I found this article in the Arizona Republic interesting. It’s about new assisted living facilities in the Phoenix area that offer reduced rents for people with modest incomes. That could really fill a need, since there are many people who need some assistance but don’t meet the medical criteria for assistance from the Arizona Long Term Care System (ALTCS).
What the article doesn’t say, however, is whether there is an asset test in addition to an income test to qualify for the reduced rent. Many people that I talk to would qualify for benefits from ALTCS based on their income, but have too much in assets to qualify, with the result that they have to use their assets to pay for their care until the assets are all expended, then qualify for benefits because they don’t have enough income to pay for their care.
This kind of planning is often necessary, but is not widely understood. I have been doing it for a long time. The need for it has definitely not decreased.
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