During these tough economic times, paying for Alzheimer’s care is getting more and more difficult. The financial impact of this disease can be devastating on families. Now more than ever we encourage you to explore all of the options available when looking at the various ways to pay for care.
The Care Managers at ElderCare at Home can help you learn about benefits available through long term care insurance to community based services to Veteran’s benefits to Medicaid planning.
At some point in a person’s life, long-term care and or care at home services may be a necessity. Recognizing this possible reality, it is helpful to discuss the issue with appropriate family members, healthcare professionals and financial advisors. Planning ahead can help increase a person’s options and preparedness, avoid having to act in a crisis, and relieve financial pressure and emotional strain on the person in need of long-term care and his or her family.
Things to think about include:
- Health status and expected progression of a disease/disability
- Family situation
- Personal assets/income
- Retirement goals
- Informal versus formal care
- Desire for optimal independence
- Types of care settings
- Eligibility requirements for public programs or private financing options such as long-term care insurance
- Payment options