It can be very difficult and stressful discussing senior care options with an elderly family member. However, this decision comes with financial, legal, health care, and long-term care issues that deeply affect the family of the senior, rather than just the senior individual themselves. This article will address these concerns that affect family members and senior individuals.
Financial organization can be a stressful issue to work out. It’s important to ask about your elder’s financial situation, what money is coming in, and if retirement money is coming in. Knowing where your family member’s financial documents are kept is also an important thing to find out. Before making any care decisions, it’s crucial to understand the individual’s financial situation.
Legal preparation is another tough issue families have to deal with. Although it will be a difficult conversation to have, you’ll need to discuss a will to make sure all of the assets are taken care of. You’ll also want to make sure that legal documents are up to date, legal matters are concluded, and find out who will be a durable power of attorney that will make financial and health decisions on behalf of the individual. This is a vital consideration when making senior care decisions, because someone needs to be able to make health decisions if the individual no longer can do so.
Health care issues can also be stressful for families of elder relatives. Insurance is very expensive, but once an elderly individual turns 65 they can qualify for Medicaid or Medicare. While these policies cover many health issues for elderly patients, long-term care is not covered. These long-term care options require long-term care insurance policies in order to receive coverage. While it’ll help cover some of the costs, the individual or their family will still have to pay some out-of-pocket charges.
If you have concerns about eldercare options, hire a geriatric manager to assist you with these important decisions you’ll have to make on behalf of your loved one.