Reply to Willing to pay for a consultation for elder care financial information

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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=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[/quote]

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![/quote]

OP said no savings, no retirement...[/quote]

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. [/quote]

Depending on the amount of pension they still qualify for long term care.  [/quote]

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. [/quote]

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