Your Life
Survey after survey shows that Americans prefer to age at home. Especially with current COVID-19 headlines that report the risks and vulnerabilities of seniors in assisted living and nursing home facilities, the desire to age at home becomes stronger.
However, the fact remains that most Americans cannot afford the home care needed to support aging at home. Currently, Medicare does not cover costs of assistance with Activities of Daily Living (ADLs), unless you are considered homebound (i.e., generally seniors needing wheelchairs, walkers, etc. for mobility). ADLs include preparing meals, bathing and hygiene, laundry, cleaning, transportation, etc.
If aging at home is important to you, you need to start preparing—the sooner, the better. The best age to start long-term care planning is between the ages of 52 and 64. After 80 years of age, it is almost impossible (you must be deemed “healthy” and be willing to pay a high premium) to get long-term care insurance.
According the USNew.com, if you are now thinking about home care, you should consider the following criteria to see what costs to expect and the different payment options available for the care you want.
- Understand what home health care includes
- Consider the level of care you need
- Look at the costs
- What does your insurance and/or Medicare cover?
- Evaluate other ways to offset costs like getting help from family or state and local programs
Can you afford in-home care?
by Rachel Hartman
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