If you find yourself in need of emergency cash to pay for elder care, Max Cash Title Loans may be able to assist you! 2 We’re the premier loan referral service in America, and we can help you find a fantastic deal on an auto title loan. 4 To find out how our financial services could work when you need cash to care of a loved one or yourself, apply for an online title loan straight away!
To find out more about title loans. And other emergency cash option to pay for elder care, and how they could help in an emergency, keep reading below.
Social Security Income as Emergency Cash to Pay for Elder Care
Retirement benefits from social security will cover one-third of your independent living and medical expenses, but they can. According to the bureau of labor statistics, the average retiree over age 65 spends over $46,000 annually or nearly $4,000 per month. The average social security retirement benefit for 2019 is $1,461 per month or $17,532 annually.
Government Programs That Can Emergency Cash to Pay for Elder Care
Utilize government programs to bridge the gap between your expenditures and income. There are senior particular government programs available at state and national levels, as well as with local area agencies. Three of your significant expenses after retirement are home, food, and health care costs.
Here are just a few of the programs available to seniors nationally that could help cut those prices.
Housing Assistance Programs
- The U.S. Department of Energy’s assistance program assessing the appliances in your house to make them more energy-efficient. The average household saves $283 annually on electricity. Preference for eligibility is given to individuals over the age of 60, and households with one or more members with a handicap. Utilities and general upkeep are things you are going to have to deal with, even when you’ve paid your mortgage off.
- If you are having trouble with a lease, research the housing choice vouchers program. Formerly called section 8, this program provides subsidies to low-income households and the elderly to help cover rent.
- You do not need to be a sage to know that older adults spend more on healthcare than any other age category. But just how much they invest frequently comes as a surprise. Approximately 40% of retirees report that their health care needs in retirement are more significant than they anticipated, according to the retirement confidence survey was done by the employee benefit research institute.
- Retirees over the age of 75 invest 15% of the budget on home health care costs. Here are a few programs designed to aid seniors with the cost of personal care services (i.e., respite care, nursing facilities, nursing home):
- Medicare is the primary health insurance for senior citizens, and it comes in three parts.
- Part A, which covers hospital stays, is free for those who have paid social security for at least ten years. Part B covers outpatient services, like doctor visits and rehabilitation. The premium for part b is $135 per month, with a deductible of $185 a year. After meeting the deductible, you will usually pay 20% of the Medicare-approved amount for most services. Part D covers the costs of your prescriptions. The monthly premium for Medicare part d in 2019 is $33.19.
- If you are struggling to pay your premiums, you may qualify for long-term care or Medicare savings programs. Approximately 20% of Medicare enrollees are also enrolled in a Medicaid program. Medicaid is a medical care program for older Americans with minimal financial resources. Eligibility requirements vary by state, but if you are eligible for SSI, you also need to qualify for a Medicaid waiver.
- The supplemental nutrition assistance program, better known as snap, helps low-income seniors with markets by giving monthly stipends. To be eligible, you must show proof of limited resources and income. The maximum gross monthly income is 130% of the federal poverty level, which is $1,353.
- Another vital eldercare program to assist with food prices is the senior farmers market nutrition program (SFMNP). The SFMNP offers low-income seniors with coupon booklets to be used at participating farmer’s markets and food stands. These vouchers are to be used for fresh and organic produce. You can’t use them for dried or canned goods.
- However, if canned yams are more to your liking, the emergency food assistance program (TEFAP) can help. TEFAP provides many foods to low-income families, like fresh and canned vegetables and fruits, together with dairy and meat products.
- For retirees looking to re-enter the workforce, the Senior Community Service Program pays anybody over age 55 the minimum salary to work at community care or government agencies. SCSEP offers training for a variety of tasks from teacher’s aide to a computer technician. You can even use the skills you acquired during your work life to pursue other career opportunities.
Apply for a Title Loan with Max Cash Title Loans to Get Emergency Cash to Pay for Elder Care
Auto title loans, also known as car title loans, are secured loans that put a lien on your vehicle title, making your vehicle function as a kind of collateral. To qualify for one of these loans, you’ll have to fulfill some requirements.
- Government-issued photo ID
- Proof of residence
- Proof of income
- Three references (private and/or professional, should be of no relation to you)
- Social Security card
- Free and clear vehicle title
- Car insurance policy
How to Apply with Max Cash Title Loans
At Max Cash Title Loans, we have a loan process designed to be quick, easy, and secure. You can also finish the process, including getting your money, from the comfort of your sofa! 1 2
Here’s what the process typically looks like:
Complete and submit our online application
To help determine your pre-approval, we’ll only ask a few basic questions about both you and your automobile. Soon after submitting your application, a Max Cash Title Loans loan broker will contact you and tell you when you’ve passed pre-approval. In case you have, we’ll go through the numerous title loan companies we work with and locate the ideal loan company for you. 5
Get approved 5
When you have been approved for an auto title loan, your lender will go over loan conditions with you. Your loan provisions include your interest rates, monthly payment, loan length, and loan amount. 4 Then, you simply have to sign a loan agreement with your lender.
Get your quick cash 1 2
Once you have signed your loan agreement, it’s time to get your money. You could have the funds deposited directly to your bank account if you’d rather stay in your own home. At Max Cash Title Loans, we seek to get you your cash assistance on the same day you apply or once the very next working day. 1 2
Start with Max Cash Title Loans and Get Emergency Cash to Pay for Elder Care 1 2
Max Cash Title Loans is here to help our wonderful customers find an incredible deal on an auto title loan.4 5 finding financing, mainly when it’s an emergency, can be complicated and overwhelming, let’s do the hard work for you, at no cost!
To start your new financial journey, go ahead fill out an application for an online title loan today!