Financial Programs
Affordable Program
Orchard Hill at Sudbury offers nine (9) apartments as affordable units. Under the plan, the affordable units will be occupied by persons eligible to participate in the Low Income Housing Tax Credit (LIHTC) Program. In order to qualify for an affordable unit at Orchard Hill, the applicant must first meet the financial eligibility criteria under the Affordable Program. An applicant’s annual 2022 income (for one person) may not exceed $49,100. An applicant’s annual 2022 income (for two people) may not exceed $56,100. Residents participating in this program are required to provide us (initially and annually) with copies of their personal income tax returns and/or other documentation as needed to verify information on the Move-In Certification and annual Re-Certification forms. In addition, all applicants are subject to the normal reference checks and application approval process. Please contact our business office for complete details regarding the program.
Allowance for Aid and Attendance or Housebound Veterans
A Veteran who is determined by VA to be in need of the regular aid and attendance of another person, or a Veteran who is permanently housebound, may be entitled to additional disability compensation or pension payments. A Veteran evaluated at 30 percent or more disabled is entitled to receive an additional payment for a spouse who is in need of the aid and attendance of another person. The Department of Veterans Affairs provides an Aid and Attendance Pension to eligible wartime veterans and their surviving spouses which can help offset the expense of an assisted living Community. If the veteran qualifies, Aid & Attendance funds are provided in addition to monthly pension and Social Security benefits.
Veterans may qualify for as much as:
- Two veterans married: $3,261 per month
- Married veteran: $2,431 per month
- Single veteran: $2,050 per month
- Surviving spouse: $1,318 per month
Please reference http://www.benefits.va.gov/pension/aid_attendance_housebound.asp for more details.
Long-term Care Insurance
Unlike traditional health insurance, long-term care insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings such as your home, a community organization, or other facility.
Long-term care insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, or eating. You can select a range of care options and benefits that allow you to get the services you need, where you need them.
The cost of your long-term care policy is based on:
- How old you are when you buy the policy
- The maximum amount that a policy will pay per day
- The maximum number of days (years) that a policy will pay
- The maximum amount per day times the number of days determines the lifetime maximum amount that the policy will pay.
- Any optional benefits you choose, such as benefits that increase with inflation
If you are in poor health or already receiving long-term care services, you may not qualify for long-term care insurance as most individual policies require medical underwriting. In some cases, you may be able to buy a limited amount of coverage, or coverage at a higher “non-standard” rate. Some group policies do not require underwriting.
Many long-term care insurance policies have limits on how long or how much they will pay. Some policies will pay the costs of your long-term care for two to five years, while other insurance companies offer policies that will pay your long-term care costs for as long as you live—no matter how much it costs. But there are very few that have no such limits.
For complete information go to http://longtermcare.gov/costs-how-to-pay/what-is-long-term-care-insurance/