Month: August 2024

Categories
Placement Services

Assisted Living vs. Nursing Home: Which is right for you?

Assisted Living vs. Nursing Home: Which is right for you?

We have provided a comprehensive comparison between what is offered in Assisted Living settings and Nursing Home settings in the table below:

Assisted LivingNursing Home
For mobile individuals requiring some personal care and assistance with activities of daily living.For individuals requiring more extensive personal and/or medical care, who may also be immobile or have severe cognitive impairments.
The living space provided is typically in private or shared apartments with private bathrooms and kitchenettes. A common space and outside areas are also typically included.The living space provided is typically a private or shared room in a more clinical setting. A common space is typically included, but outside access is usually limited or unavailable.
The current cost in Utah ranges from around $2,795.00 to $5,450.00 per month.The current average private-pay rate in Utah is $6,908.00 per month.
Most costs are paid out of pocket, but some payment
options and assistance programs include VA Pensions and Utah Medicaid’s New Choices Waiver.		Long Term Care or Nursing Home Medicaid is the most common payment assistance once out of pocket resources are exhausted and assets are spent down.

Utah Senior Planning offers customized Medicaid planning that can help preserve assets and ensure that you or your loved one qualifies as quickly as possible. Our Medicaid professionals will guide you through the process, answering your questions along the way and ensuring you get all of the help that you deserve.

In addition to Medicaid planning, Utah Senior Planning also offers resources for placement in both Assisted Living and Nursing Home settings. We will schedule tours, go with you, answer questions, and provide a personalized experience to meet your needs.

To schedule a free consultation regarding Medicaid planning and eligibility or facility placement, you can call us at 801-546-9556, text 801-326-4862, or email [email protected].

Categories
Medicaid

I Heard Medicaid Takes Away Your House?

I Heard Medicaid Takes Away Your House?

This is a common misconception in relation to Medicaid and couldn’t be further from the truth. In Utah Nursing Home Medicaid, you are allowed to exclude one home and one vehicle from your overall assets. Losing your home because you got on Medicaid is not a typical scenario. However, it is important to understand the specific rules of Utah Medicaid.

UNDER NURSING HOME MEDICAID:

Your primary residence is generally considered an exempt asset. Its value is not counted towards the asset limit for Medicaid eligibility. 

After the Medicaid recipient passes away, there is a possibility of estate recovery where the state seeks to recover funds paid on behalf of the individual. This can include the value of the home. However, exemptions and protections may apply, such as in the presence of a surviving spouse, certain dependents, or specific circumstances. 

It’s crucial to consult with a professional specializing in elder law or Medicaid planning to understand the specific rules and guidelines related to the treatment of your primary residence under Utah Nursing Home Medicaid. Many “horror stories” occur when someone unknowingly applies for Medicaid without the proper guidance, thus resulting in penalties. Utah Senior Planning can provide personalized advice and help you navigate the regulations to protect your assets and make informed decisions regarding your home. 

Understanding Medicaid’s relationship with your home under Utah Nursing Home Medicaid is vital. While your primary residence is generally protected as an exempt asset, navigating the potential complexities of estate recovery requires professional guidance. To avoid common pitfalls and protect your home effectively, consulting with specialists like Utah Senior Planning is crucial. We provide the expert advice needed to make informed decisions and ensure your assets are safeguarded for the future.

Categories
Senior Tips

How Can Seniors Make Their Homes Safer as They Age?

Enhancing Home Safety for Seniors: Age-Proofing Your Living Space

As we age, our homes, which once felt completely safe, can present new challenges and risks. Falls are the leading cause of injury among seniors, making home safety modifications not just a precaution but a necessity. This blog post will guide you through practical steps to make your home safer as you age, ensuring that your living environment supports your changing needs.

UNDERSTANDING THE RISKS

The risk of falls and injuries in the home increases as individuals age due to factors such as decreased mobility, vision impairments, and slower reflexes. Common hazards include slippery floors, poor lighting, and cluttered walkways, all of which can be mitigated with thoughtful modifications.

KEY HOME MODIFICATIONS FOR SAFETY

Installing Grab Bars and Handrails

Locations:

Bathrooms and stairways are critical areas where grab bars and handrails should be installed to provide support.

