This section contains information on a variety of helpful financial tools and programs to assist seniors and their families with addressing the affordability of assisted living at Woodstock Terrace.
To help determine how the cost of living at Terrace Communities compares with the cost of living at home or elsewhere, please see our simple Cost Comparison Worksheet.
The Life Care Funding Group offers to convert your life insurance policy into a long-term care benefit. There are no premiums or waiting periods for this Life Care Assurance Benefit. For more information, contact Life Care Funding Group at 1-800-670-7773 or visit www.lifecarefunding.com.
Veterans and their spouses may be qualified to receive payments from the Aid and Attendance Program of the US Department of Veterans Affairs. This is a benefit paid in addition to a veterans pension. For more information, contact your Veterans Regional Office or visit www.va.gov.
ElderLife Financial Services offers a line of credit that can bridge the gap in funding as you wait for veterans benefits to start or for the sale of a home. Payments can be sent directly to our business office each month at your request and they make it easy for multiple family members to share the care. For more information, contact ElderLife Financial Services at 1-888-228-4500 or visit www.elderlifefinancial.com.
Consider the advantages of rooming with another resident, a more affordable option, when available. Many residents appreciate and benefit from the added companionship.
You may be eligible to deduct ALL or a substantial portion of your monthly rent as a medical deduction from your yearly tax assessment. The cost of assisted living may be tax deductible as a medical expense for both residents and family members who provide financial support.For more information see Tax Deductibility of Assisted Living Expenses, speak to your tax advisor, or visit www.irs.gov.