How to Prepare Yourself for Long Term Care
While the concept of assisted living, or in home care is a non-starter for most adults above a certain age, it is important to remember that there may come a time in your life where you need some extra help to maintain your quality of life. For most individuals it takes a serious health concern that raises the issue, but our hope is that you can be prepared for the possibility and be ready to address the issue when it is appropriate. Here are some items to consider in order to get ready.
Meet with your Doctor
You first need to meet with your doctor to get a full work up of your health to see where you are at physically. If there are a number of concerns that you or your children are worried about, bring those up to the doctor. If the evidence lines up then it may be time to arrange for some help for your daily life or consider moving to where your health needs can be met more immediately.
Organize your Estate
If you have not already done so, you need to update your financial and other personal affairs. This is a critical time for your family and loved ones. They need to know that you have your affairs in order so everyone can focus on your health. You should consider updating your will, your trust, power of attorney, and life insurance beneficiaries. It is also important to be sure all of your financial holdings are in order and that at least someone in your family is aware of passwords, account numbers and other information so that, if needed they can be accessed. Contact a reputable estate planning and financial adviser to provide assistance.
Assisted living and others types of long term care can be an expense that most do not consider. It is important to utilize all of the resources you have at your disposal. Most individuals have some form of health care. Perhaps that is through Medicaid, Veterans Affairs, or a package from your former employer. Other individuals choose to do special types of investments like single-premium immediate annuity, or SPIA. A SPIA is a type of agreement with an insurance company where you pay a fee up front and the insurance company then makes payments on your behalf at agreed upon installments. The best plan one where you are utilizing all of the resources available to you in tandem so that most the costs are covered.
While no one plans on assisted living, a nursing home, or other long term care options it is still a great resource for many each and every year. Individuals that have chosen to go with this option have found that their life has been enriched because they are no longer alone in their journey and they get the medical care in a more immediate manner. At Kensington Gardens, we know that the transition can be hard but being prepared can make the process much more smooth. Our facilities and grounds make this transition effortless as many aging adults begin to thrive in our community, the activities we provide, and our top of the line health care model. We strive to provide the best care to the aging adult in your life. Consider Kensington Gardens Estate Senior Living as an assisted living option in Gig Harbor for your loved one.
Published on Jan 19, 2016.