47 Secret Veterans' Benefits for Seniors
Many veterans don't realize all the benefits available to them. This book provides older veterans with insider tips to help t...
Read moreAccording to Pew Research, 18 percent of Americans are 65 and older, and more than one in five Americans will be in this age range by 2054.
The Centers for Disease Control and Prevention (CDC) notes that older adults are at greater risk for social isolation and warns that loneliness puts people at risk for severe mental and physical health problems. Older people spend around seven hours alone daily. In contrast, people younger than 40 are alone an average of three and a half hours a day. Other risk factors for isolation include experiencing health problems and living in rural areas away from community and support.
Multigenerational living presents a possible solution to loneliness in old age. In multigenerational homes and facilities, older adults may benefit from a sense of community with younger people, stronger relationships with extended family members, or less financial strain. This type of arrangement can take many forms, such as:
A famous example of a multigenerational senior living facility is Humanitas Deventer, a care home in Holland where older adults live with students. Students spend time with the retirees in exchange for free housing. Six university students live in the care home at a time, taking turns cooking for the residents. They also play games and socialize with residents.
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Living arrangements like Humanitas Deventer can cater to the needs of students seeking affordable housing and older adults looking to connect with people across generations.
Another intergenerational housing program, LinkAges, connects people with Ph.D.s with older adults in the community. The program matches students looking for lower rent with older adults needing assistance. The postdocs help with basic chores and offer company.
These types of arrangements seem to be less common in the United States. However, older adults may create their own opportunities for multigenerational living. They may be able to move in with family members or open their homes to student renters who can assist with chores and cooking.
Many young people in college prefer having their own apartment so they can focus on academics. Older adults may also appreciate having their own living space as well, so they are not disturbed by students up late socializing or studying.
Some multigenerational communities that reflect these preferences involve individuals from different generations living in the same community but in separate units. For example, retirement communities near college campuses present an opportunity for older adults and younger people to meet in the community but have their own residences. In the United States, there are over 100 senior living communities on or near college campuses.
Arizona State University (ASU) has a retirement home called Mirabella at ASU, located close to the student dorms. Residents can access university resources such as the library and can attend classes and sporting events. Taking college courses, being a part of the community, and getting to know students can improve the lives of older adults, offering cognitive benefits and lessening loneliness. While 30 percent of Mirabella’s residents have a connection to the university, you don’t have to have attended the university to qualify for this type of housing.
Most university-affiliated senior living facilities are continuing care retirement communities, which offer support and assistance to meet a resident’s evolving needs.
In the United States and other countries, special housing developments that purposely integrate senior care facilities and children’s daycare programs also are seeking to connect young and older generations.
For older adults facing the prospect of isolation, multigenerational living may offer benefits such as the following:
At the same time, multigenerational living can provide elders with opportunities to share their own wisdom and emotional support. Helping young adults navigate life’s changes may offer a sense of meaning and perhaps an even happier and more fulfilling retirement.
Many veterans don't realize all the benefits available to them. This book provides older veterans with insider tips to help t...
Read moreAlmost all state Medicaid programs will cover some assisted living costs, although there may be a waiting list.
Read moreA little-known feature of the Social Security system is that in addition to paying retirement benefits for the retired worker...
Read moreIf you are a senior on a fixed income, you may worry that you will not have the money to fill your fridge. The Supplemental N...
Read moreIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MOREIn addition to nursing home care, Medicaid may cover home care and some care in an assisted living facility. Coverage in your state may depend on waivers of federal rules.
READ MORETo be eligible for Medicaid long-term care, recipients must have limited incomes and no more than $2,000 (in most states). Special rules apply for the home and other assets.
READ MORESpouses of Medicaid nursing home residents have special protections to keep them from becoming impoverished.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MORECareful planning for potentially devastating long-term care costs can help protect your estate, whether for your spouse or for your children.
READ MOREIf steps aren't taken to protect the Medicaid recipient's house from the state’s attempts to recover benefits paid, the house may need to be sold.
READ MOREThere are ways to handle excess income or assets and still qualify for Medicaid long-term care, and programs that deliver care at home rather than in a nursing home.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREMost states have laws on the books making adult children responsible if their parents can't afford to take care of themselves.
READ MOREApplying for Medicaid is a highly technical and complex process, and bad advice can actually make it more difficult to qualify for benefits.
READ MOREMedicare's coverage of nursing home care is quite limited. For those who can afford it and who can qualify for coverage, long-term care insurance is the best alternative to Medicaid.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREDistinguish the key concepts in estate planning, including the will, the trust, probate, the power of attorney, and how to avoid estate taxes.
READ MORELearn about grandparents’ visitation rights and how to avoid tax and public benefit issues when making gifts to grandchildren.
READ MOREUnderstand when and how a court appoints a guardian or conservator for an adult who becomes incapacitated, and how to avoid guardianship.
READ MOREWe need to plan for the possibility that we will become unable to make our own medical decisions. This may take the form of a health care proxy, a medical directive, a living will, or a combination of these.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MORELearn who qualifies for Medicare, what the program covers, all about Medicare Advantage, and how to supplement Medicare’s coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREUnderstand the ins and outs of insurance to cover the high cost of nursing home care, including when to buy it, how much to buy, and which spouse should get the coverage.
READ MOREWe explain the five phases of retirement planning, the difference between a 401(k) and an IRA, types of investments, asset diversification, the required minimum distribution rules, and more.
READ MOREFind out how to choose a nursing home or assisted living facility, when to fight a discharge, the rights of nursing home residents, all about reverse mortgages, and more.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MOREGet a solid grounding in Social Security, including who is eligible, how to apply, spousal benefits, the taxation of benefits, how work affects payments, and SSDI and SSI.
READ MORELearn how a special needs trust can preserve assets for a person with disabilities without jeopardizing Medicaid and SSI, and how to plan for when caregivers are gone.
READ MOREExplore benefits for older veterans, including the VA’s disability pension benefit, aid and attendance, and long-term care coverage for veterans and surviving spouses.
READ MORE