5 Ways You Can Plan for Long-Term Care Costs and Needs

Photo Courtesy of Unsplash

Photo: Courtesy of Unsplash

As we grow older, our health care costs tend to get a bit higher. When you or a loved one needs help from a nursing home or assisted living facility, the costs can be overwhelming. Here are a few ways you can offset those expenses and plan for long-term care before you even need it.

 Figure Out Whether Care Will Be Needed

When you are planning ahead for your health care, it helps to know whether long-term care may be needed. Statistics show the majority of seniors will need some sort of extended care at some point in their lives. Family history can have a lot to do with your need for care, especially if there is a history of Alzheimer’s disease on your mother’s side of the family. Falls can also cause seniors to need long-term assistance, so try to take steps to help yourself or loved ones age in place safely and avoid fall-related injuries. Finally, take care of your health by eating a clean diet and exercising on a regular basis.

 Use Medicare to Your Advantage

Medicare is a wonderful tool for seniors to rely on when it comes to their medical needs. But if you or a family member ends up needing long-term care, basic Medicare may not yet help you when it comes to covering the costs. The good news is, however, that there are several supplemental Medicare Advantage plans that can offer more help with prescriptions, vision care, and dental care, and by saving on these expenses, you can tuck more funds away to provide long-term care. if you are currently eligible for Medicare or are nearing the age of eligibility, it’s important to get a better understanding of how to navigate some of the vital Medicare open enrollment dates, so read up on those first and plan ahead of time.

Understand Long-Term Care Insurance

If you are only planning for long-term care needs, then you may want to look into information about long-term care insurance. Getting this sort of supplemental coverage can be a bit expensive, but it can give you peace of mind if you are worried about you or a loved one needing care. Long-term care insurance typically costs less if you are younger and in good health, so start planning for this coverage option early to get the best deal. Otherwise, your rates will go up as you get older, particularly if your health begins to decline.

Know How to Use Benefits and Other Insurance

For adults who have served in the military, long-term care costs may be covered by the benefits provided by the VA. Eligible veterans and spouses can cover their care costs through pensions and possibly by adding the Aid and Attendance benefit. You may also be able to use life insurance policies to cover care costs as well. Many policies allow you to cash out or sell your life insurance to get the cash you need. This option can come in handy when the need for care comes up suddenly.

 Look Into Home Equity Options

Another way to pay for unexpected expenses associated with long-term care is to use the equity built into a home. If you or your loved one will make a permanent move, the most beneficial option may be to sell it and use profits to pay for care. For individuals who need to remain in their homes, there are still viable options to get the extra funds they need. You can take out a home equity loan or look into a reverse mortgage. Reverse mortgages come with the added benefit of not having to make monthly payments, but the house will be turned over to the lender when the owner passes away.

If you or a family member is in need of long-term care, the last thing you want to think about is how to pay for it. Finding quality care should be your top priority. By planning for costs now, you can focus on getting the care you need without worrying about how to pay for it.

Post contributed by Dana Brown at HealthConditions.Info
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Assessing and Planning for Long-Term Care Needs: Knowing Your Options

Assessing and Planning for Long Term Care

Courtesy of Pixabay.com

The high cost of long-term care represents a serious threat to individuals as they grow older. It’s a problem that’s staring many baby boomers right in the face. The generation born between 1946 and 1964 is rapidly aging and many will need assisted living, nursing home and other forms of care.

Considering the costs involved, it’s vital you determine how likely it is that you or a loved one will require long-term care based on factors which can impact your health. It’s even more important to begin planning how you’ll fund the expense of long-term care. Taking action sooner rather than later can make a big difference in your health, lifestyle and financial situation.

Planning

The choices you make today can have a tremendous impact on your life 20 or 30 years from now. If your doctor has advised you to get more exercise and watch what you eat, following her advice can markedly improve your health and reduce the likelihood you’ll need long-term care. If your job is highly stressful, taking steps to deal with it, perhaps through exercise, yoga and meditation, may represent an important and positive lifestyle change. Anything that reduces your risk of developing cardiovascular disease, obesity, diabetes, cancer and other serious health care risks will likely help you avoid needing long-term care in the coming years.

If Alzheimer’s disease is common in your family or if there’s a history of heart disease or cancer in your genetic background, it’s probably in your best interest to begin planning ahead for long-term care. There are more options available these days, such as assisted living, home health services, adult day care, independent living and hospice care, and many ways you can prepare for assuming those care costs.

