There are many different choices available for seniors to age with choice and receive the level of care they need. Some seniors may find that in-home care provides them with the attention they are looking for, while others may feel more comfortable downsizing to avoid risks like steps and other potential fall hazards, while others may feel more comfortable moving into a community like a senior personal care home. Unfortunately, many families are faced with financial issues associated with paying for senior care that increase stress and reduces their ability to make the best choice for their loved one.
In the previous blog, we discussed the importance of long term care insurance. This choice can help reduce financial stress for the family and senior. At the same time, long term care policies may only cover care received at a skilled nursing facility, while not paying for personal care, assisted living, homecare and other desired services. A family does not want to be faced with this financial predicament and should consider financial and legal planning along with frank discussions with their loved one prior to the time of need. How should a daughter, son, friend or spouse approach this often difficult discussion? Here are some pointers:
- Sit down with the loved one and ask them if they have made legal or financial provisions for possible care or changes in their lifestyle during their senior years.
- Ask your family member what type of care she can envision in the future e.g. would she be comfortable living in an assisted living or personal care facility, would she like to receive extra help at home, would she consider moving at a later date.
- Often this is a difficult discussion that may be avoided by the senior. You could take a different approach and ask them how care was provided for your grandparents. What are their viewpoints of that specific type of care?
- Ask your family member about a close friend’s approach to planning for their retirement.
- It may be helpful to involve an outside expert like a geriatric care manager who will be neutral and skilled in discussing ways to plan for the future and ways to budget for these needs.
- Recommend that family member budget’s for their retirement by utilizing an IRA or other type of retirement fund.
- Recommend a book to read about this topic and/or recommend websites. It would be helpful for you to also become educated in these choices.
- Planning prior to an emergency or time when your loved one may need to change their living arrangements is the best approach to this often difficult subject. It is best if the choice is made by the senior and not left to family members who may disagree, not want to make these difficult decisions or become involved in paying for the care needed.
For more information on how to pay for senior care services, call Abramson Care Advisors at 888-340-0080, free 24 hours a day, seven days a week to speak to an experience senior care consultant.