Proper Home Care Finance Planning Relives You from Undue Financial Stress As your parents and relatives age with time, you slowly come to realize the importance of home care services. In fact, home care refers to social and health services extended by trained professionals to seniors who are in need of the same either on a part-time or full-time basis. If you are one among those whose parents or aging loved ones are slowly losing the power to take care of themselves, home care services can come to your rescue. Regardless of whether your parents are terminally ill, in the process of recovery or in need of medical assistance, in-home care services can put to rest all your apprehensions and that of your family members too. However, financial limitation …show more content…
The reason that even the best financial plans fail is because your job may change at no fault of yours, your family member may suddenly develop a life changing health problem, your family may suddenly be forced to relocate to a new place in search of employment and other unpredictable circumstances which subjects your family under a state of immense financial chaos and mental stress may creep in. The best principle of financial planning is to save a small portion of the amount you receive during each pay period of yours. Remember, as you age, you slowly tend to realize that you aren’t able to work at your income level you currently enjoy. Certainly, you can do your purpose a world of good by developing a budget which forces you to save a bit every month. If, in case, you receive a monetary gift or incentive in appreciation of your hard work, do not spend the entire amount. Rather, set aside some amount as this can help you during your hour of crisis. Secondly, you can consider opting for an insurance plan. Engaging in a detailed discussion with your financial planner or insurance advisor and then deciding on the best plan suitable for you can do your purpose real
Long-term care (LTC) covers a wide range of clinical and social services for those who need assistance due to functional limitations. These limitations usually result from complications associated with age related chronic conditions, from disabilities related to birth defects, brain damage, or mental retardation in children; or from major illnesses or injuries suffered by adults (Shi L. & Singh D.A., 2011). LTC encompasses a variety of services including traditional clinical services, social services and housing. Unlike acute care, long-term care is much more complicated and has objectives that are much harder to measure. Acute care mainly focuses on returning patients to their previous functional level and is primarily provided by specialty providers. However, LTC mainly focuses on preventing the physical and mental deterioration of an individual and promoting social adjustments to suit the different stages of decline. In addition the providers of LTC are more diverse than those in acute care and is offered in both formal and informal settings, which include: hospitals, physicians, home care, adult day care, nursing home care, assisted living and even informal caregivers such as friends and family members. Long-term care services have been dominated by community based services, which include informal care (86%, about 10 to 11 million) and formal institutional care delivered in nursing facilities (14%, 1.6 million) (McCall, 2001). Of more than the 10 million Americans estimated to require LTC services, 58% are elderly and 42% are under the age of 65 (Shi L. & Singh D.A., 2011). The users of LTC are either frail elderly or disabled and because of the specific care needs of this population, the care varies based on an indiv...
Upon growing older there are many decisions to be made. Among one of the most difficult and perhaps most important decisions is where the elder person will live and how long-term care needs will be met when he/she is no longer capable of doing so independently due to the incapacity that accompanies many with old age. Nursing homes seem to be the popular choice for people no matter the race, gender, or socioeconomic status with 1.5 million Americans being admitted to them yearly.[3] Because nursing homes are in such a high demand and are not cheap, $77.9 billion was spent for nursing home care in the United States in 2010 alone, they are under criticism of many professions including the legal profession, which is in the process of establishing elder law as a defense to issues with in the elder community. Nursing homes have a duty to provide many things to the elderly including medical, social, pharmaceutical, and dietary services so that the individual may maintain the highest well-being possible.[4] Stated another way 'a nursing facility must care for its residents in such a manner and in such an environment as will promote maintenance or enhancement of the q...
Development of The Evidence Based Geriatric Nursing Protocols for Best Practice Guideline originated with the goal of providing strategies that would allow nursing to monitor and support family caregivers (Agency for Healthcare Research and Quality, n.d.). Evidence selection and collection occurred utilizing the PICO question methodology to hand search primary and secondary relevant published literature, in addition to electronic database searches. The data was then analyzed via a meta-analysis of the published materials garnered from the search in addition to a systematic review of the evidence. From the preceding analysis of the evidence, major recommendations arose for
Quirt, Maggie. "Contextualizing Care, Old Age, and Disability." An Interdisciplinary Annotated Bibliography on the Contributions of "Dependent" Populations and the Costs of Caregiving. N.p., 7 Aug. 2005. Web. 27 Feb. 2017.
Traditionally, in numerous societies as mothers and fathers grow older, their offspring physically repay their debts, emotionally and financially to their parents. They take care of them. In spite of the fact that this continues today in modern and postmodern societies families have themselves changed thus have the baselines of support and care. Increasingly, in numerous societies individuals come to live all alone or are placed in nursing care homes as they grow older there is placing an increased demand on the aged care system, as well as several health inequalities.