Paying

There are several factors to consider when it comes to paying for long-term care. If you’re in your 50s, consider taking out a long-term care policy (some financial planners advise doing this earlier). Or, if your employer has a health savings account (HSA) option, you can make contributions that are fully tax-deductible and use the earnings later to help fund long-term care. An HSA, unlike a flexible spending account, rolls over from year to year and its growth is tax-deferred. It is a savings account specifically designed to help you pay for medical expenses.

Many people use a reverse mortgage to free up money for long-term care. A reverse mortgage allows you to borrow against the value you’ve accumulated in your home, and your lender makes payments to you computed based on a percentage on your home equity. Credit requirements are modest, and you can remain in the home even if your debt exceeds the value of your home. Be aware of the pros and cons of reverse mortgages. For example, your debt will increase while your equity goes down. The equity that would become part of your estate will decrease as you receive payments, and you are not the owner of your home.

A life insurance policy that generates cash value can also provide you with a funding source. You can sell a policy to generate revenue for medical expenses, “surrender” it to your insurer for a cash settlement, or make advance use of your death benefit (any amount used will count against your beneficiaries after your death).

Learning your care and payment options early and preparing for long-term care is highly recommended by financial advisers. That means it’s important to assess your needs, financial situation and consider how you might fund long-term care.

Author

June is the co-creator of Rise Up for Caregivers, which offers support for family members and friends who have taken on the responsibility of caring for their loved ones. She is author of the upcoming book, The Complete Guide to Caregiving: A Daily Companion for New Senior Caregivers.

How to Transition From Part-Time Caregiver to Full-Time Caregiver

Article Courtesy of Kristen HellerThe Transitioning Caregiver

Taking care of a loved one is a job that is not to be taken lightly. For some, caring for their aging parents is an honor; while others may see the responsibility as a burden on their adult lives. This responsibility can come on quickly due to an accident or injury; but in many cases, caregiving can come on gradually as parents become less mobile and dependent on other people. If you find yourself spending more and more time caring for your aging parents and believe that full-time care is just around the corner, here are some ways to help you transition from part-time to full-time caregiver so that you can make the most of your time with your parents.

Review Your Routine

While your current caregiving situation might mean that you “pop in” to see mom or dad on the weekends, clean the house, and prepare some meals for the week, you might want to start adding additional time here and there. Rather than thrust yourself into a full-time caregiver, allow yourself some time to acclimatize to the changes that are coming and start slow. Start dropping in to see your parents a few times a week, spread out throughout the week. Change it up a bit with drop-ins at breakfast, lunch, or dinner, weekdays and weekends. This way, you’ll start creating space in your schedule for a new routine down the road.

Put Some Money Away

Taking care of a loved one is time consuming – it is time away from your job and perhaps even your own family. Because caring for a parent can quickly become a full-time job even before you intended it to be that way, it’s a good idea to start putting some money away now to help you cover your cost of living when you transition from part-time caregiver to a full-time caregiver. This is especially important if you parents don’t have savings or if they have no real means of paying for care to see them into their late years. However, if you do your homework before taking on the role of caregiver, you’ll find many programs, such as CDPAP, which are designed to help cover the cost of caregiving for seniors. You can get paid as a full-time caregiver with programs like this, so it’s best to research them early on in preparation for full-time care.

Keep Something for Yourself

If you find yourself having to give up your part-time or full-time job to start caring for your aging parents or family members, it is important to ensure that you continue to maintain some form of self-care so that you can stay healthy. After all, you cannot care for someone if you are sick. It’s important to remember to take time for your life. Make time to have coffee with friends, even if it’s just once a week. This way you’ll have a routine of your own and will be able to step outside the house to get breaks when you need them. Create a morning and bedtime routine for yourself that allows you some time to focus on your needs so that you can provide full-time care for your family when the time comes.
Plan for Backup

Despite your best intentions to provide full-time care for your aging parents, you will need some backup from time to time. For instance, you need to buy groceries, run errands, get a haircut, visit friends, go to your own doctor’s appointments, and so on. So it will be a good idea to speak to other family members, or maybe even neighbors to ensure that when you can’t be there, or you need a much-needed break. Speak with them about routines, schedules, and times when you might need a day off. You may need to offer payment to some people when they fill in for you so be sure to plan for that as well.

