Wisdom Wednesday: Aging Wisdom's Podcast

What is Medicaid spenddown?

"Spend down is a way for someone with Medicare to qualify for Medicaid even if the person’s income is higher than the state’s Medicaid limit. Under spenddown, a state lets the person subtract their non-covered medical expenses and cost sharing (like premiums and deductibles) from their available income, so that their countable income is lowered to a level that qualifies them for Medicaid." (Source: CMS fact sheet)

The timeframe from private pay to spend down to Medicare is anywhere from one to five years. We usually see this when someone has been living in assisted living, for example, a few years and their care needs are increasing. The family's starting to get concerned about their parent's finances and paying for care.

If someone's within a couple years of spending all of their money, it's time to regroup and think about the strategy. Our Care Managers help families strategize, plan, and connect with resources to get this in order.

Sometimes a client will move to an adult family home even before they'd anticipated doing so because that's a supportive living option for a Medicaid spenddown. Spenddown is basically an advanced strategy to get someone in a facility where they can pay privately for that long-term care for one to five years.  And then when their money is gone, they can stay there on Medicaid.

What you want to avoid is running out of money and then having to move. If you're already on Medicaid and you're trying to get into a facility, you have very few options. And that's where that private pay period helps to increase the availability of quality options.

Concerned about a parent's finances and care? Not sure how to anticipate and/or plan for a possible spenddown? We can help.  Schedule a free, get-acquainted call today with one of our Certified Care Managers.

Resources

• Medicaid Spend Down & Extra Help (downloadable CMS fact sheet)
• How a Medicaid Spend Down Works (Newsweek article)
• What is "elder law"? (Aging Wisdom blog article)
• Assembling your support team (Aging Wisdom blog article)

This podcast is part of a longer conversation between Nicole Amico Kane, Director of Care Management at Aging Wisdom, and Brenda Dodd, Director of Training and Special Projects at Áegis Living. 

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Common issues resulting in an emergency: A fall. Wildfire. Health event. Flooding. Heatwave. Earthquake.

Either we have experienced some these issues, helped someone who has, or we may anticipate that one or more may affect us in the future. 

Are you ready for a crisis or emergency?

Regardless of the cause or circumstance, when you are in the midst of an emergency, you are not thinking clearly, so it's important to do a bit of advance planning.

In anticipation, it's wise to have a plan, just as Nicole Amico Kane, Aging Wisdom's Director of Care Management, and Herb "ConsumerMan" Weisbaum discussed. To get started, here are some tried-and-true ideas to put into action:

• A list of important contacts and their information. This may include your health care providers, family members, friends, and neighbors.
• A list of your medications and pertinent medical issues.
• Create a group text or phone call chain to keep family and friends informed.
• A small "go bag" -- a change of clothing, sleepwear, extra phone/tablet charger, extra pair of glasses, hearing aid batteries, hygiene items, copies of the lists mentioned above -- anything that would make an overnight stay away from home more comfortable.
• Consider including these items in your "go bag" as well:
  • Copy of your advance directive and power of attorney documents
  • Copy of your insurance cards and ID
  • Comfort items: pillow, blanket, socks

Not sure to get started? We can guide you in creating a tailored emergency plan. Schedule a call today with one of our care management experts.

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What is Aging Life Care™? 

Aging Life Care is a holistic, client-centered approach to caring for older adults or others facing ongoing health challenges. 

Working with families, the expertise of Aging Life Care Professionals provides answers and clarity at a time of uncertainty. 

Our guidance leads families to the actions and decisions that ensure quality care and an optimal life for those they love, thus reducing worry, stress and time off of work for family caregivers through assessment and monitoring; planning and problem-solving; education and advocacy; family caregiver coaching, and more.

As our colleague Nicole Amico Kane, Director of Care Management at Aging Wisdom, explains, the role of a Care Manager can look a lot of different ways depending on what families need and want from us.

Each family is unique, so Care Managers are flexible and accommodating to each client's needs and goals. We offer a wide variety of services and supports in response.

It can be anything from a one-time consultation where we dive in comprehensively to get to know your situation well and then offer tailored, specific guidance. This saves families the usual stress of navigating their next steps and gets them headed in the right direction with some clarity on what options make the most sense for their circumstances.

For some families that's empowering them and educating them in their role so they feel more confident moving forward.

Other families have us do a little bit more.  They may hire us for ongoing care management support, such as implementing plans, coordinating services, and take things off their plate that they would otherwise be responsible for.

If you live in the greater Seattle area, you can schedule a FREE get-acquainted call with one of our senior care managers.

If you live outside the greater Seattle area, you can find an Aging Life Care Professional (aka a geriatric Care Manager) near you by visiting the Aging Life Care Association.

This podcast is part of a longer conversation between Nicole Amico Kane, Director of Care Management at Aging Wisdom, and Brenda Dodd, Director of Training and Special Projects at Áegis Living.

You can catch Nicole and Brenda, virtually & LIVE, on May 19, from 3 PM to 4 PM Pacific,  where they'll be talking about "Navigating Care and Housing Options." CLICK HERE to learn more and to register.

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Fear of losing independence and freedom are common refrains we hear from clients when the topic of moving to a retirement community is proposed. 

Our parents may be resistant to the idea because they immediately think of the traditional medical model nursing home when you mention a retirement community. It’s not unusual to perceive a senior housing as restrictive, filled with rules. 

The reality is very different. 

Here are some of the positive benefits we have witnessed when our clients move from their single-family homes, townhouses, or condos to a senior living community: 

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