Have any questions about how to use the community? Check out the Help Discussion.

Suspecting Dementia, Trying Not to Panic - Money Worries

babettesfeafst
babettesfeafst Member Posts: 1 Member
in I Am a Caregiver (General Topics)
My beloved husband is showing signs of cognitive decline. I'm dealing with the emotions and "what-ifs" throught therapy. I'm posting this duen to practical questions:

- My 69 year old husband's work is our only source of income.
- If he loses his job due to dementia how will we get by? We have no savings and rely on SS, which supplements dh's generous income at this point.
- We can probably live on SS alone but it will be very difficult.
- Might his employer offer long-term disability?
- I cannot believe that no one qualifies for SSDI if they are over 65!

If anyone can share any options, suggest next steps, etc., I will be most grateful!

Comments

  • PlentyQuiet
    PlentyQuiet Member Posts: 120
    100 Comments Third Anniversary 25 Insightfuls Reactions 25 Care Reactions
    Member

    SSDI is for people to be able to collect their SS income before eligible so it makes sense that if they are over 65 they can just collect regular SS.

    DH was diagnosed at age 61, received SSDI. He will turn 65 this fall and will be switched over to standard SS, with no change to benefits.

    SSDI will not give additional income.

    Talk to an elder law attorny (CELA) to discuss options and strategies

  • H1235
    H1235 Member Posts: 1,163
    1000 Comments 250 Care Reactions 250 Insightfuls Reactions 250 Likes
    Member

    Welcome. I would talk with an elder law attorney. Not only for financial advice, but you will want to have a durable power of attorney, will and living will. You may qualify for Medicaid. Each state is a bit different. I’m not sure how a dementia diagnosis might affect qualifications. I have attached a staging tool that is very helpful.

    DBAT.pdf
  • SDianeL
    SDianeL Member Posts: 2,103
    500 Insightfuls Reactions 500 Likes 1000 Comments 500 Care Reactions
    Member

    Welcome. Sorry for the reason you are here. I found this online but you should speak to his HR Dept and to an attorney as others mentioned. .“For a 69-year-old with dementia, obtaining long-term disability (LTD) from an employer can be complicated by age and the terms of the specific insurance policy. Most employer-sponsored LTD policies stop paying benefits once a person reaches retirement age, which is often 65.”

Commonly Used Abbreviations


DH = Dear Husband
DW= Dear Wife, Darling Wife
LO = Loved One
ES = Early Stage
EO = Early Onset
FTD = Frontotemporal Dementia
VD = Vascular Dementia
MC = Memory Care
AL = Assisted Living
POA = Power of Attorney
Read more

Community Guidelines


Click here to review the ALZConnected Community Guidelines

Categories