Start Slowly

When it comes time to make the move from part-time to full-time caregiver, gradually increase the number of days you spend a week looking after your loved one. Give yourself plenty of lead time to be able to take on the full-time responsibility. As for your existing job, you may be able to take leave in order to care for your parents, so be sure to discuss it with your employer and give plenty of notice to cover for your position while you are away.

Kristen Heller is a passionate writer, teacher, and mother to a wonderful son. When free time presents itself, you can find her tackling her lifelong goal of learning the piano.

Are Your Elderly Parents Keeping Any Secrets?

10 Common Secrets Kept by Aging Parents

Secrets That Elderly Parents Keep From Their Family

Most seniors pride themselves on being independent.  They spent most of their lives not only taking care of themselves, but also raising their own children.  Therefore, it’s no surprise that they may want to keep things private if they feel it will show their vulnerabilities.  Maybe they are not as organized, becoming forgetful, or even more serious things.

It can be difficult to ask for help, not to mention the lingering fear of being declared incapable of caring for yourself by your family.  No one wants to have their driving privileges  taken away, or even worse… be taken away from their home and forced into assisted living or a nursing facility.  As a result, seniors might think it harmless or in their best interest to downplay the severity of a situation or simply omit the situation all together.

Read the full article (10 Secrets that Aging Parents Keep) by AgingCare.com, which provides some of the most common “intentional omissions” that seniors might not disclose to their family members.

Source: 10 Secrets that Aging Parents Keep 

How a Primary Care Physician can Benefit Seniors

There are plenty of senior health articles to be found on the internet; however, rarely is the importance of coordinating senior healthcare ever brought up.

As seniors age, they will have many more doctors appointments with specialists, testing, and various other office visits related to vision, hearing, screenings, and more.  If there are underlying medical issues, the time spent at doctors offices will be even greater.

In order to help aging patients and their caregivers save time by not duplicating efforts, it is highly beneficial to have a “Primary Care Physician” as a central point of contact for all medical care.  This could be your local general physician or a geriatric doctor, many of which can make home visits.   The Primary Care Physician will coordinate all healthcare efforts for the aging patient.  By having this central point of contact, this primary care physician will know and understand all of the aging patient’s medical issues, testing that has been done, medications prescribed, and general well being, allowing them to better evaluate the appropriate medical care for the patient as a whole.  In addition, they can often help with prescribing appropriate medical equipment to assist the aging patient at home. Knowing the full details of the patient’s medical history will allow proper care and avoid unnecessary tests, treatments, medications, and office visits.

For example, if you went to a specialist for each condition separately, their staff will only know the medical details you provide to them.  By coordinating care through your primary care physician, you may still need to see specialists for various medical issues, but if tests are needed that may have already been done by a previous specialist, this will be known by your primary care physician and test results can be shared.

KYRSTEN MASSA PHOTO Shelter Island’s Dr. Nathanael Desire

KYRSTEN MASSA PHOTO Shelter Island’s Dr. Nathanael Desire

In general, it is a good idea to keep your Primary Care Physician not only in the loop, but as the main point of contact for all medical issues, so he/she can provide the most appropriate care based on the individual as a whole.

Read the source of inspiration for this article at “Doctors offer advice for the aging patient and their caregivers”

Source:  Julie Lane @ Shelter Island Reporter

How to Challenge a Nursing Home Eviction Notice

Nursing Home Residents - Eviction Rights          Do you know your rights when it comes to eviction from a nursing home?  “With better-paying Medicare coverage ending and being replaced by Medicaid“, evictions from nursing homes seem to be on the rise.  However, there are procedures that must be followed and rights that you have as a current resident.  This informative article posted by the New York Times includes an easy to read list of guidelines that must be followed by all registered nursing homes according to federal law.  Since most residents may be unaware of their rights, I am sharing this article in the hopes that it can help those who are or may be threatened with transfer or eviction.

Read the Article Here...How to Challenge a Nursing Home Eviction Notice, other Tips

Source: Tara Siegel Bernard and Robert PearThe New York Times

6 Insider Tips to Help You Plan for a Hospital Stay

Hospital stays for seniors and the elderly can bring upon feelings of anxiety and fear for the patient and the caregiver.  This does not have to be the case!  If you are informed and prepared, it will make the process much more bearable.  The best way to help alleviate your concerns is to have a good plan in place.

