Budgeting For Elderly Care

Uncategorized  |  August 8, 2017

One of the best things to do is to sit down as far in advance as possible and think about how you may pay for the care.  You may start with a pension or savings that your parents have.  From there, coming up with a probable amount and then developing a plan is your next step.  You may be able to put some money in a fund that will yield a return.

It’s important to realize, though, that when you hear people talking about the debilitating cost of elderly care, they are talking about options such as nursing homes or assisted living. However, home health care is an alternative.  Not only is this is a less expensive alternative, but it is also scalable.  You can arrange packages that meet your needs, such as:

•         Company and light assistance a few hours a week, including, optionally, transportation.
•         Assistance on an everyday basis, including household chores.
•         Around-the-clock care

Help For Elderly Care is Available

Another thing to consider is that you don’t need to go it alone and try to just pay out of pocket.  There are, in fact, quite a few programs set up to help the elderly receive and afford the care they need.

• Medicare- This well-known federal program does apply to senior care in some circumstances.  If your loved one is in need of shorter-term care after a hospital stay.  The program covers the cost of some durable medical apparatuses for home use; it does give 100 days of nursing care coverage.
• Medicaid- Medicaid is a state program and it does give some coverage for elderly care, filling in largely where Medicare leaves off.  It provides some coverage for nursing home stays and for in-home care.

There are also programs for elderly who are veterans.

The good news about the considerable financial expense of elderly health care is that there are a lot of options with great flexibility.  Comfort Keepers provides high quality in home elderly care, including lighter levels of care that, consequently, are less expensive.  Whatever your needs are, research the costs of various types of care in your area.  Then, contact us to see how we can help you and your loved one.

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