Many families are not prepared to deal with providing Elder Care for an aging parent that can last for many years. Nor do families understand what could be involved related to 7/24 care that is sometimes necessary. With people living to be 90 or more, it is very feasible that as someone ages, he or she will experience all the phases of aging including Independent Living, Convalescent Care, Home Health Care, Home Care, Assisted Living, Memory Care, Skilled Nursing Care and finally Hospice. Each of these levels of care has its own language that requires understanding in order to best utilize services in the Market Place.
Some of these services may be covered by Medicare, or Medicaid for lower income individuals under certain conditions and rules. Most require private pay, or senior care insurance to pay for what could be a very expensive level of care. For seniors remaining in their homes, Reverse Mortgages are possible to help cover some of these expenses. And, or for others selling a home and using the home equity, other savings and income to buy care is another option that often works to pay for these expenses.
The key is to make sure that the money is there one way or another to buy care for an extended period of time. This becomes even more complex if both aging parents are still alive requiring different levels of care. The average stay in an assisted living community is about 30 months; though many seniors live a lot longer. And, some may just move from assisted living to skilled nursing care when they are totally bedridden. Most important, families need to learn as much as they can about the various levels of care before they are needed to prepare for Elder Care Assistance. As we get older, we are all just one fall away from needing additional care.
