The High Costs of Living Longer

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Living Longer Is Creating Unexpected Problems

We’re Living Longer: Plan Ahead

It is an uncontested fact that we are living longer, and that some of our time, possibly quite a bit of our time, will be spent in long term care facilities. If we accept that this is likely to be true, then the sooner we begin planning for it the better off we will be. Many of us are coming face to face with this reality as we deal with the advanced ages and declining health of many of our parents. If you think long-term care is bewildering now, you haven’t seen nothing yet.

We are just on the cusp of seeing an exploding new industry in long term care come into focus, and it is going to reinforce the old adage that ‘ it pays to shop around’. There are a lot of parameters to consider when you are looking for long term care for a relative that is living longer. First of all, do they have any access or do they qualify for specific programs. Veterans, those with long term disabilities and certain policy holders may be eligible for a myriad of services that the rest of us don’t have access to.

living longer

Considering exactly what services are required is critical and key to determining the overall costs and possibly even the location of the care providing service. Many people have moved to be closer to their aging parents, and in some cases moved the parents closer to them. Often though, finding the facility is only a part of the battle and there still is the need to determine exactly what services are going to be required. Please keep in mind that the types of services and the frequency of the services will certainly change over a period of time.

Don’t get locked into long term contracts that appear to cover off every conceivable situation, it is better to deal with the issues as they arise and save your money until then. Odds are you will need it. The true cost of living longer is often hidden in a bunch of obscure fees and creative bundling designed to separate you from your money. Long-term care providers have taken a page from the old automobile ‘option packaging’ and the modern era cable company bundling practices, to deliver what appears to be a comprehensive care package that your mom or dad may not need. Paying to have medications administered makes no sense when one or both of them are capable of doing the same thing.

In short, it does pay to shop around. Ask questions of both the service providers and the current recipients of the service. Find out what is really happening behind the scenes and what you are really going to be paying for. Do your homework and come prepared to bargain with some of the care facilities. Living longer is a great thing, but not if you have to do it on very limited resources. Make sure that you retain as much of your money as possible for as long as possible.

Till Next Time….

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Sigrid McNab

Skype: sigrid.mcnab

Email: sigridmcnab@gmail.com

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

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4 Responses to “The High Costs of Living Longer”

  1. Dagmar Wichary Says:

    Unfortunately most of us do not think ahead and put it out of our mind, because of the fees they cannot afford.Not everyone can afford 3-6 thousand dollars a month, that is the price across from me in a care facility. Out of 360 people they have 10-15 that are supported partly by the Government. It scares me to think that I might not have enough money to live that long. Shopping around really helps.

    [Reply]

    sigrid Reply:

    Dagmar, I agree that many people avoid this important issue, because they are frightened of what the future may hold. Thanks for sharing…

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    Reply

  2. Criss Murdoch Says:

    Sigrid Thank you for this informative post. As the owner of an elder care company, I deal with the issue of confusion about long term care financial choices on a regular basis. There are many options, and society as a whole is unprepared for the economic impact of the aging baby boomer generation.

    [Reply]

    sigrid Reply:

    Thanks so much for sharing Criss. You are in a unique position to observe first hand the confusion facing long term care clients and their families. Do you have any suggestions that we can share on how to clarify the process?

    [Reply]

    Reply

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