Where to turn for help when parents can no longer care for themselves

As I sit here writing this piece, I am reminded that another 10,000 seniors retired today and 10,000 more will retire every single day for the next nineteen years!

If you are a baby boomer, then I'm certainly referring to you.  But if you are not, you may have a loved one who is.  If you or someone you love has been fortunate enough to reach the milestone of retirement, there is no doubt that there are at least two things on your mind;

• "Do I have enough money to live the way I want to for as long as I want" 
• "Am I healthy enough  to enjoy my retirement with no help from others?"

Woody Allen once said "if you want to make God laugh, tell him all about your plans"

For the sake of conversation, let's just focus for a moment on some options for "aging in place" if your retirement aspirations don't go exactly to plan.  For instance, what if your health declines and you can no longer take care of yourself either short or long-term?  Who will you lean on and where will you turn?  Perhaps you feel like your family owes it to you to provide the care you need or maybe you feel like it's the State's responsibility and they will provide for you when the time comes.

At the end of the day, many family members do step in when necessary to help work through a crisis, but what if the challenges are longer lasting?  How much family support is reasonable and at what point will this begin to take its toll on your family's health and well being?

Certainly, it is not my intent to be all doom and gloom because there are so many happy endings to reflect on.  It is my intent, however, to educate you on the options available and provide some pros and cons of each.  Consider the list below:

1. Skilled nursing facility- Stay here for short-tern nursing and physical therapy (PT). Typically covered under Medicare and/or private insurance.
   
2. Skilled nursing agency- Can receive nursing and PT in the comfort of your home.  Typically covered by Medicare and/or private insurance
   
3. Long Term Care (Nursing Home)- Stay here for long term nursing needs where skilled care is needed 24/7.  Covered by insurance after spend down requirements are met for personal funds leading to Medicaid.
   
   
4. Assisted Living- Stay here for long term living when medically stable; still able to transfer and ambulate with minor assistance.  Not covered by insurance and costs can range from $2500-$8000/month
   
   
5. Private Duty Home Care- This provides non-medical support in the comfort of your own home with similar services to Assisted Living including meal prep, light housekeeping, bathing, transportation etc.  Not covered by traditional insurance and rates can range from $19-25/hr.

-Phil Smith, First Light HomeCare