Benefits:

These aids help prevent falls by allowing seniors to steady themselves in slippery conditions or when balance is compromised.

Improving Home Lighting

Areas of Focus:

Increase lighting at entrances, hallways, stairs, and between the bedroom and bathroom. Consider night lights in hallways and bathrooms for better visibility at night.

Benefits:

Enhanced lighting helps in reducing falls by improving visibility, making it easier to navigate the home safely.

Removing Trip Hazards

How To Do It:

Secure or remove loose rugs, clear paths of electrical cords, and eliminate clutter. Opt for non-slip mats where necessary.

Benefits:

Clearing trip hazards significantly reduces the risk of falls, making everyday activities safer.

Updating Flooring

Options:

Replace high-pile carpet with low-pile alternatives to prevent tripping. Consider using anti-slip flooring solutions in areas like the kitchen and bathroom.

Benefits:

Safer flooring materials can prevent slips and falls, especially in areas that are prone to getting wet.

Bathroom Safety Enhancements

Modifications:

Install walk-in tubs or showers with built-in seats, and consider higher toilet seats to make getting up and down easier.

Benefits:

These changes can help prevent falls and make the bathroom more accessible for those with limited mobility.

Smart Home Technology

Tools to Consider:

Automated systems for lights, security, and thermostat control can reduce the need to move unnecessarily around the house.

Benefits:

Smart technology can enhance safety by making it easier to manage the environment and respond quickly in case of emergencies.

Making your home safer as you age is a proactive approach to maintain your independence and well-being. Simple modifications can have a profound impact on your quality of life, providing peace of mind to both you and your loved ones. Remember, adapting your home doesn’t mean losing its charm or your comfort—it means enhancing it to meet your evolving needs.

Categories
Medicaid

What If I Share A Bank Account With My Kids?

What If I Share A Bank Account With My Kids?

When applying for Medicaid, sharing a bank account with your children can have implications for your eligibility.

Here are some options to consider:

SEPARATE ACCOUNTS

One option is to separate your bank account from your children’s accounts. This involves opening a new bank account solely in your name and transferring your funds into that account. By keeping your finances separate, it may be easier to demonstrate your income 

and assets accurately for Medicaid eligibility purposes. Be careful when dividing assets whereas Medicaid has certain limitations and rules regarding “gifting” assets. Medicaid will penalize you for gifting assets. Before moving any type of money around it is important to consult with a Medicaid planner. At Utah Senior Planning we help consult families on financial planning in order to avoid penalties from Medicaid. 

JOINT ACCOUNTS

If you currently have a joint bank account with your children, Medicaid will consider the funds in the account as both yours and your children’s assets. This means that the total amount in the account will be counted towards your asset limit. Any transfers or withdrawals made from the joint account may be subject to penalties. Be careful when accounting for separating assets, if you aren’t careful you may be penalized for gifting assets. To avoid problems like this it is important to speak with a professional that is experienced in Medicaid planning enabling you to separate assets compliantly to avoid future headache. 

TRUSTS

 Another option to consider is creating a trust. A trust allows you to transfer assets into a legal entity managed by a trustee. This can help protect your assets and potentially meet Medicaid’s eligibility requirements. Consulting with an elder law attorney or a financial advisor is important to do sooner rather than later because this may have further implications for thefuture. An attorney or a Medicaid specialist can provide personalized advice based on your specific situation and the Medicaid rules in your state. They can assess your assets, income, and other factors to determine the best course of action for your Medicaid application. Utah Senior Planning specializes in elder law and can ensure you are taking the right steps to plan for your future. 

Navigating shared bank accounts while planning for Medicaid can be complex, and the decisions made today can significantly impact your eligibility and financial health tomorrow. At Utah Senior Planning, we are committed to helping you understand these intricacies, ensuring that your financial planning aligns with Medicaid regulations to secure your future. Whether it’s evaluating the viability of a joint account, considering a trust, or simply reorganizing your assets, our team is here to provide expert guidance tailored to your unique situation. Let us help you make informed decisions that protect your interests and ensure peace of mind.