Posts Tagged ‘ nursing home care ’

CREATIVE LONG-TERM CARE PLANNING

May 12th, 2012 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

We talked about the effect long term care has on financial planning last week on SeniorCitizenJournal.com.  Baby Boomers who have not yet retired, and younger generations as well, need to be seriously planning for their senior years’ long term care needs. We are living longer, and the need for long term care of one kind [...]



HOW EXPENSIVE CAN ELDER CARE GET?

Feb 15th, 2012 | By Dr Jerry D Elrod | Category: Senior Moments Blog

Projecting ahead into the next year, it begins to appear that the costs of elder care, i.e. assisted living, nursing care and other such forms of suitable accommodation for the elderly who require attention will continue to escalate. Depending on the nature of the care, geographic location, the condition of the resident (client, patient, etc.) these costs seem to continue to climb, until it is possible to imagine that over a ten year period, one can be talking in terms of somewhere between $400k and $500k in costs for care. That begins to feel prohibitive and downright scary.

Those who are wise enough to have applied for and qualified to receive long term care insurance are surely on the right track. And, they are even wiser if they chose the inflation rider as a part of the policy.

We relish the thought of our elderly loved ones