For most U.S. seniors, growing old has its challenges. For many, struggles with health and finances can dull the luster of the so-called “golden years.” Aging in the Bronx is no exception and may be one of the most challenging boroughs for elderly residents in New York City. But beyond this reality lies an accessible solution for seniors, especially for those who may need long-term home care. A Pooled Trust offers a viable solution for seniors to help them qualify for community Medicaid when excess income prevents them from receiving home care benefits.
Challenges for seniors living in the Bronx.
According to a recent government report on older New Yorkers, the Bronx has increased its elderly population by over 5% since the year 2000. Unfortunately, among the five New York boroughs, it has the lowest median household income and highest poverty rate for seniors 65 and older (29.7% in 2023).
Sadly, these statistics contribute to unfortunate health realities for the elderly in the region. Economic stability, living conditions, and social factors affect the mental and physical well-being of senior citizens and their ability to receive home care. For example, only 31% of elderly adults living in NY households that fall “below 100% of the federal poverty level reported good or better than good health.”
Nearly half of the Bronx’s 65 and older population (47.6 percent) have a disability. This represents the highest rate of NY’s boroughs, and the only one above 40 percent of its senior population. In addition, this borough also ranks number one in the highest prevalence of Alzheimer’s at 16.6%.
The 2024 annual health report by Robert Wood Johnson Foundation and University of Wisconsin ranked Bronx County 62nd in terms of health among NY’s 62 counties. And according to recent County Health Rankings, the health outcomes in this county are worse than the average NY county.
How a Pooled Trust can help seniors needing home care.
As health declines and the inability to care for themselves increases, many seniors prefer to stay in their home while receiving care. But the growing costs of home health care and not qualifying for Medicaid, can be devastating for seniors who want to remain in their home.
If you’re facing this situation, there is a way to receive the care you need without emptying out your savings account or paying part of your pension income into Medicaid. Even if your income is deemed too high to qualify for Medicaid, KTS Trust can help you maintain your independence and quality of life at home.
Joining a Medicaid Pooled Income Trust can help you maintain financial security while letting you stay comfortable while receiving care at home in the Bronx. By placing your excess income into a pooled trust, you won’t have to “spend down” money to become eligible for community Medicaid home care services. At the same time, the pooled trust protects your income and pays your monthly bills.
Here’s how KTS Pooled Trust can help you get started in your quest to receive Medicaid home care benefits:
- FREE No Obligation Consultation. By talking with you and understanding your unique situation, needs, and concerns, we’ll help you to determine if a Medicaid Pooled Income Trust is right for you.
- Medicaid Guidance. If you’re new to Medicaid, or if your current benefits don’t meet your home care needs, we’ll take you through the application process, help gather documents, complete forms, and answer your questions along the way.
- Situation Assessment. We’ll look closely at how your surplus income could be preventing you from getting home care benefits. At the same time, we’ll show you how transferring your excess income into a trust can help you meet your home care needs while keeping your hard earned income intact.
- Easy Enrollment. Once a pooled trust is determined to be the right fit for you, we’ll help you enroll quickly and smoothly. We handle the paperwork and set up your personal account in the trust for you to begin managing your monthly expenses ‒ stress free.
- Continued Support. The KTS customer support team is dedicated to providing first class service and is always ready to help. We offer ongoing support that continues from the moment your account is set up and every step of the way with reliable services including: 24/7 online access, ACH direct deposit, and automatic bill payments.
We’re ready to serve you. So, if you’re ready for a consultation that costs you nothing for a one-stop stress-free solution, here’s how to reach us:
- KTS General Information: 718-412-4040
- KTS Website: https://ktstrust.org/contact-kts-trust/
Other helpful resources for Bronx seniors.
As the northernmost borough of NY City, this community-oriented region boasts the New York Yankees, Bronx Zoo, and so much more. From Wakefield to Hunts Point, from Morris Heights to Country Club, the Bronx also provides a plethora of resources for seniors.
Here are some of the highlights:
- Senior Centers – Explore local senior centers offering support, services, and activities to older adults in the Bronx at Senior Centers.
- Alzheimer’s Care – Learn what resources are available for those living with dementia and Alzheimer’s Disease including home care options and other long-term care. Call 311 or 212-NEW-YORK (212-639-9675) or learn more here.
- Medicaid Offices – There are two Bronx Medicaid office locations:
- Rider Community: 305 Rider Ave., 4th Floor, Bronx, NY 10451
Phone: 718-585-7872 Mon – Fri 8:30am to 5:00pm - Fordham: 2541-2549 Bainbridge Avenue, Bronx, NY 10458
Phone: 929-252-3230 Mon – Fri 9:00am to 5:00pm
- Rider Community: 305 Rider Ave., 4th Floor, Bronx, NY 10451
