Resources for Families
Tax Deductibility Benefits
Current tax law allows an individual to deduct from taxable income certain medical expenses associated with living in nursing facilities, personal care homes and assisted living communities for the purpose of receiving medical care. The deduction may be applicable for adult children or certain other relatives who are paying a portion or all of a resident’s costs associated with living at The Springs at Simpsonville. Consult with your tax advisor to determine if any portion of the expenses paid may be deductible.
Companion Living
Companion suites may be a more affordable option for your loved one. While having a roommate to decrease costs, your loved one won’t sacrifice any community amenities, programs, or services. Find our more by contacting The Springs at 864-962-8570.
ElderLife Financial Services
ElderLife offers flexible line of credit programs that are ideal for those who need supplemental funding for senior living while they wait for other benefits to begin or who are in the process of selling a home. These simple, convenient financing options are available to both residents and families. Visit www.elderlifefinancial.com for more information.
LifeCare Funding
LifeCare Funding assists residents in liquidating life insurance policies that can help cover the costs of senior living when other assets such as a home or stocks are difficult to sell or are underperforming. Visit www.lifecarefunding.com to learn how a life insurance policy might provide benefits now.
Veteran’s Benefits
U.S. veterans and surviving spouses may also be eligible for benefits to assist with covering the cost of care. Eligible veterans or surviving spouses receive a monthly amount to help pay for personal care such as assisted living. Asking a certified veterans Call The Springs to find out more; we can refer you to a VA-accredited claims agent to assist in filing an application for benefits. Several online resources provide information about what types of benefits area available and what the eligibility criteria are:
http://www.benefits.va.gov/pension/aid_attendance_housebound.asp
Talking about moving conjures up images of boxes and boxes of belongings and may bring with it the emotional baggage of determining what to keep and what to leave behind as well as the physical exhaustion of packing everything. Instead of tackling the move alone, why not ask for help? Many companies will provide help in selling your home and/or help with the physical move, with downsizing, or with estate sales.
Suggested Reading to Help Understand Care Options and Learn How to Begin Difficult Conversations
With so many different options for care, how do you know which is best for your loved one? What’s the difference between home care and home health? What’s the difference between a nursing home and assisted living? What can I do when my parents refuse to talk about making a move? We’ve developed e-books that can help you with these questions. Access our e-books here:
We’ve also compiled a list of books that are helpful in terms of understanding an aging loved one’s perspective, coping with caregiving, making end-of-life decisions, and understanding more about dementia. Reading materials can be a great resource, and don’t forget that The Springs staff is always available for a face-to-face chat to assist with any questions.
Being Mortal: Medicine and What Matters in the End
by Atul Gawande
Chicken Soup for the Soul: Living with Alzheimer’s & Other Dementias: 101 Stories of Caregiving, Coping, and Compassion
by Amy Newmark and Angela Timashenka Geiger
Learning to Speak Alzheimer’s: A Groundbreaking Approach for Everyone Dealing with the Disease
by Joanne Koenig Coste and Robert Butler
The Conversation: A Revolutionary Plan for End-of-Life Care
by Angelo Volandes
Final Gifts: Understanding the Special Awareness, Needs, and Communications of the Dying
by Maggie Callanan and Patricia Kelley
