Document Text Contents
Page 1
1© Copyright 2018 A Place for Mom, Inc. All rights reserved.
SENIOR LIVING
Planner & Guide
Page 2
2© Copyright 2018 A Place for Mom, Inc. All rights reserved.
Transitioning
Discussing a transition to senior living
and making a decision with your loved
one and other family members isn’t
always easy. Learn how to best prepare
and have those conversations.
Tips for Touring
Senior Communities
Costs, services, amenities, character,
resident demographics and social
programs vary widely across senior living
communities. Get tips on what to look for
and how to find the right fit for your needs.
Paying for Senior Care
Learn about uncommon sources of
funding that families can use to help
pay for senior living and care expenses.
Senior Living 101
Discover the various levels of care and
what type of senior community would
best suit your loved one.
1
2
3
4
Page 11
877-666-3235 | www.aplaceformom.com
PAYING FOR SENIOR CARE
Paying for senior care can be a challenge for many families. While some families have the means to pay for
long-term care for an extended period with their income or savings, other families may need to consider
leveraging assets or pooling their combined resources. Many families will use a hybrid of these methods.
INCOME AND SAVINGS
Using personal income or savings to pay for senior living
is the simplest route. If a senior is not able to fully cover
expenses, family members may contribute part of their
income or savings to help pay for care.
LONG-TERM CARE INSURANCE
If your loved one has long-term care insurance, it may
cover assisted living, depending upon the specifics of the
policy. Unfortunately, according to the Long-Term Care As-
sociation, less than 5% of Americans have long-term care
insurance. The most cost-effective time to secure coverage
is during middle-age or younger, as it can be prohibitively
expensive as an older adult. If your loved one is covered,
depending on the policy provision, it can go a long way to
support care costs.
VETERANS BENEFITS
The Department of Veterans Affairs (VA) has assistance
programs, such as the Aid and Attendance benefit, that
can help pay for care for older veterans who served
during specific periods of wartime. Assistance is also
available to qualifying widowed spouses of wartime
veterans.
HOME EQUITY
Many seniors transition from a house or other residence
that they own. The sale of their property holdings can
help pay for their care. For those who need assisted living
immediately, but aren’t able to sell their home right away,
some communities offer deferments that are paid back
once the property sells.
Page 12
13© Copyright 2018 A Place for Mom, Inc. All rights reserved.
SELLING A LIFE INSURANCE POLICY
This practice, known as a “life settlement” involves
selling your policy to another person or a company for a
cash settlement. They pay the premiums from then on,
but collect the benefit when you pass away. This can be
a complicated process so make sure you understand the
impact on your family.
POOLING FAMILY SUPPORT
A senior who cannot afford assisted living often relies
on some financial support from grown children or other
family members.
REVERSE MORTGAGE
A reverse mortgage allows you to borrow money based
on the equity in your home. The loan is paid back
when you sell the home. A reverse mortgage stipulates
that you must reside in your home for the length of
the loan. A reverse mortgage can be useful if a couple
needs care and has full ownership of the house. For
example, if a husband is healthy, but the wife has
advanced Alzheimer’s disease, the couple could use a
reverse mortgage to pay for the wife’s care at an assisted
living community with memory care, while the husband
remains at home.
MEDICAID
In some states, Medicaid covers care at skilled nursing
facilities and assisted living communities. But Medicaid,
which is not to be confused with Medicare, is only
available to seniors who have little or no assets, so it’s
generally an option of last resort. A Place for Mom is
prohibited by federal statute from referring Medicaid
or public pay recipients to its network of senior living
providers.
“Mom really likes it over there. She is going
to an exercise class, attending lectures on
historical figures and making friends. There
are other quilters living there, too! She says
that the whole atmosphere of the place is
happier and friendlier. The staff has been
wonderful. Sally, the director, is so caring
and kind. Thank you for helping us and being
patient through this emotionally trying time.
I will certainly recommend you to anyone
who is looking for assistance.”
Carol M. - Found Assisted Living in Leawood, KS
Page 21
877-666-3235 | www.aplaceformom.com
Essential Documents to Gather
• Birth Certificate
• Driver’s License
• Social Security Card
• Medicare / Medicaid / Insurance Card
• Organ Donor Card
• Marriage Certificate
• Credit Cards
• Mortgage Records
• Military Records
• Legal Power of Attorney, Healthcare Proxy,
Living Will, Advance Directives
Preparing for the Move Gather legal documents such as a durable power of
attorney and a living will
Visit a physician for a physical, TB test and a list of
medications and medical history
Create a transition plan with all family members who
will be involved in the move
Consolidate possessions – if your loved one is
moving to a much smaller space they will need to go
through and decide what things need to be moved to
the new place and what does not
Coordinate the move – if your loved one does not
live near family it will take some time to plan a
weekend where family members can assist with the
move
Ask your Advisor or the community for a reputable
moving company that specializes in transitioning
seniors
1
2
3
4
5
6
Page 22
877-666-3235 | www.aplaceformom.com
Resources
Your Senior Living Advisor
877-666-3235
MySearch Online
Access your personalized senior living referral options
and read community reviews via the URL
included in the email from your Senior Living Advisor.
Senior Living Finder App
Schedule tours, get directions to communities and
keep track of your notes and impressions in this handy app
included in the email from your Senior Living Advisor.
