Are you or your loved ones thinking about joining a memory care program in Manasota Key, FL? After all, a memory care program offers tons of benefits and enjoyable activities for everyone alike. From enjoying a low-maintenance lifestyle to eating freshly prepared nutritious and delicious meals, to being part of a great community, these are just some of the numerous wonderful benefits a memory care program can offer.
Nonetheless, joining a memory care program also brings about an important question. How exactly do you pay for it? No worries, we got your back. Read on for the 5 ways you can pay for a memory care program in Manasota Key, FL.
Medicare
Firstly, you or your loved ones can make use of Medicare to pay for a memory care program in Manasota Key, KL. As long as you or your loved ones are eligible for social security, you or your loved ones can benefit from this government program.
This program can assist you or your loved ones (if you or your loved ones have dementia) with the majority of the expenses. In fact, if you or your loved ones have also bought Medicare Part D, you can benefit from prescription medication assistance.
Take note, however, that you or your loved ones need to enroll for Medicare 3 months before turning 65 years old. While this Medicare program covers up to 100 days of the memory care program, it does not cover the long-term.
Medicaid
Another way to pay for a memory care program in Manasota Key, KL is via Medicaid. This is a government-funded program that normally offers a greater level of benefits and coverage. While it offers better monetary assistance, fewer individuals also qualify for it.
Typically, it is offered to those with modest incomes or those that have spent a majority of their personal funds on Alzheimer’s care. Nonetheless, because of how beneficial it is, it would be good to apply for it and see if you or your loved ones are approved for this program.
Veterans Affairs Benefits for Memory
If you or your loved ones are military veterans, you or your loved ones can make use of the Veterans Affairs Benefits for Memory program by the U.S. Department of Veterans Affairs (VA). Partners of service veterans with dementia are another group of individuals that may also be eligible for this VA assistance.
And this includes those that served in the active military, air, or naval services. Nonetheless, it will be best to contact with the relevant departments promptly for more information.
Long-Term Care Insurance
Long-term care insurance, while less often utilized than many other financial choices, is another great way to fund your or your loved ones’ memory care program in Manasota Key, FL. In fact, because long-term care insurance is not a governmental program (unlike Medicaid or Medicare for example), it also offers additional alternatives, flexibility, and more financial aid.
It can also assist pay for the memory care program regardless of your or your loved ones’ financial situation. Here is our recommendation to maximize the long-term care insurance benefits. It is best to get it sooner rather than later, as it will be less costly.
Personal Assets
Personal assets are one other way to pay for a memory care program in Manasota Key, FL. Ranging from your or your loved ones’ own savings to the monetary assistance from others, or investments, it can come in many ways.
