Skilled Care vs Custodial Care
Care that is prescribed by a doctor and performed by licensed health care professionals is also referred to as skilled care. Wound care, IV antibiotics and physical therapy after a stroke are some common times when skilled care is required. Care that is privately paid for and can be performed [...]
Understanding Health Insurance: Medicare
A common misconception is that health insurance will pay for long term care. However, most insurance policies are not built this way, including Medicare, Medicare Supplements, HMOs, employer supplied insurance and disability insurance. Medicare, for those 65 and older with disabilities and/or End Stage Renal disease covers much of your [...]
Personal Emergency Response Systems
A personal emergency response system should be considered for all seniors aging in place, especially if they will be home alone. It is not uncommon for seniors to fall and be unable to summon help. This system allows a senior to contact help by pushing a button whether at home [...]
Keeping Seniors Safe In Their Own Homes
Keeping seniors safe in their own homes includes making sure both interior and exterior spaces are senior friendly, accessible for those that are disabled and up to code. Modifications can be made to most homes to allow for wheelchairs and walkers. Throw rugs within the home are not recommended as [...]
Talk to Employers about Dependent Care FSAs
Flexible Spending Accounts, or FSAs, can be a useful tool for caregivers of ailing relatives. FSAs are structured to allow employees to place a portion of their pre-tax salary into a separate account which is designated for use in covering health care expenses. In many cases, these expenses do not [...]
Qualifying Expenses Part II
When you are a caregiver, the laws surrounding what can be deducted, and the conditions that must be met for the deduction to happen, can be complicated and detailed. This is especially true in cases when the support has complications such as: Multiple siblings caring for a parent Taxable income [...]
Qualifying Expenses Part I
Claiming a loved one as a dependent can be a good way to offset the loss of income when you become a full-time caregiver. If you are planning to take this path, there are certain qualifying expenses that you can include as additional deductions which can increase the financial cushion [...]
Tax Deductions and Benefits for Caregivers
Caring for a loved one is not only difficult and sometimes emotionally draining, it can be expensive. The loss of income often suffered by the requirements of full-time caregiving can be crippling if you don’t have a way to offset that difficulty. Fortunately, there is an option to take a [...]