SPONSORED CONTENT BUSINESS SPOTLIGHT
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ASSISTED LIVING AND PERSONAL CARE
One of the main things we look at when considering a senior living community is how much do things cost and what all can be used to pay for living at any senior living community . As with most things in the current day , the pricing of senior living has gone up due to the pricing pressures we all see in our day-to-day lives . So what all do we consider when it comes to the cost of senior living ?
The first thing we really look at is what does the senior have each month as far as a monthly income . What is the Social Security amount each month and are there any additional resources such as a pension . That is the first thing we want to look at and discuss . From there , we will want to look at any investment accounts , IRAs , 401 ( k ) plans , and retirement savings as well as the potential for any funds from the sale of a house or property . We want to consider what these income sources look like from a very high level to get a grasp of what the available resources are . Having an understanding of the full financial picture is very important when it comes to senior living communities , because as mentioned , the costs of these communities are going up as well .
The last thing that we look at is the potential for veterans benefits . There are a few different benefits available , but the specific one we want to talk about is called the VA Aid and Attendance benefit , which can be used for in-home care , independent living communities and assisted living communities . There are qualifications that we need to look at and review , but it is a benefit that is not as widely known as others to help pay for senior living .
When looking at the Aid and Attendance benefit possibility , we want to see if the veteran was active-duty for 90 consecutive days with one of those days being during a declared wartime period . Was the person honorably discharged ? And is the veteran currently below the financial threshold for overall asset levels ? If the answer is yes to all these questions , and the veteran is looking for in-home care or senior living , then there are potentially some financial benefits from the VA to help pay for the care .
At Oasis Senior Advisors , we assist families in all aspects of senior living and resources — from the different types of senior living communities to where they are located and what services are provided . We provide free consultations and never charge the families we help . To learn more , contact Oasis Senior Advisors of Southwest PA .
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