Home Care Assistance outlines six tips to help out with planning for your hospital stay.  The article covers important areas of what to expect before you go in for a procedure or surgery, how to make your stay a little more comfortable while you are there, and how to prepare for after care once discharged.

Read all 6 tips for Planning Your Hospital Stay…

Source:  Crsytal Jo / Home Care Assistance

10 Fun Activities for Moms with Alzheimer’s

Elder Depot's List of Activities for Mother's Day for those with AlzheimersMother’s Day is about honoring and celebrating mothers.  When you have an elderly mother or grandmother with Dementia or Alzheimer’s Disease, Mother’s Day shouldn’t just be about purchasing and dropping off a gift; but rather creating lasting memories that you can remember and cherish with your mother.  Elder Depot wanted to share our list of simple, easy things that you can do to bring some happiness to your mother’s life on this special day and create a wonderful memory.  The good news is that most of these suggestions are free and only require sharing a little of your time!

Activities can vary depending on the stage of Alzheimer’s, so we tried to create a variety of common and simple things that you can both enjoy.  The most important thing to remember is that you will one day cherish and be thankful for all of the moments that you spent with your mother – taking the time to show you cared.

10 Things To Do on Mother’s Day

  1. Have lunch or dinner together.
    If mom is in a nursing or assisted living home and unable to leave, cook up a quick meal or pick up a pre-made meal and sit with her while eating so you can enjoy the moment together
  2. Celebrate as if it were her birthday.
    Put a single candle in a cupcake or piece of cake and sing her “Happy Mother’s Day”
  3. Take a walk or sit outside together.
    If the weather permits, bring your mom outside for a walk or just some fresh air and sunshine (Vitamin D) and bring up some old memories! If mom is in a facility and physically able, ask to borrow a wheelchair or transport chair to wheel her outside for a short time.
  4. Have an old fashioned beauty day.
    How about a nice pedicure! Paint mom’s nails or put some curls in her hair and show her how good she looks in the mirror!
  5. Look over some old photos.
    Conjure up some memories of familiar faces or times by showing an old photo album or memorable photos. Maybe even do a little Scrapbooking.
  6. Sing some old church hymns or familiar songs.
    If your singing skills are not up to the task, listen to some old familiar tunes together. Encourage mom to sing along and you might get a surprising response!
  7. Put together a simple puzzle.
    Puzzles with larger pieces are easier to see and handle and those with brighter colors may draw more interest.
  8. Bring the family dog for a visit.
    If your family dog is friendly and calm enough for mom to be comfortable around, bring the dog over for some one-on-one contact. If mom is in a facility that will not allow pets, see if you can take the dog to her in the lobby or bring your mom outside to spend some time with the dog – animals can be very therapeutic!
  9. Watch an old movie together.
    Pop in an old favorite movie, like the Sound of Music!
  10. Enjoy some gardening.
    If your mom used to enjoy gardening, let her sit outside with you and watch you do some of the gardening. If she is in a facility or this is not possible, bring in some flowers from your garden and cut the stems and organize the vase with your mom and she’ll have a beautiful home-made bouquet.

We hope this list provides you with some useful suggestions to make your Mother’s Day special. The most important thing to remember is to spend some quality time with your mother on Mother’s Day. Its not about the best gifts, but about the memories you will have for years to come.

From all of us at Elder Depot, we wish you and your family a very Happy Mother’s Day!

We welcome your Comments or Suggestions for future articles! Please email us by Clicking Here.

Independent Living vs. Assisted Living.
Which is right for my loved one?

As our parents or elderly loved ones age, they have numerous options when looking for the perfect place to spend their golden years. Of course, many remain in their homes. Some are looking for an easier way of life, free from the daily chores that homeownership requires, while others seek out the company of people their own age, with opportunities for socializing and daily activities. Still others require assistance with daily living, such as managing medications, dressing and bathing.

If your loved one can still do everything for themselves and would like to live among peers and enjoy scheduled activities, independent living communities – also called retirement living – are an excellent option. They offer a safe, secure and social environment for active, independent seniors.

Seniors in independent housing may live in an apartment, a small home, or a cottage. These communities usually have on-site staff members that provide a small amount of supervision and offer a “maintenance-free” living option, often providing housekeeping, laundry and dining services.

Independent living is perfect for people who:
• Want to maintain their independence.
• Want to rid themselves of the burden of cooking, cleaning and maintaining a home.
• Want more social interaction than living at home.
• Like the security of being around other people and getting some supervision from the staff.

