No one wants to think about long term care for themselves or their parents as age sets in, but making decisions about a nursing home or alternative care can be tough emotionally and financially. Nursing homes, in fact, can be quite expensive. Here are some alternative methods of long term care that you can start budgeting for now:
Nursing Home Alternatives to Consider
1. Community Care
Community care allows a person to stay at home and brings community services to them. Meals on Wheels, visiting nurses, and in-home therapists may be some of the services used. Adult day care also comes under this heading, with many offering shuttle service to take seniors to day time activities but allowing them to return to their own homes at night. Medicare and Medicaid often cover most of these services.
2. Assisted Living
Assisted living is a great option for seniors who want to stay social and who need help with day to day tasks but don’t need round the clock medical care. The cost of assisted living communities usually includes rent and other services, some of which may or may not be paid by Medicare or Medicaid.
3. Granny Pods
The great idea with a funny sounding name, Granny pods are small modular homes you can put on your own property to keep your aging family close by. They come equipped with technology like softer floors and built in heart monitors to meet physical needs of the elderly, and can be much less expensive than putting an addition onto your home if having family within walking distance is important to you.
There are many alteratives for your parents or yourself as you age. Consider all the alternatives, and visit the Department of Health and Human Services’ long term care savings calculator to see what your most affordable options are.
Would you put yourself or a parent into a nursing home? What other alternatives have you considered?