Getting Care As You Age

How to Get the Care You Need in Old Age.
Very useful guest post by Harry Cline.

Most Americans over the age of 65 will need long-term care at some point as they age. That could mean residing at a nursing home or seeking home care, both of which are among the wide variety of solutions available to meet the needs of the elderly. The problem is the costs, which can be frightening.

A private room in that aforementioned nursing home? That runs an average of over $8,000 a month, while a home health aide would set you back over $4,000. In some extreme cases, the total price of such support and services grows into the millions. Wow.

So, what’s a financially-responsible person to do in the face of such financial challenges? Plan. Here’s a breakdown on how to assess your basic needs and pay for care.

Do Your Research

The first step is learning what services are available. The most basic level is visits from friends and family or custodial care at home. There’s also adult day care, assisted living facilities and nursing homes. What you need depends on your level of health along with whether you suffer from a chronic condition and its severity.

Assess Your Health Risks

It’s tantamount to looking into the future. However, the likelihood of certain diseases can be gauged based on your lifestyle, current overall health and family history. If you have a parent, brother or sister with Alzheimer’s, for example, you are more likely to develop this form of dementia, and the same goes for some cardiovascular conditions.

Make Lifestyle Changes

The risk of falling ill can be reduced through exercise and a better diet. There’s no simple recommendation as far as what to eat, though Elders’ Helpers recommends nutrient-rich foods such as fruits, vegetables, legumes, beans and whole grains. As far as getting your body in motion, choose something you enjoy, whether it’s swimming, cycling or long walks on the beach.

Modify Your Home

This not only prevents injury, but allows you to stay there for longer and save money on costly assisted living and nursing homes. Some adjustments include installing railings on both sides of the stairs as well as automatic lighting to avoid nasty falls when you wake up in the middle of the night. You should also remove loose rugs and carpeting to enhance mobility and safety.

Now, we’ll move on to how to pay for all that. Bear in mind that the earlier you start, the better, and some options aren’t even available after retirement or a diagnosis with a severe medical condition.

Get the Right Insurance

Specifically, long-term care insurance. As implied by the name, it covers the cost of home care, assisted living and nursing homes, though the premiums can be high, averaging $2,700 a year, according to information cited by the AARP. That could be a worthwhile investment, though, if there’s a history of serious health conditions in your family.

Use Your Living Benefit

That means the living benefit rider in your life insurance, if you have one. If not, your insurer may be able to add one to your policy, in which case you would be able to draw from your death benefit to pay for medical expenses. Again, this could be a great option to have if you’re at high risk of chronic illness.

Put Money In Savings

Take this step before retirement with a health savings account. Both you and your employer make contributions, but the money stays with you when you’ve finished working. It’s tax-free when used for medical expenses, making it an attractive option along with high-deductible health plans.

Tap Into Your Property

You can do that via a home equity line of credit. This financial instrument allows you to withdraw money with your property serving as collateral, and offers a simpler alternative to a reverse mortgage, with lower associated costs. Both are common means of securing cash for long-term care, and which one’s right for you depends on your circumstances.

Planning for your care is not always easy, but you’ll breathe a sigh of relief when you’re done knowing that your future medical care is assured. Get started as soon as possible.

Image via Pixabay.

Every Day of Her Life

An excerpt to chew on from Zen Master Tova Tarantino Toshiba: The Illustrious and Delusional Abbess of Satire.

It is said that Master Toshiba created some rules to live by, which she practiced every day of her precious life.

Before dressing each morning, cough vigorously five times, stretch until you touch the ceiling and meditate upon the sky.

Go to bed late. Eat whenever you feel like it or when food is offered and never eat more than you can chew.

Never receive guests when you are in a foul mood and don’t visit others when you are upset, sad, or depressed. There is no point in having your negative emotions rub off on someone else.

Always say the first thing that comes to mind and don’t hesitate to let others know how you feel and what you think. Otherwise, how will anybody get to know the real you?

Seize every opportunity by the throat and don’t let go until you have derived some satisfaction and understanding of the situation.

Meditate on the past daily and try to figure out your past mistakes. When thinking of the future, make sure to plan ahead as much as possible, so you have some control over what takes place.

Keep the innocence of a child, the wisdom of an elder, and stand steadfast in what you know and don’t know.

Before retiring for the night, cough and stretch, walk quietly in a circle counter-clockwise for three rotations and always sleep with your head at the foot of the bed.

If you can’t go to sleep, drink a large glass of lime juice, repeat your bedtime routine, and go to the toilet before you lay your body down to rest.

More coughing and stretching at: Zen Master Tova Tarantino Toshiba: The Illustrious and Delusional Abbess of Satire.