| 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 to you.
Two-Person 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. You can opt for a private studio apartment or share a suite witha second person. 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.
Elderlife Line of Credit.
If you are in the process of selling a home or liquidating
a portfolio, or are waiting to receive veteran benefits,
this fast and easy way to finance a move to an Elder Care
Alliance community is available to anyone, regardless of
age.* In most cases, applicants will receive a same-day decision
and funding within 48 hours. For more information, contact
Elderlife Financial Services at 1.888.228.4500, or visit
them online at www.ElderlifeFinancial.com. They
will gladly show you how you can make low, affordable interest-only
payments (with principal due at maturity) while you take
the time you need to help your loved one with their financial
affairs.
*Subject to bank/credit approval.
M&I Bank is the creditor for the Elderlife Line of Credit
program.
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. |
