultation with these limited assets and income. Gotta believe county/city senior services will have someone available to explain possible options. I started this process 12 years ago with my parents and had great luck with the county and city folks in their home town. Private sector folks will try to sell you something that is not needed when your parents have such modest resources.

Good luck to your parents and to you. They are fortunate to have a child looking out for them.

Depending on the amount of pension they still qualify for long term care.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They don’t have many options. Save the money. They can get long term care Medicaid for a nursing home. Some states do more, others like md do not. B

I can't comment about states, but Medicaid for LTC only kicks in when assets have been spent down. If one spouse needs LTC and the other does not, then Medicaid allows the "community" spouse to retain ~140,000 (can't remember exact figure - has been 10 years) and the house.

Those are really the options for your parents. Good to see what other county services may exist to keep your parents in their home - the least expensive option out there.

Also know that Meals on Wheels is not determined by income but by mobility. If one of them is no longer able to move around, then they are eligible. But that can be a bridge too far for many who think it screams poor.

Good luck!

OP said no savings, no retirement...

I included everything related to the spend down as they have a pension. Medicaid will take that into account if one of them applies for LTC coverage.

OP, I would not pay for a consultation with these limited assets and income. Gotta believe county/city senior services will have someone available to explain possible options. I started this process 12 years ago with my parents and had great luck with the county and city folks in their home town. Private sector folks will try to sell you something that is not needed when your parents have such modest resources.

Good luck to your parents and to you. They are fortunate to have a child looking out for them.

Depending on the amount of pension they still qualify for long term care.

Yes, probably so, but better to know in advance, especially if there will be a community spouse who may be living off the pension while the holder of it is in LTC. And every state is different in what they exempt, etc.

May make the most sense for OP to determine what, if any, subsidized affordable housing for seniors is available and get parents on the WL for it, if they can't move in directly now. This really makes sense if the pension is only for one parent as their death could leave the surviving spouse in free fall.

[Anonymous]

Great advice above. You could also consult with an elder care attorney; they are familiar with how to manage Medicaid applications, plan for future, etc.

Important steps:

1)Have your parent appoint POA - both health and financial, and
2)conplete Advance Directives