Financial Guidance Understanding the financial side of senior care
Senior care costs can be significant, and the funding options are often more varied than families expect. We connect families with specialists who can help.
Ways to fund senior care.
Many families don't realize how many options exist. From Veterans benefits to long-term care insurance to Medi-Cal planning, there may be more support available than you think. A Plan For Senior Care can connect you with the right specialists for each area below.
Long-Term Care Insurance
If your loved one purchased a long-term care policy, it may cover a substantial portion of care costs at home or in a facility. Policies vary widely in what they cover, how benefits are triggered, and how long they pay. A specialist can help you understand exactly what the policy includes and how to activate it.
Veterans Aid & Attendance Benefits
Eligible veterans and surviving spouses may qualify for a tax-free pension benefit that can pay $1,000 to over $2,200 per month toward qualified care costs. Many families don't know this benefit exists. We can connect you with an accredited Veterans benefits specialist who assesses eligibility and handles the application at no cost to you.
Medi-Cal Planning
Medi-Cal is California's Medicaid program. For seniors who qualify, it can cover the cost of long-term care, including nursing home care. Eligibility rules are complex, and early planning can significantly expand what a family qualifies for. A Medi-Cal planning specialist can review your situation and walk you through the options.
Medicare vs. Medi-Cal
Medicare covers short-term skilled nursing and rehabilitation — typically up to 100 days following a qualifying hospital stay. It does not cover ongoing custodial or long-term care. Medi-Cal can cover long-term care for those who qualify. Understanding which applies to your family's situation is often the first question to answer.
Reverse Mortgage
If your loved one owns their home, a reverse mortgage may allow them to access home equity to fund care costs while continuing to live there. A licensed reverse mortgage specialist can explain the options and help families decide whether it's the right fit for their situation.
Estate Planning & Trust Review
A senior care transition often raises questions about powers of attorney, living trusts, and estate planning. An elder law attorney or trust administrator can help ensure your loved one's legal and financial affairs are in order before or during a care transition. We maintain a network of trusted professionals.
Financial Advisor
A financial advisor who specializes in elder care planning can help families understand the full cost picture of senior care, evaluate spending options, and plan for care transitions across different levels of need. We can connect you with advisors who work specifically with families navigating these decisions.
Medicare Insurance Agents
Navigating Medicare supplement plans, Medicare Advantage, and Part D drug coverage can be confusing. A licensed Medicare insurance agent can review your loved one's current coverage, identify gaps, and help select the right plan for their care situation.
Trust Administrators & Fiduciaries
When a senior no longer has family able to manage their financial and care affairs, a professional fiduciary or trust administrator can step in to act in their best interest. We can connect families with licensed fiduciaries.
Not sure where to start?
We'll help you figure out what's right.
Call us and we'll help you figure out which financial resources might apply to your family's situation. No pressure, just a real conversation.