Americans increasingly desire better ways to age in place. Some worry about how they will be able to remain there. Family members are quitting their jobs to stay at home with their loved ones because they:
- Do not have the financial resources to hire competent caregivers
- Do not trust the services that currently provide care.
- Do not know what resources are available.
There are too many silos of care and nothing is being done to improve confidence. There is little done to support the creation and affordability of services that can implement a comprehensive Longterm Care at home solutions. There are too many “models of care” with cute names, and slim pickings of substantial financial resources available that doesn’t carry the possible risk of losing their home….
There is a need for extended and efficient resources for senior living. Aging in place has its benefits, but it also has it setbacks–namely financial. The United States has to improve the opportunities and infrastructure for those that fall within the gap of Medicaid eligibility and adequate financial resources. As you may know Medicaid assists those with very little resources. Financially able individuals are able to pay lots of money for around the clock care, if needed. I had a client that was projected to pay approximately $80,000 for one year of nearly 24/7 year around personal care and companion services. That is a lot! Granted, a combination of social security, private investment income, spouse inheritance, savings, and Long Term Care Insurance, did help tremendously; however, my concern and empathy are for those who are ill prepared, yet desire to age in place.
Social security income is a good portion of many citizen’s incomes. Many of those checks go straight to essentials and bills–bills and debt that are only increasing. The Senate Special Committee on Aging reports that many seniors have a new bill that they will face as they age–that is Student loans. Many people are going back to school later in life. So with increasing financial responsibility projected, fixed income that probably will not see a generous raise any time soon due to potential program solvency, coupled with little-to-no investments. What can we do to help these people too?
So far American enterprise has not come to the rescue, and government seems to be spinning it wheels and not going anywhere. Let’s not wait until a disaster has occurred. However, there is a tremendous opportunity for those who discover a way to improve for Senior Living@Home for ALL, not just for a few. Let me know your thoughts. Did you have loved on who aged in place? What were things that you did to make it easier? Share your stories below!
