Frequently Asked Questions
The purpose of this document is to help answer some of the most commonly asked questions regarding the financial assistance programs (FAP) offered by Masonic Financial Assistance Corporation (MFAC). If there is a question which is not answered or is not clear, please feel free to request additional information.
Summary: The financial assistance programs were created as a means of assisting in the care of worthy and distressed Master Masons, their wives, widows and family members. The source of the funds for these programs are endowment funds set aside over many generations by the contributions of many generous Masons. The annual earnings of the endowment fund are used to provide continuous financial support to our organization and individuals requiring assistance.
Questions- Who is eligible to apply for assistance from MFAC?
- How do you determine who might need financial assistance?
- How much money would I need to have to avoid having to go through the review?
- Do I have to give you everything I have to live there?
- I have plenty of money, why do I have to go through the financial review now?
- What is this financial review?
- How much time will this review take?
- What happens during and after the review?
This Section of questions pertains to some of the specifics of the financial assistance program guidelines. There are two specific time periods involved with those residents predicted to need financial assistance.
This is the period of time beginning when you move in until such time as your resources are no longer sufficient to pay your own way without assistance from MFAC. This time period could be months or years depending on your specific situation. The questions below are in regards to some of the most commonly asked questions about this period. Borrowing terminology from Medicaid, this is sometimes referred to as the “Spend Down” period.
Questions- Are there limits on how I spend my money?
- Can I incur debt?
- Can I keep my life insurance?
- Can I keep my bank accounts?
- What about my health insurance?
- What about my pets?
This is the period of time beginning when your personal assets have been exhausted and you are no longer able to provide for the costs of your residency from your personal resources. These questions pertain to the specific guidelines for those receiving financial assistance. These guidelines do not pertain to those paying privately. Please reference the above questions regarding paying privately.
Questions- How long can I stay on the campus if I run out of money?
- Can I incur debt?
- What expenses are covered under the Financial Assistance Program?
- What is my monthly spending allowance?
- What will I be required to pay for from my monthly authority? **
- What will happen to my monthly income such as Social Security and Pension?
- Can I keep my life insurance?
- What about my funeral/burial expenses?
- Can I keep my bank accounts?
- What about my health insurance?
- If I keep my health insurance how will I pay the premiums?
- Will the Financial Assistance Program pay for me to go to my doctor once I am receiving assistance?
- What if I need glasses or hearing aids after I am receiving assistance?
- Can I keep my own car?
- Can I accept gifts?
- Am I allowed to have a pet?
1. Who is eligible to apply for assistance from MFAC?
Currently, only Ohio Master Masons (with more than 5 years of service at the date of application), their wives and/or widows in addition to some family members are eligible to receive financial assistance. To be eligible for financial assistance, an individual must be a permanent resident on of the Ohio Masonic Home subsidiary campuses. In the case of widows or other family members, the sponsoring Mason must have been in good standing for the five years immediately preceding his death.
2. How do you determine who might need financial assistance?
Every applicant who seeks admission to one of our campuses is asked to complete a residency application. This application includes several questions relating to financial matters. When an application is submitted, we utilize a software program to accurately predict expected future costs and compare that to an applicant’s financial resources. Our prediction determines whether an applicant’s available resources ( income and assets) are sufficient to provide for the remainder of their expected lives. If there are insufficient income and assets, and the applicant is eligible, we require that a further financial review is completed by MFAC. We require this because our organization wants to ensure that we are able to provide care and support for many years to come.
3. How much money would I need to have to avoid having to go through the review?
There are several factors that go into the prediction to determine whether financial assistance would be needed. A person’s current age, income, expenses, assets all have a large impact on the prediction. Because our prediction is individualized based on many variables, it is impossible to determine a specific amount which would be necessary to avoid the process.
4. Do I have to give you everything I have to live there?
No, the old program known as “Asset Surrender” was eliminated in 1995. Under the current program, a resident pays privately from their own resources until their funds and assets are exhausted. Upon conversion to MFAC assistance, the Program makes up the difference between the cost of care and all available personal resources. It is expected that a resident will strive to preserve their available resources prior to needing assistance.
