home aging

Aging in Place vs. Nursing Home Care: Important Factors to Make the Right Choice

home aging

A growing portion of the older population wants to stay in their homes as long as possible. This is known as “aging in place” and has several benefits when it is appropriate for the individual. However, there are some other care concerns to consider when deciding whether someone is at the point of needing additional help.

COMFORT AND FAMILIARITY

Most people want to remain in their homes because of the comfort, familiarity, and memories within it. Moving into assisted living or a nursing home is a big change for anyone, but especially for a senior who feels the loss of their independence during this transition. Remember that, when it is safe for them to stay there, someone’s home can support their overall mental and physical health.

If staying in the same place is important to your loved one, look for ways to ease your mind while also protecting their independence. Is there a neighbor or friend who can check on them each week? Can you drop in every other weekend to make sure things are going well?

SAFETY CONCERNS

Many adult children or other loved ones start thinking about these issues because they’re concerned over safety. Triggering events prompting a conversation about additional care needs include a loved one beginning to show signs of dementia or suffering one or more physical incidents like a fall in their home.

YOUR TIME AND PROXIMITY

As a family member, it’s natural to want to do everything you can to care for a loved one. Caregiving, however, can be very difficult and time consuming. It can be even more challenging if you don’t live nearby. If your time and that of other family members can no longer support a loved one, a nursing home or assisted living may be the answer.

FINANCES

Whether or not your loved one owns their home is the first consideration. Ongoing mortgage payments are just part of the puzzle. It can be hard for people to part with their home, but maintenance concerns and costs can be problematic. Evaluate the age of appliances and yard maintenance required, too. At some point a home might be more trouble than it’s worth to the occupant.

MEDICAL SUPPORT NEEDED

If a loved one only needs help with light housekeeping or meal preparation, they may not need to move to another location, especially a nursing home. Local organizations or a part-time hire could help with these needs while allowing your loved one to stay in their home.

However, if they have more advanced medical needs or challenges with multiple activities of daily living, in-home care from a medical professional could bridge the gap. For more advanced situations, a nursing home might be appropriate.

There are other care options along the spectrum in between care services provided by family and a nursing home. Part-time help from someone local such as a nurse, in-home care providers, assisted living, and adult day care are just a few. For someone who needs extra support but does not require the support of a formal nursing home, these options are well worth exploring.

Contact a New York Elder Law Attorney

An experienced elder law attorney can help you to assess your unique needs and goals. Contact Amoruso & Amoruso, LLP for a personal meeting.

long term insurance

With Premiums Rising Dramatically, Should You Keep Your Long-Term Care Insurance?

long term insurance

When clients ask us whether it is right for them, we consider their overall plan and unique situation. Sometimes we recommend long-term care insurance, sometimes we don’t, depending on the client’s needs and goals.

But what if you’ve already purchased long-term care insurance, and you’ve seen your premiums rise dramatically in recent years? First of all, you’re not alone. In some cases, premiums have gone up as much as 40 to 60 percent in recent years. The reason is that many insurance companies have suffered major losses on policies written more than ten years ago, and they are looking to recoup those losses. (A number of companies no longer offer long-term care insurance at all.)

If your premiums have increased, should you keep the policy? Make changes to it? Look for a cheaper one? Here are some factors to consider:

  • If your policy is more than two years old, you probably will not be able to find a cheaper one to replace it if you choose to cancel the existing policy. It may also be harder to qualify for a new policy
  • If your premiums have risen more than 20%, you may want to reduce your daily benefit to try and keep the premium down
  • You might be able to reduce your premium by lowering the rate of inflation protection. However, make sure it is not applied retroactively

Contact a New York Elder Law Attorney

Given that every family is unique, with particular needs and goals, it is advisable to discuss matters such as long-term care insurance with an experienced elder law attorney. We can review your policy and your existing plan to determine whether it is in your best interests to keep your existing policy. We can also recommend other tools and strategies that can help ensure you get the long-term care you need without losing your life savings. Contact us today for a consultation.