Financial Solutions for Elder Care Alliance Living
We are committed to providing referrals to senior
services regardless of an individual’s economic means. There are
many services available now to help residents and their families
with more affordable options. We feel all seniors deserve a quality
lifestyle and a place you can call home. If you or someone you
know would like to live at an Elder Care Alliance community but
needs financial assistance, the following resources may be helpful
Companion and Studio Living. There
are many ways to enjoy an Elder Care Alliance community at lower
monthly rates without sacrificing any of our amenities, programs,
or services. Roommates can enjoy a shared suite, or you can opt
for a private studio apartment. Please let us know if you are
interested in either of these options and we can refer you to
the Elder Care Alliance community that best fits your needs at
a price you can afford.
Veteran Benefits. If you
are a veteran or the surviving spouse of a veteran, you are eligible
to receive a federal monthly pension to help pay for personal
care such as assisted living. Two veterans who are spouses are
eligible for up to $2,500 in monthly benefits; a veteran who
is currently married is eligible for up to $1,900 monthly, single
veterans are eligible for up to $1,600 monthly, and surviving
spouses are eligible for up to $1,000 monthly. To find out if
you qualify, call the local senior Veteran’s Advocate at Heritage
Financial North at 1.888.579.0429, or visit them online at www.HeritageFinancialNorth.com.
Gift Tax Exemption. Family
members can contribute toward the cost of assisted living and
take advantage of the IRS gift tax exemption. In 2009, individuals
are able to provide gifts of up to $13,000 per person per year
without paying a federal gift tax. For more information, please
consult your tax advisor.
For more information about
any of these programs, please contact a Community Relations Director
at your local Elder Care Alliance community.
Please note that Elder
Care Alliance neither endorses nor requires the exclusive use
of the following service providers. Before making any decisions,
families are strongly encouraged to research all options available
to them and to discuss their options with their financial, tax,
and legal advisors.