We know when you’re looking for an assisted living home for a loved one, you want to find the very best care possible. But cost may be a concern. So how do you find the best care at an affordable price?
BridgeWater Assisted Living understands your concern. But we have financial help available. You may qualify for health insurance provided by the Arizona Long-Term Care System (ALTCS for short). Here’s how.
If you’re unfamiliar with ALTCS, you may be wondering exactly what it is. ALTCS is a type of health insurance for individuals who are ages 65 and older or who have a disability and require nursing home–level care. You don’t need to reside in a nursing home, however, to qualify. You can also choose to remain at home with regular help or to stay at an assisted living community.
There are two types of requirements in order to be eligible for ALTCS—financial requirements and non-financial. In addition to requiring nursing home–level care, you must also be a US citizen or qualified immigrant, as well as an Arizona resident. You will also need a Social Security number. If you don’t already have one, you can apply for one.
In order to meet financial requirements for ALTCS, you must have less than $2,000 in countable resources as a single applicant. Countable resources include checking, savings, and credit union accounts; real property you don’t reside in; cash value of some life insurance policies; non-exempt vehicles; and cash, stocks, bonds, or certificates of deposit.
Some types of resources that are not considered countable resources include a home you live in, a primary car, burial plots, and household or personal belongings. If your countable resources are more than $2,000 and you’re under the age of 65, you may still be able to qualify by setting up a specific type of trust.
Additionally, your monthly income limit is $2,382 for a single individual. Income includes, but is not limited to, wages, Social Security, and disability or retirement pensions. Again, if you make more than the allowable amount, you may still be able to qualify by setting up a certain type of trust.
If you believe you meet the eligibility requirements and are interested in filling out an ALTCS application, you can complete the online form here. You may also visit an ALTCS office and apply in-person or you can apply over the phone.
Applications typically take 45 to 60 days to process. You must also apply for other types of financial assistance for which you’re eligible, including pensions or VA benefits.
If you do qualify for ALTCS, you may be responsible for what’s known as a shared cost. That means you will be responsible for covering a portion of your expenses, and ALTCS will pay the remainder.
If you have additional questions about the ALTCS application, you can give Senior Planning a call. You can also speak with a community benefits advocate at BridgeWater. They can also answer any questions you have about other financial solutions available.
We truly believe that affordable senior living should be available to everyone, and we will do everything we can to make that happen for you.