Good nutrition is vital for seniors, but fixed incomes and rising food costs can make preparing healthy meals a challenge. The Supplemental Nutrition Assistance Program (SNAP) offers crucial support, yet many older adults miss out on benefits they qualify for due to confusion about eligibility or the application process. In this article, we break down seven key facts about SNAP for seniors,…
Medicare doesn’t always cover all drugs Most older adults get prescription drug coverage through a Medicare Part D plan or a Medicare Advantage plan. Each plan has a list of drugs that the plan will pay for, called a formulary. A big problem is that these formularies don’t cover everything and change constantly. A new medication your older adult’s doctor prescribes might…
Avoid surprise bills by knowing what Medicare covers Because Medicare is so complex, seniors can end up getting blindsided by huge medical or prescription medication costs when the bills arrive. That’s why it’s important to figure out what Medicare will cover, what counts toward the deductible, what the co-pay will be, and how much will be paid out of pocket. Estimating costs…
Seniors spend a lot on prescription drugs More than half of adults age 65 and older report taking four or more prescription drugs. This often puts significant financial pressure on seniors because the cost of prescription drugs have been increasing steadily over the years, In fact, in 2020, prices increased faster than inflation for half of all drugs covered by Medicare. If…
Senior care costs can add up quickly and many families struggle to pay for the care their older adult needs. All Home Care Matters shares 7 ways to make paying for senior care more affordable. Senior care is costly As older generations age, their healthcare needs become more complex and costly. According to Genworth’s most recent analysis of care costs, the national…
Cost is a major factor in long term care decisions Paying for senior care is a major source of stress for family caregivers, often because costs can spring up suddenly. As your older adult needs more and more help, you’ll probably need to choose between different long term care options, like hiring in-home care vs moving to assisted living or moving from…
Understand Medicare vs. Medicaid to get maximum benefits Medicare and Medicaid can be confusing, partly because the names sound so similar. But they’re two very different government healthcare programs. Medicare focuses on adults age 65 and older and Medicaid focuses on low-income individuals and families. The benefits, costs, and eligibility requirements are different for each program. Neither program has automatic enrollment so…
Planning ahead to pay for long term care helps seniors and caregivers Long term care options for seniors are becoming more expensive. But family caregivers still need help caring for their older adults. That could mean hiring in-home care help, needing home health aides, or moving them to assisted living or a nursing home. Understanding future care costs means that you can prepare…
Thousands of programs provide financial benefits for seniors Senior care is expensive. Fortunately, there are thousands of federal, state, and private benefits programs that provide financial help for seniors. They cover over a dozen categories including medication, health care, income assistance, food, housing, and transportation. To quickly find programs for your older adult, we recommend a free service from the National Council…
Long term care for someone with Alzheimer’s or dementia is expensive. To be able to provide the best care possible, it’s important to plan ahead for future care costs. HealthMarkets explains what Medicare does and doesn’t cover for Alzheimer’s and dementia care. As of 2019, an estimated 5.8 million Americans are living with Alzheimer’s disease or another form of dementia. And the…
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