If your loved one is still able to move about freely and is seeking a certain amount of independence, but needs help with some daily activities such as bathing, preparing meals, taking medication, or dressing themselves, an assisted living community may make sense. Residents of an assisted living community live in their own apartment and are able to come and go as they please, while receiving assistance as needed. They can dine with others in a dining room or make their own meals. Quality senior care living communities offer a variety of daily activities to choose from. At an assisted living community, your loved one will still have independence while getting the care and services they need to lead a fulfilling life.

An assisted living facility may also be able to help if your loved one still has certain cognitive abilities, but is beginning to show signs of dementia that could result in isolation, frustration, or forgetting critical tasks such as taking medication. Communities that have “memory care neighborhoods” have caregivers who receive specialized training in memory care along with added security measures to manage residents’ safety. Memory care programs can also include brain fitness exercises, memory-building practices, and specialized therapy for residents living with dementia. If a resident begins to show signs of greater physical needs, the staff will begin to talk to the family about making the transition to a skilled nursing community.

In general, assisted living communities:
• Can provide direct assistance with everyday tasks, like bathing, dressing and meals.
• Have trained staff available and monitoring 24 hours a day.
• Help residents maintain their dignity while aging.
• May have specialized units for residents with Alzheimer’s or dementia.
• Can help with transportation to doctor appointments.
• Often have busy activity calendars to keep residents engaged with other residents.

If you want to ensure your loved one can stay in the same community as their needs change, look into a Continuing Care Retirement Community (CCRC). CCRCs allow people to remain in the same familiar and comforting environment even if their care needs change. If you’re looking for one community that you can call home even as your health changes, consider a CCRC.

About the Author:
David has over 20 years’ experience as a writer and editor. Senior issues have long been his passion, and in addition to past experience writing about maintaining a healthy outlook throughout every phase of life, he has volunteered his time and skills to such organizations as Senior Services of King County in Seattle. He is one of the many expert authors who is currently writing on behalf of Emeritus assisted living communities.

The Super Little Grandmom ~ Fighting Senior Boredom

This morning as I was driving to work I heard an interesting interview on the radio about ‘Super Mamika’. No, Super Mamika isn’t a copycat of Super Mario, it’s a series of themed photographs by Sacha Goldberger featuring his Hungarian grandmother in the role of a superhero. Mamika means ‘Little Grandmother’ in Hungarian, so the literal translation is Super Little Grandmom.

The story behind ‘Super Mamika’ is that Goldberger noticed that his grandmother, after a long active life, was becoming bored and depressed in her later years. Like many concerned family members he brainstormed ways to engage her, though the solution he came up with does stand out as being more than a little unique.

The ‘Super Mamika’ series of photographs were only the beginning for Frederika Goldberger. She has continued modeling for photographs as can be seen on her MySpace page.

www.myspace.com/frederikagoldberger

Fortunately you don’t have to be a professional photographer or even an artist to engage your elderly loved ones. It’s not only good for Seniors socially and emotionally but some studies have shown that mental stimulation “may” help slow the spread and lessen the symptoms of cognitive decline, as we’ve mentioned before. Of course, the more personal the better…apparently Frederika loves the humor of her Superhero counterpart…but here are a few general suggestions to get you going. Nothing quite as unique as Super Mamika.

  • Pictures: Looking at old family pictures together is one of the classic ways to engage Seniors. However, an often overlooked activity is showing Seniors unfamiliar pictures as well as familiar ones. Books of amazing photography  and picture heavy magazines like National Geographic can be very stimulating.
  • Card Games: Games like Bridge, Pokeno, and Pinochle are old favorites of many Seniors. Large print playing cards, card holders, and automatic card shufflers can enable individuals with dexterity or vision impairment to continue to play their favorite games.
  • Puzzles: Puzzles can captivate Seniors for hours, keeping their mental juices flowing and focusing their attention on putting together a stimulating image. For Seniors with dexterity or vision difficulties, it’s recommended to look for puzzles with Large Pieces. Large Print Crossword Puzzles can also be a great help. There are also puzzles designed specifically for those with Alzherimers, which you can See Here.
  • Book Clubs: Getting a Senior involved in a slower paced book club can do wonders for them both mentally and socially. If the book club is inter-generational, all the better…as long as they’re reading books that have large print editions available.

What activities have you used to fight Senior Boredom and Depression? Share them in the comments and I’ll add them to the list.