FINANCIAL OPTIONS

When it comes to paying for Memory Care or Assisted Living, each circumstance is unique. Many of the elderly rely on the proceeds from the sale of their home or they depend on their savings to pay for Memory Care and Assisted Living. There are other options as well that provide resources if needed. Such options include…

 

VA BENEFITS (WAR VETERANS)

 

Many residents who require Memory Care or Assisted Living are either veterans who were on active duty during wartime or the spouse such a veteran. If qualified, the veteran could receive nearly $2,000 each month to help supplement Memory Care or Assisted Living costs and the spouse could receive nearly $1,000 each month for his/her costs. The name of this benefit program is “Aid and Attendance.” For more information, you can reach the Utah Regional Office at 1 (800) 827-1000 or visit www.va.gov. Call us for more specifics about qualifications for this benefit or visithttp://www.vba.va.gov/bln/21/pension/vetpen.htm#7

 

TAX BENEFITS

 

For many residents and resident families, the cost of Memory Care and Assisted Living is typically tax deductible. For more information, visit http://www.irs.gov/pub/irs-pdf/p502.pdf. Consult with your certified accountant for all tax advice as we are not experts in this field.