The book, ‘How to Care for Aging Parents’ is authored by Virginia Morris and with a forward by Robert M. Butler. In up-to-date new edition, the author completely revised and expanded over 200 pages of the text, covering the emotional, the legal issues and procedures, the financial aspect of every kind, medical related issues, and logistical related issues in caring for the elderly.
Taking care of the individuals that are getting older takes many different needs. Most of these needs cannot be given from the help of a family. This causes the need of having to put your love one into a home and causing for the worry of how they will be treated. It is important for the family and also the soon to be client to feel at home in their new environment. This has been an issue with the care being provided for each individual, which has lead to the need of making sure individuals have their own health care plan.
With the aging population growing faster every year many families must make a difficult decision whether their loved ones should live in assisted living or nursing home facilities. I can relate because I made the decision to care for my mother at my home. Some people do not have the money or resources to care for their parent so they must live in a facility for health and safety reasons.
Long-term health care consists of personal medical, and social services rendered to elders with chronic indispositions. These types of services are carried out through several different means, such as nursing homes, home health care, and respite care. The focus on long-term care is to provide an environment assisting with treatments plans, personal up keep and rehabilitation. As the largest part of our growing population reaches retirement age, several new questions and issues have arose. Financially, long term health has is an ever growing concern of the elder population and those who have accepted the financial burden. A large portion of the economy struggles with the cost of the ever rising prices of health care. The economy has been hindered with financial difficulty and it has had several implications on the ways we spend our money. For some of the baby boomers, it has left them with no choice but to continue to work in order to provide. For others, it has left them no option but to live with family members or seek assistants elsewhere. Income has evolved into a stressor for elders planning retirement.
"Who does a son turn to, when his 78 year-old mother, newly admitted to a nursing home’s rehab unit, is experiencing delusions and screams through the night? Or where does a daughter turn to for help when she notices a rapid decline in her mother’s health and her mother refuses to seek medical care? Or the gentleman who believes it is time to a continuing care retirement community, but has no one to advise him on the myriad of financial and lifestyle implications of such a move? (Lederman, 2012)." Within in the field of home health care, ecological system creates an outline for defining what it means to provide quality care to the elderly.
With advanced technologies in health care, the average lifespan of humans is around eighty-eight years, and these numbers are growing rapidly. Most elderly outnumber the younger within our population now, and with more of the baby boomer generation reaching the gold years, this number will rise exponentially. The cost of healthcare rising and the amount of Medicare funds decreasing makes caring for that loved one challenging. Statistics by Dr. Feng presented, “Individuals are living much longer; family structures are changing; women have entered the workforce. With no national health insurance program like Medicare and with the one-child policy that places elder care responsibilities on fewer shoulders” (Dr Feng). To some, the question of placing an elderly family member in long-term care facilities is a difficult one to consider. All too many times the elderly abandoned are not seeing families until visitation funeral ceremonies.
Long-term care involves providing a wide range of complex medical and social services for the disadvantaged and elderly Americans or the disabled. These services range from daily life assistance to daily life (such as bathing, eating and flowing), to various family health and community services, to the institutionalization of nursing homes. The huge and rapidly growing population and potential demand for these services highlight the urgency of the problem (Agich, 2003).
Today, world’s population is aging at a very fast pace and United States is no exception to this demographic change. According to the U.S Census Bureau, senior citizens will be accounted for 21% of the American population in 2050 (Older Americans, 2012). Although living longer lives may not seem like a negative sign, living longer does not necessarily mean living healthier. Older adults of today are in need of long-term and health care services more than any generation before them (Older Americans, 2012). Because of the growing need for senior care, millions of families are facing critical decisions on how to provide care for their parents. In addition, declining birthrates may cause people to have less familial care and support as they age. To be able to provide the necessary care for senior citizens government funded long term care insurance program is needed.
A concept that I believe is overrated is the mentality that you do not owe anyone anything. This idea has been popular for a while and usually covers areas of kindness and explanation. While this saying is rooted in good intent, it promotes selfishness and a lack of empathy, and is praised too highly for what it entails. To begin, the term overrated is used when a concept, place, or ideal is considered to be more important, true, or is praised more than it should be. The phrase, "You don't own anyone anything" is a phrase that has grown in popularity as a response to the phrase "treat everyone with kindness".
Personal financial planning eventually leads to secured retirement years; this is the purpose to plan for the future. With a volatile and erratic economy, and social security benefits undetermined in regards to having enough money to comfortably survive after retirement is critical. There is no magic ball to tell us what the coming years will bring; this is why it is up to each individual to have their own financial lives under control. Having a concrete financial plan now will secure an increased comfortable future.