Although it’s something most of us would rather not think about, there is a good chance that you will need some form of assistance after the age of 65. In fact, according to the U.S. Department of Health and Human Services, 70% of people turning age 65 can expect some form of long-term care in their lifetime.
Most people have the ultimate goal of living independently in their own home for as long as possible. And although most will need some form of help, that does not mean this goal is impossible. With the right resources, you or your loved ones can still achieve the independence and quality of life you all deserve.
In an effort to help lower the daunting costs that arise with age, there are thousands of state, federal and private benefits programs that seniors can take advantage of. Some help cover the costs of prescription drugs, while others are meant to help with things such as housing costs or utilities. BenefitsCheckUp is a free online service that can help you identify the benefits you qualify for to help cut the costs of everyday or long-term care.
A Place for Mom
Not just for mothers, this service helps connect aging moms, dads, or other family members to the right elder care services. This national search and referral agency can help with many tasks from finding a nursing home, to scheduling tours of adult communities and helping find ways to pay for senior care.
National Association of Senior Move Managers
This national association specializes in helping older adults and their families with the stress of downsizing to a new residence.
Certified Aging-in-Place Specialist
Should you or your aging family member choose to live at home instead of a continuing car facility, a Certified Aging-in-Place Specialist (CAPS) contractor can help make your home a safer place. This certification is given by the National Association of Home Builders to contractors who have completed the CAPS course.
Visit http://www.nahb.org/en/consumers/homeownership/aging-in-place-vs-universal-design/aging-in-place-remodeling.aspx for more information and to find a CAPS certified contractor in your area
Area Agencies on Aging (AAA)
Area Agencies on Aging are local organizations that you can call to get free information about the eldercare services in your area. AAA will also listen to your individual situation and help you figure out the kinds of services you or your family member will need to be able to stay in your/their local community.
Visit https://eldercare.acl.gov/Public/Index.aspx to find your local AAA organization
File of Life
Simple but effective, the File of Life helps medical care givers quickly access all of your emergency information. This file lists your medical information – including things such as allergies, medications and emergency contacts – and comes in multiple forms. The most popular is a fridge magnet pouch that holds the file, but the File of Life can also be ordered in a travel pouch or as a window decal. Its signature red design is recognized my numerous medical establishments, as well as police, fire departments and senior citizen organizations.
When it comes to determining your aging family member’s financial situation, we highly advise that you speak with their financial advisor sooner rather than later. At Walsh & Associates in Sarasota, FL and DeKalb, IL, we stress an importance on legacy planning and making sure the generations of a family are financially taken care of. We welcome you to contact us if you are looking up to set up a financial plan for you and your family’s future – everyone should be able to enjoy the best quality of life possible in their retirement years.
All entities are separate and not affiliated with LPL Financial.