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More Options for Those Who Need In-Home Care Support Services

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More Options for Those Who Need In-Home Care Support ServicesIt’s one of those things few Americans actually pay much attention to: the possible need for in home care services in the future. Millions of people plan for retirement, putting money away and setting a date by which they wish to retire. They work for years to attain those goals, but what they don’t think much about is the potential need for in home care support.

There is more evidence that planning ahead can be significant when it comes to home care services. Due to the cost of care, if a person considers long-term care insurance or devotes a portion of their retirement fund to the potential use for this type of support, then they’ll be in a better position for financial health if and when the time comes for that level of support.

Waiting too long, though, can be a serious mistake, which is why some organizations, like AARP (American Association of Retired Persons) is spreading information about planning ahead for in home care.

According to the article, You Can Afford a Home-Care Worker: There are resources for families who need caregiving help, written by Marsha Mercer and published by AARP:

“If you’re in your 50s, hooray! You’re in your prime for advance planning to hire a home care worker when the time comes. You can invest, check out long-term care and life insurance policies with in-home care benefits — perhaps through an employer — and other products to cushion the high costs of home care.

“It’s important for a person to purchase these policies when they’re in good health and younger,” says Rod Perkins, vice president of insurance regulation with the American Council of Life Insurers. “You don’t want to wait until you need it.”

In home care support services continues to be the most cost-effective option, and it allows seniors from all walks of life to remain where they’re most comfortable: at home. However, without proper financial planning, the cost of home care could erode much, if not all, of a person’s retirement account.

If a senior reaches a point when they no longer have financial support, they could quickly find their options limited. With regard to financial planning, there are more options today that can make a world of difference. Long-term care insurance, better retirement planning, reverse mortgages, and much more can all be instrumental at providing the financial support one may need if or when the time comes for them to rely on a home care aide or other services to stay where they are.

Valerie VanBooven, RN BSN, Editor in Chief of HomeCareDaily.com

Editor in Chief of HomeCareDaily.com at LTC Expert Publications
Valerie is a Registered Nurse, Author, and Co-Owner of LTC Expert Publications. Read More at http://www.LTCSocialMark.com
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