5. I have plenty of money, why do I have to go through the financial review now?
As mentioned above, all of our applicants must submit a residency application and a prediction is made for each person. Our prediction determines whether an applicant must apply for financial assistance. While your current assets may be sufficient to provide for your current care, there may not be enough to provide for the many years to come in our community. Since we are making a commitment, to the extent resources are available, to provide for your future care from the day you move in, we require everyone who does not have sufficient income and assets to apply before moving in. By doing so we ensure, to the best of our ability, that we are able to provide for your future care and that of many generations to come.
Here is an example to further illustrate:
The average life expectancy for an 80 year old female with minimal health problems is 9.1 years. Statistically, the maximum life expectancy approaches almost 20 years. If this person reached the average life expectancy, she could expect to have incurred approximately $300,000 in expenses between her 80th and 89th birthday. If she was fortunate enough to live to the far end of her life expectancy, she could expect to have incurred approximately $600,000 in costs. While this is intended only as an example, it shows that the true costs of aging are higher then the general perception.
6. What is this financial review?
The MFAC financial review process is very similar to that of the Medicaid program. We require a “five-year look back” which is essentially a comprehensive review of the previous 5 years financial history.
7. How much time will this review take?
Typically a financial review will be completed within a few days assuming all of the requested documentation is provided. If additional questions arise or the documentation is delayed, the process may take longer.
8. What happens during and after the review?
At the beginning of our review, a representative from the Masonic Financial Assistance Corporation will be contacting you to go over some of the details of the program and answer any questions you may have. During the review, you will work with this representative to gather all the necessary documents and complete the process. When the review is completed and a decision made, you will be notified via phone call and certified mail. Assuming your request is approved, you will continue to work with marketing staff regarding the move in process.
Private Pay Period Answers
1. Are there limits on how I spend my money?
Since a possible need has been determined in the future, it is important to strive to preserve your assets as long as possible through responsible measures. There are no limits with regards to how you spend your money, we only ask that you consider our prediction in your financial decision making process and make efforts to preserve your assets. There are guidelines in place regarding “Spendthrift Activity”. Spendthrift Activity is defined as; The expenditure of funds or other financial resources available to the resident which were used in an extraordinary or extravagant fashion. This includes divestitures of funds and other means of asset disposal, which is not part of a normal and customary lifestyle of the resident. An example of spendthrift activity would be prematurely divesting one’s self of considerable assets or living a lifestyle well above your financial means.
2. Can I incur debt?
Yes, while you are paying privately, you can maintain any credit accounts and incur debt. Keep in mind however that upon conversion to FAP assistance, debts must be satisfied and no additional debt may be incurred. It is also important to understand that any debt incurred takes away from available resources you may have remaining for your own care.
3. Can I keep my life insurance?
While continuing to pay privately we encourage you to keep your life insurance policies. If a policy has a cash value, it is considered an asset. As you get closer to exhausting your resources, we would expect you to cash in your life insurance policies prior to receiving assistance from MFAC.
If your policy has no cash value (Death Benefit only) it is your decision whether you want to continue that policy. Many people have chosen to use these types of policies as a means to purchase prepaid funeral arrangements. If you ultimately need financial assistance, MFAC will determine whether it is beneficial to continue paying the premium for this type of policy.
4. Can I keep my bank accounts?
Yes, while you are paying privately, you may keep all of your accounts open as usual. You will continue to pay all of your bills as you have previously.
5. What about my health insurance?
We will need copies of all medical insurance cards for our records. While you are paying privately, you will keep all of your Health insurance as usual. You are responsible for maintaining the payments for your insurance and all other medical costs. Once your assets are exhausted and you begin receiving financial assistance, we will typically maintain your same insurance coverage assuming it is cost effective. We are available for consultation regarding your current policies as we may be able to direct you to a more cost efficient or better plan.
6. What about my pets?
While paying privately, you may have pets assuming you meet all of the other requirements set forth by the campus where you have chosen to live. Keep in mind that should you need assistance while you still have the pet, you must be able to provide for the cost of maintaining a pet through your monthly spending authority. The Financial Assistance Program shall not be responsible for costs associated with any pets.
Receiving Financial Assistance
1. How long can I stay on the campus if I run out of money?
Although your Resident Agreement provides no guarantee of lifetime care, the corporation will endeavor to provide continuing care for you subject to the availability of its resources. You must comply with the terms of your Resident Agreement and the Financial Assistance Agreement to remain in the Program.