Additional Senior Living Resources
www.aplaceformom.com
http://www.aplaceformom.com
1© Copyright 2018 A Place for Mom, Inc. All rights reserved.
SENIOR LIVING
Planner & Guide
Page 2
2© Copyright 2018 A Place for Mom, Inc. All rights reserved.
Transitioning
Discussing a transition to senior living
and making a decision with your loved
one and other family members isn’t
always easy. Learn how to best prepare
and have those conversations.
Tips for Touring
Senior Communities
Costs, services, amenities, character,
resident demographics and social
programs vary widely across senior living
communities. Get tips on what to look for
and how to find the right fit for your needs.
Paying for Senior Care
Learn about uncommon sources of
funding that families can use to help
pay for senior living and care expenses.
Senior Living 101
Discover the various levels of care and
what type of senior community would
best suit your loved one.
1
2
3
4
Page 11
877-666-3235 | www.aplaceformom.com
PAYING FOR SENIOR CARE
Paying for senior care can be a challenge for many families. While some families have the means to pay for
long-term care for an extended period with their income or savings, other families may need to consider
leveraging assets or pooling their combined resources. Many families will use a hybrid of these methods.
INCOME AND SAVINGS
Using personal income or savings to pay for senior living
is the simplest route. If a senior is not able to fully cover
expenses, family members may contribute part of their
income or savings to help pay for care.
LONG-TERM CARE INSURANCE
If your loved one has long-term care insurance, it may
cover assisted living, depending upon the specifics of the
policy. Unfortunately, according to the Long-Term Care As-
sociation, less than 5% of Americans have long-term care
insurance. The most cost-effective time to secure coverage
is during middle-age or younger, as it can be prohibitively
expensive as an older adult. If your loved one is covered,
depending on the policy provision, it can go a long way to
support care costs.
VETERANS BENEFITS
The Department of Veterans Affairs (VA) has assistance
programs, such as the Aid and Attendance benefit, that
can help pay for care for older veterans who served
during specific periods of wartime. Assistance is also
available to qualifying widowed spouses of wartime
veterans.
HOME EQUITY
Many seniors transition from a house or other residence
that they own. The sale of their property holdings can
help pay for their care. For those who need assisted living
immediately, but aren’t able to sell their home right away,
some communities offer deferments that are paid back
once the property sells.
Page 12
13© Copyright 2018 A Place for Mom, Inc. All rights reserved.
SELLING A LIFE INSURANCE POLICY
This practice, known as a “life settlement” involves
selling your policy to another person or a company for a
cash settlement. They pay the premiums from then on,
but collect the benefit when you pass away. This can be
a complicated process so make sure you understand the
impact on your family.
POOLING FAMILY SUPPORT
A senior who cannot afford assisted living often relies
on some financial support from grown children or other
family members.
REVERSE MORTGAGE
A reverse mortgage allows you to borrow money based
on the equity in your home. The loan is paid back
when you sell the home. A reverse mortgage stipulates
that you must reside in your home for the length of
the loan. A reverse mortgage can be useful if a couple
needs care and has full ownership of the house. For
example, if a husband is healthy, but the wife has
advanced Alzheimer’s disease, the couple could use a
reverse mortgage to pay for the wife’s care at an assisted
living community with memory care, while the husband
remains at home.
MEDICAID
In some states, Medicaid covers care at skilled nursing
facilities and assisted living communities. But Medicaid,
which is not to be confused with Medicare, is only
available to seniors who have little or no assets, so it’s
generally an option of last resort. A Place for Mom is
prohibited by federal statute from referring Medicaid
or public pay recipients to its network of senior living
providers.
“Mom really likes it over there. She is going
to an exercise class, attending lectures on
historical figures and making friends. There
are other quilters living there, too! She says
that the whole atmosphere of the place is
happier and friendlier. The staff has been
wonderful. Sally, the director, is so caring
and kind. Thank you for helping us and being
patient through this emotionally trying time.
I will certainly recommend you to anyone
who is looking for assistance.”
Carol M. - Found Assisted Living in Leawood, KS
Page 21
877-666-3235 | www.aplaceformom.com
Essential Documents to Gather
• Birth Certificate
• Driver’s License
• Social Security Card
• Medicare / Medicaid / Insurance Card
• Organ Donor Card
• Marriage Certificate
• Credit Cards
• Mortgage Records
• Military Records
• Legal Power of Attorney, Healthcare Proxy,
Living Will, Advance Directives
Preparing for the Move Gather legal documents such as a durable power of
attorney and a living will
Visit a physician for a physical, TB test and a list of
medications and medical history
Create a transition plan with all family members who
will be involved in the move
Consolidate possessions – if your loved one is
moving to a much smaller space they will need to go
through and decide what things need to be moved to
the new place and what does not
Coordinate the move – if your loved one does not
live near family it will take some time to plan a
weekend where family members can assist with the
move
Ask your Advisor or the community for a reputable
moving company that specializes in transitioning
seniors
1
2
3
4
5
6
Page 22
877-666-3235 | www.aplaceformom.com
Resources
Your Senior Living Advisor
877-666-3235
MySearch Online
Access your personalized senior living referral options
and read community reviews via the URL
included in the email from your Senior Living Advisor.
Senior Living Finder App
Schedule tours, get directions to communities and
keep track of your notes and impressions in this handy app
included in the email from your Senior Living Advisor.
Additional Senior Living Resources
www.aplaceformom.com
http://www.aplaceformom.com
