It’s not uncommon for people to plan for retirement. What’s less common is for people to plan for long-term medical care. Nobody intends to have Alzheimer’s or any other form of dementia, yet it’s something that can happen — and if it does, it’s important to know that you are prepared to pay for the care that you need.
This is really a conversation that individuals should be having with their family members; even before a medical diagnosis is made, Mom and Dad should be on the same page with each other and with their kids about the financial provisions for long-term medical care, such as memory care and assisted living.
There are different components to this long-term financial planning. Taking an inventory of available resources — savings accounts, retirement accounts, VA benefits, etc. — is an important beginning. It can also be helpful to learn more about Medicare and Medicaid — what the eligibility standards are and what expenses can be covered.
Something else we recommend is knowing basically what long-term care costs. Because care at CountryHouse is customized to meet an individual’s needs, it is impossible for us to provide a single quote, yet we are always willing to walk you through some basic pricing structures in a one-on-one meeting. We emphasize the importance of comparing different care options to ensure you have a good sense of the value you are getting.
Also make note of the different financial aid options that exist at CountryHouse, including long-term care insurance, tax deductions, companion living, and more.
Whether you are considering your own care or that of a loved one, you want to know that you can get the best, and that you can afford it. Start having these important conversations, and make these important plans, sooner rather than later.
Contact us to learn more about memory care pricing.