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Rita’s mother was living independently until she had a stroke. Her mother could no longer communicate, and it was unsafe for her to live at home. Rita had no choice but to move her mother to a nursing home against her wishes. To pay for her care, Rita scrambled to gather her mother’s financial information and apply for Medicaid.*
Rita’s situation is common. Aging is unavoidable, yet most people do not plan for it.Care For Elderly In Wheelchair
Eventually your parents may need long-term care, defined by the U.S. Department of Health and Human Services as “services and supports necessary to meet health or personal care needs over an extended period of time. Most (long-term care) is not medical care, but rather assistance with the basic personal tasks of everyday life.”
There are three reasons to help your parents prepare for their long-term care:

  1. When seniors plan, they have a say in where and how they will spend their final years.
  2. Long-term care is expensive. Elders’ choices are limited by what they can pay. Planning provides people an opportunity to arrange their finances to better afford the care they want. Medicare, a medical insurance program, will not pay for it.
  3. Advance planning reduces stress on adult children who frequently struggle to figure out their parents’ finances and wishes in a time of crisis. They must either find a facility to care for their parents or unexpectedly change their lives to provide care themselves.

Today there are many geriatric care options. These include:

  • Paid or family caregivers in the senior’s or a relative’s home
  • Adult day programs
  • Assisted living communities, offering help with personal care and meals
  • Memory care facilities, specializing in cognitive decline
  • Continuing care communities, providing care though all stages of aging
  • Long-term care facilities, commonly called nursing homes

Every option has a cost. Your parents’ choices depend on their needs, financial resources and their family’s circumstances. If an individual does not have the funds to pay for care, he or she may qualify for Medicaid, a joint federal and state program that provides long-term care for low income seniors.
In planning for long-term care, your parents’ wishes and anticipated needs are important. A good first step is having a conversation with your parents about the geographic area in which they want to live and their anticipated medical, personal care, social, transportation, and shopping needs.
Next, determine your parents’ financial assets. In addition to Social Security payments, pensions, annuities, and investment accounts, look at proceeds from selling your parents’ home, Veterans’ benefits, long-term care insurance policies, reverse mortgages, and liquidation of valuables. It may be helpful to consult a financial planner to determine what assets can be used and project how long they will last. You can find a Certified Financial Planner at the CFP Board website, www.cfp.com.
Research the programs and facilities available in your parents’ desired community. Consider the level of care each place provides, the monthly costs, and whether they accept Medicaid. Bring your parents to visit the places they can afford and that will meet their anticipated needs.
Consulting with an Elder Law attorney is a good investment. Professionals in this legal specialty help secure and coordinate private and public resources to pay for long-term care. This is especially important if your parents will run out of money. Elder Law attorneys know the Medicaid laws in the state where they practice and can help your parents plan and qualify for this assistance. To find an elder law attorney, contact the National Academy of Elder Law Attorneys at www.naela.org.
Aging is a fact of life. While there are many options available, helping your parents plan before they need long-term care will increase the choices available to them and reduce stress on the entire family.
*The names of the individuals in this post have been changed to protect their privacy.


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