2. Can I incur debt?
Upon conversion to FAP assistance, debts must be satisfied and no additional debt may be incurred. This includes monies owed to any individual or company for any period of time. Examples include: Cell Phone contracts, Department store accounts, personal loans to others, etc.
3. What expenses are covered under the Financial Assistance Program?
MFAC will cover the following expenses to the extent that the expenses are determined to be appropriate, necessary and sufficient, and are not covered by available insurance or other resources:
- Room & board: In accordance with MFAC guidelines.
- Medical charges: hospital, ER, doctor & ancillary charges.
- Pharmacy bills: (limited to Prescription drug charges and medically necessary over the counter medications)
- Medical supplies (limited to medically necessary items as defined by MFAC)
Medical expenses shall be pre-authorized by the Medical Director and MFAC administration. Guidelines regarding items paid are subject to change with proper notice at the discretion of the Corporation.
4. What is my monthly spending allowance?
Currently, $90.00 per month is available for incidental personal care expenditures. You also have the ability to charge in the Gift Shop, Beauty/ Barber Shop and Dining Room. Your Spending allowance will accrue if not used to a maximum limit of $1500. These funds remain the property of Masonic Financial Assistance Corporation. (MFAC)
5. What will I be required to pay for from my monthly authority? **
Any personal charges, such as, but not limited to:
- Beauty & barber shop services
- Medical items not deemed to be “medically necessary”
- Phone service, including long distance
- Personal transportation
- Gift shop charges, including shopper charges and clothing
- Dining room/snack shop
- Newspaper & magazine subscriptions
6. What will happen to my monthly income such as Social Security and Pension?
You will continue to receive your monthly income however these resources will be remitted towards the cost of your care and other expenses incurred by the corporation on your behalf.
7. Can I keep my life insurance?
Life insurance policies with a cash value are considered assets, unless assigned for funeral expenses, the policies shall be surrendered and applied to the cost of your care.
For “Death Benefit Only” policies such as term policies, after converting to FAP assistance the beneficiary shall be transferred to the facility where you will reside or used to cover funeral expenses.
8. What about my funeral/burial expenses?
For residents who are receiving financial assistance, the Ohio Masonic Home offers a basic package including services and burial at our cost for those without previous arrangements.
If you have not prepaid your funeral/burial expenses, you may use your current funds to make arrangements at a reasonable cost. (Usually less than $6000). If you have any questions about this please contact us for more information.
9. Can I keep my bank accounts?
In most cases, we will ask that your current accounts be closed. In some cases, a new account will be opened in order to better manage the receipt of your income and payment of your expenses.
10. What about my health insurance?
You will need to bring your current medical insurance policy to MFAC administration for review. In most cases, we will maintain your health insurance.
11. If I keep my health insurance how will I pay the premiums?
MFAC will pay your health insurance premiums once your assets are exhausted if we determine that the policy is advantageous to maintain.
12. Will the Financial Assistance Program pay for me to go to my doctor once I am receiving assistance?
Yes, MFAC will pay for fair and reasonable charges for doctor visits and any referrals to consulting physicians and ancillary service providers, to the extent these charges are not covered by insurance or other available resources. The MFAC administration shall determine whether charges are necessary and appropriate.
13. What if I need glasses or hearing aids after I am receiving assistance?
If these items are approved by the MFAC Administration, they are covered for payment under the Program, to the extent these charges are not covered by insurance or other available resources. MFAC follows the same criteria as Medicaid with regards to glasses, hearing aids and other equipment.
14. Can I keep my own car?
Since your vehicle is considered an asset, you shall sell your vehicle(s) and remit the net proceeds towards the cost of your care.
15. Can I accept gifts?
Typically, you may keep nominal gifts (less than $50 value). Gifts of significant value must be brought to the attention of the Business Office and may be applied to the cost of your care.
16. Am I allowed to have a pet?
If you are living in an apartment or patio home you must meet all the rules of the campus regarding pets. All costs associated with the pet must be paid for through your monthly spending authority. ( Keep in mind food costs, any damage caused by the pet and any costs for Veterinary services) The Financial Assistance Program shall not be responsible for costs associated with any pets.
For more information on eligibility and how to apply for financial assistance, contact the MFAC office at 937-525-4985 or toll-free at 800-564-9016, or via e-mail at FAP@ohiomasonichome.org.
