Coping With Alzheimer’s
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Caregivers Carry a Heavy Load
In fact, half of all elders that need help with their activities of daily living are suffering from Alzheimer’s or some other form of dementia.This responsibility often falls into the hands of people that are senior citizens in their own right. One of three people that are providing care for people with Alzheimer’s disease are 65 or older, and 66% of them are women. One-fourth of caregivers are members of the “sandwich generation.” They are providing assistance for an elder parent while they are still responsible for dependent children.
Nursing Home Care
Unfortunately, Medicare does not pay for a stay in a nursing home, because it is considered to be custodial care.Medicaid is a jointly administered federal/state government program that will pay for long-term care. Since it is intended for individuals with limited resources, people with a reasonable store of assets typically give gifts to their loved ones to be able to qualify. It would also be possible to fund an irrevocable Medicaid trust to get assets out of the name of the future applicant.Advance planning is key, because the divestitures must be completed at least five years before the application for Medicaid coverage is submitted.
When it comes to Alzheimer’s disease, since there are distinct stages, Medicaid planning should be considered as soon as an early diagnosis is received. Of course, when you recognize how common this disease has become, you can be proactive about Medicaid planning before there are any noticeable warning signs. Along these lines, remember, Alzheimer’s is not the only underlying reason why an elder may require nursing home care.