Texas Community Care for the Aged/Disabled
CCAD, which is governed by Texas Health and Human Services, helps low-income seniors at risk of nursing home placement maintain their independence, providing them with personal services in their home or in an assisted living facility. Program benefits include consumer-managed personal attendant services, which allow an eligible senior to designate a caregiver, including a family member. CCAD also covers personal emergency alert systems, which reduce the need for 24-hour oversight. Seniors residing in assisted living facilities may receive residential personal care at the facility.
While benefits may vary according to the individual’s living arrangement, some standard eligibility requirements apply. Applicants must be legal Texas residents with income less than three times the Supplemental Security Income payment. An applicant’s assets must not exceed $5,000 for individuals and $6,000 for couples, although this amount may vary depending on the benefit sought. Applicants who are eligible for identical services through Texas Medicaid programs should not apply.
Interested individuals can contact their local Aging and Disability Resource Center for additional information or to apply.
VA Aid and Attendance Program
Veterans and surviving spouses in need of financial aid for assisted living may be eligible for funding through the VA Aid and Attendance Program, which aims to offset assisted living expenses. Applicants must be 65 or older and require help with activities of daily living.
The application includes complex eligibility requirements, which factor in an applicant’s unreimbursed medical expenses. Since the process may be confusing to some individuals, potential applicants should visit their local VA benefits office for information or to apply.
Assisted Living Bridge Loans
Seniors in need of short-term funding may qualify for an assisted living bridge loan, which can fund up to 12 months of residential care payments. Although these loans may charge high interest rates, they can potentially be a viable option for seniors with benefits pending or those awaiting the payout from a home sale. Bridge loans can be dispersed as a lump sum payment or taken as a line of credit, depending upon an individual’s needs, and may be used to cover the initial expenses of moving to a facility.
Multiple co-borrowers may apply for a bridge loan, lessening the importance of individual creditworthiness and potentially increasing approval odds. Plus, since family members, rather than the senior, apply for a bridge loan, the senior’s age and health don’t impact the chance of approval. Elderlife Financial Services does require information regarding the anticipated source of permanent funding. Families can expect quick response times once their application is submitted.
For further information or to apply, potential applicants can contact Elderlife Financial Services.