Taking care of our loved ones can get pretty costly, and this is particularly true when it comes to the elderly, as they require special care that only qualified caregivers can provide.
Hiring any old nanny just won’t cut it, and not everyone has the funds to give their parents a nice and quiet life in some high-quality retirement home.
With the cost of living constantly on the rise, even lower-end care facilities are no longer an option for most Americans, and that’s where the government assistance programs step in, providing help for those that need it the most.
Certain federal, state, and even local programs can provide financial and legal assistance or counseling when it comes to taking care of an elderly or disabled person, including numerous other forms of support.
Medicare
Even though Medicare is usually viewed as medical and hospital insurance for low-income American, there’s a lot more to the program than just that.
Normally, any person above the age of 65 who is receiving their Social Security benefits already qualifies for Medicare Part A benefits for free, whereas their Part B premiums are automatically deducted from their SSA benefits.
Prescription drug coverage, on the other hand, is funded through private insurance companies, which make payments that go towards funding a portion of a patient’s prescription drug costs.
What most people don’t know is that Medicare also offers a Savings Program for elderly US residents with limited assets, and depending on their residence, your loved ones may be entitled to partial coverage of both Part A and B premiums as well as coinsurance, deductibles, and copayments for any of their health-related expenses.
With Extra Help, which is yet another government program aimed at elderly Americans, low-income senior citizens can help minimize their Part D prescription drug costs, which comes out a lot in the long run.
SSI
If your parent or guardian’s Social Security benefits were earned through decades of working low-income jobs, resulting in these benefits being their only source of income, you may be able to apply them for a larger benefit through the SSI program.
With Supplemental Security Income, an applicant that meets certain income and asset requirements can receive additional funds to help with their living expenses, with these payments being made on a monthly basis.
The program is funded by the federal government and was created as a means of helping elderly, blind, and disabled Americans deal with the growing cost of living.
Normally, being eligible for SSI means that the applicant may also be eligible for a number of other assistance programs, including Medicaid and SNAP, both of which deal with very different issues.
Department of Veterans Affairs
There’s nothing quite like Grandpa’s wartime stories, and while listening to him talk about those years he spent on duty, it’s important to remember that most veterans have scars, physical and mental, that they’ll carry with them for the rest of their lives.
In order to help them reintegrate into society as well as aid them with their living expenses, the Department of Veterans Affairs offers a wide array of benefits to veterans and their spouses, including assistance for the elderly.
Through the VA, elderly veterans or spouses of qualifying deceased veterans can receive health care services, long-term care, pensions, and compensation for disabilities sustained during service.
Even though the application process can take some time, the best way to start it is by finding your loved one’s discharge papers, as they’ll be crucial to determining their eligibility for the program and help secure the assistance they’re entitled to for serving their country.
Medicaid
Finally, we have Medicaid, the federal and state-level program that ensures every American gets access to health coverage, even if their income wouldn’t normally be able to cover it.
In order to qualify for Medicaid, an adult American must be at or above the age of 65, with the main advantage over Medicare being that this program offers long-term care as well as home or community-based services, rather than coverage for health insurance.
That being said, the financial requirements for Medicaid are much more strict, and the applicant will undergo a lengthy examination of their financial assets before they’re approved for federal assistance.
Even though it’s a federal program, each state has its own criteria regarding one’s assets, so eligibility may vary, although you can choose which state you’ll be applying in, which is recommended if you wish to maximize your benefits.
Bottom line
While the elderly do have a pretty tough time surviving in this economy, the federal government has created numerous assistance programs to make their retirement years just a bit easier.
From medical to financial assistance, the options are practically endless, and you’ll have to consult with your loved ones in order to make sure you’re applying for the program they need the most.
