In a previous post titled Long Term Care: What Does Medicare Actually Cover?, I described the possible out-of-pocket financial impact someone may face by receiving care in a private-pay skilled nursing facility (SNF) versus a Medicare-certified SNF. In a nutshell, Medicare Part A will cover medically necessary skilled nursing care—for a limited time and limited amount—if certain [...]
The distinguishing—even defining—feature of a continuing care retirement community (CCRC, or life plan community) is contractually-provided access to a “continuum of care,” which typically includes independent living, assisted living, memory care, and/or skilled nursing care; each of these services is usually offered on-site (although not always). I wrote a blog post about the “continuum of [...]
In last week’s blog post, I discussed the steps you and your family can take in advance of a healthcare emergency to reduce some of the stress of a difficult situation—what’s referred to as “pre-crisis planning.” From exploring assisted living facilities in your area to working with an experienced financial advisor to prepare your assets, [...]
“Planning for a crisis”: It almost sounds like an oxymoron. But as we grow older, it becomes a matter of practicality. Yes, we’d all like to think that we will be healthy and able-bodied for the rest of our lives, but unfortunately, that’s not always the case. And that’s where planning for a crisis comes [...]
If you have been looking at various senior living options, including continuing care retirement communities (CCRCs, also called life plan communities), you have likely heard or seen the term “continuum of care” used. It’s an important concept when it comes to the variety of services provided by retirement communities, but I find it is also [...]
