| Description
| Cost
| Pros & Cons | More Information
|
| Resource Locator Tool
Online tool that helps families identify relevant local, state, national and private assistance programs |
Free |
-Fast, free and simple to use
-Cannot resolve conflicting eligibility requirements
-Provides a list of possible options. Users must take the information and develop their own plan. |
Use the Eldercare Resource Locator Tool |
| Social Service Agencies
Area Agencies on Aging (AAAs) help families to identify assistance programs for which they are eligible as well as provide a range of other services |
Free |
-Strong knowledge of local assistance programs
-Less knowledge of national programs and less larger financial planning experience
-Cannot legally advise on qualifying for Medicaid or VA benefits
-Often under-staffed. May have long wait times for appointments |
Find your local Area Agency on Aging or read more about the services they provide. |
| Elder Care Resource Planners
Help families identify all possible financial and other assistance options, determine care cost scenarios and build plans for later life care |
$1,500 – $2,500 |
-Provide comprehensive view of all possible forms of assistance
-Inexpensive and very thorough
-Provide plans but clients must take action themselves to implement |
Learn more or be connected with a Elder Care Resource Planner in your area |
| Medicaid Planners
Help families, who otherwise would not be eligible for Medicaid, to qualify by restructuring their finances |
$2,000 – $6,000 depending on services provided & amount of assets |
-Focus only on Medicaid; might not be aware of other forms of financial assistance
-Help families preserve their assets |
Learn if you’re eligible for Medicaid and find help qualifying.
Or
Learn more about how Medicaid planning works. |
| Geriatric Care Managers
Primarily retained to manage the care of a loved one, some care managers also provide assistance on the financial planning side. |
$50 – $200 / per hour |
– Very knowledgeable about care needs, local cost of care and care providers
– Typically nursing or social work background not financial planners
– Care management and financial guidance services are bundled |
Search our database of geriatric care managers with financial expertise or search the national association’s database of managers though not necessarily with financial planning expertise. |
| Veterans Benefits Advisors
Help veterans understand benefits, eligibility and to assist them in preparing documents and finances for application. |
Free – $2,500 depending on services provided. |
-Can reduce time required to apply for and therefore to receive benefits
-Greatly increase chance of being approved
-Legally cannot charge for application preparation but can for planning help
-Focused only on veterans benefits, might not be aware of other financial assistance |
Learn more about how Veterans Benefits Planner work or find a benefits planner now. |
| Financial Planners
Trained and certified professionals help families with financial assets to prepare for aging and long term care |
$2,500 – $5,000+ |
-Focused on middle and higher income families
-Lack knowledge of local and low income assistance programs
-Can preserve assets for future generations
-Can be expensive |
Learn more or be connected with a Financial Planner in your area. |
