Practicing Wellness For Seniors: 5 Tips For A Healthy Lifestyle

Aging well is like the art of sculpting. Just as a sculptor carefully shapes and molds a block of clay or stone, embracing wellness allows us to shape and mold our own well-being as we age. We chisel away unhealthy habits, refine our choices, and sculpt a healthy lifestyle that reflects our true essence. With each mindful decision and intentional action, we carve out a masterpiece of vitality, strength, and wisdom.

Just like a sculptor, seniors have the opportunity to shape their wellness habits and design a lifestyle centered around longevity. Leading a healthy lifestyle not only helps seniors stay active and vibrant but also enhances their overall quality of life. With a focus on wellness, seniors can experience a range of physical, mental, and emotional benefits. To understand the impact of wellness on seniors, let’s explore what wellness means, how it can help older folks live longer, and practical tips to help seniors embrace a healthier lifestyle every single day.

What Is Wellness?

Wellness is the holistic practice of nurturing our body and mind to create a fulfilling, balanced, healthy life. The concept of “wellness” can broadly be separated into two main categories: physical wellness and emotional wellness.

Physical Wellness

Physical wellness involves taking care of our bodies through nutrition, exercise, and adequate rest. For seniors, physical factors like strength, balance, and flexibility play a role in their ability to remain mobile, independent, healthy, and happy into their later years of life. Physical fitness becomes harder and harder to maintain as you age, so creating a daily physical wellness practice can help your body preserve functionality into your 70s, 80s, 90s, and beyond.

Here are some areas to focus on when crafting a daily physical wellness practice:

Exercise daily. Seniors can participate in activities like walking, swimming, cycling, yoga, or strength training to engage muscles and improve heart health.
Incorporate balance and flexibility. Maintaining balance and flexibility becomes increasingly important to prevent falls and maintain mobility as we age. Incorporate exercises that focus on balance and stretching, such as yoga or tai chi.
Prioritize rest. Adequate sleep is vital for energy levels, cognitive function, and even immune system health. Get enough rest every day by creating a relaxing bedtime routine and practicing good sleep hygiene.
Fuel your body (properly). Proper nutrition plays a key role in maintaining physical wellness. Focus on a daily balanced diet that includes a variety of fruits, vegetables, whole grains, lean proteins, and healthy fats.

Emotional Wellness

In addition to physical wellness, seniors should focus on creating and maintaining emotional wellness. Emotional wellness refers to nurturing our mental and emotional well-being. From managing stress and cultivating positive relationships to developing coping strategies for life’s challenges, emotional wellness sharpens your mind and grows your inner peace.

Emotional wellness for seniors includes attributes like:

Having a positive mindset.
Practicing mindfulness.
Being adaptable.
Having — and creating — long-lasting relationships.
Participating in activities that bring you joy.
Cultivating mental sharpness.

Aging is a physical and a mental process, which is why stress — or other mental blocks — can cause seniors to stumble on their journey towards wellness. By actively creating a daily wellness that includes physical and emotional activities, seniors can enjoy a vibrant, fulfilling, long-lasting life with a strong body and mind.

Why Is Wellness Important to Seniors?

Wellness has the power to help seniors maintain a high quality of life — and even prolong their golden years. As we age, our bodies naturally go through changes that can impact our health. The human mind naturally weakens over time and can fall prey to cognitive diseases like Alzheimers and dementia. Similarly, the body experiences a natural decline in functionality, strength, and balance that can lead to ailments, accidents, and injuries. The good news? There are prevention measures you can take to ward off illness, disease, and avoidable accidents (like falls) from happening to you. Research shows that prioritizing mental and physical wellness can add years to your life. In fact, new research reveals that regular exercise can lower the risk of functional limitation and disability by up to 50%. Taking an active approach to aging well can help you live longer — and healthier — for years to come.

One of the best ways to introduce wellness into your life as a senior is by incorporating physical and mental wellness activities into your daily routine. Start by establishing a structured daily routine that includes exercise, healthy eating, relaxation, and social engagement. A routine can help seniors stay consistent with their wellness activities. Remember to take small first steps and gradually increase duration and intensity over time. For example, implement small dietary changes — like adding more fruit and vegetables to your meals — and ramping up as the weeks and months go by. By starting small, seniors can make lasting changes without feeling overwhelmed.

5 Wellness Tips for Seniors

You may have heard the old adage: an ounce of prevention is worth more than a pound of cure. Well, the same line of thinking applies to seniors looking to maintain their mental and physical health well into the later years of their life. To prevent declining health, seniors can prioritize the following daily wellness tips.

1. Prioritize Nutrition

Nutrition should not be overlooked when it comes to holistic wellness. As you age, it’s important to focus on several elements of your diet: caloric intake, nutrient density, hydration, fiber-rich foods, and calcium intake, among many others. Take a moment and ask yourself the following questions. Are you eating a well-balanced meal? Are you eating enough protein? Are you drinking enough water throughout the day? By prioritizing balanced meals, considering nutrient density, staying hydrated, focusing on bone health, incorporating fiber and protein, and considering individual needs and health conditions, seniors can create a nutritious diet that supports their overall well-being and helps maintain optimal health as they age.

2. Aim for 7-8 Hours of Sleep a Night

As you age, your sleeping patterns may change. You may notice that you have a harder time going to sleep or that you’re waking up more often and interrupting your REM sleep cycle. Unfortunately, sleep deprivation is a common issue for older adults, so it’s important to make a plan for getting 7-8 hours of sleep every night. First, evaluate what you eat before bedtime and eliminate caffeine, sugar, or alcohol. Are there any medications you’re taking that could be interfering with your sleep cycle? If so, talk with your doctor about any adjustments that can be made. Then, develop a wind-down routine to regulate your body and help your brain realize it’s time to start shutting down for the evening. Turn off screens and try finding sleep aids that work for you, such as a noise machine or essential oil room spray. Finally, get in bed at the same time so you can wake up feeling refreshed and ready for the day.

3. Get Moving

Aim to move your body every single day. Incorporating daily movement can help you maintain strength, flexibility, and cardiovascular health. According to the Centers for Disease Control and Prevention, older adults should aim to get 150 minutes per week of exercise — or 30 minutes per day, five days per week. Not only does exercise help keep your body in working order, it also provides clarity of mind and boosts your mood.

Here are some easy ways to incorporate movement into your daily schedule:

Walk with a friend. Add some socializing to your schedule while you exercise! Go for a daily walk with a friend to move your bodies and catch up.
Stretch. Maintain — and improve — mobility by stretching and working on your flexibility.
Participate in water aerobics. This type of exercise is one of the lowest-impact kinds of movement you can do. Get in the pool and work on your cardiovascular fitness, strength, and flexibility.
Dance. Dancing is another wonderful way to add movement, enjoyment, and coordination to your routine. It’s also a great opportunity to socialize with friends if you choose to participate in a dance class.

4. Do Something for Your Mind

Exercising your brain is just as important as exercising your body. To prevent cognitive decline, older adults need to proactively keep their mind sharp by engaging in mentally stimulating activities that enhance memory, concentration, and problem-solving skills. Here are a few ways to keep your mind sharp:

Puzzles and brain games: Work on crossword puzzles, Sudoku, word searches, jigsaw puzzles, or brain teasers to challenge your brain. These critical thinking skills can help keep your memory in good shape.
Reading: Whether you love reading fiction or the newspaper, reading provides a level of mental stimulation that engages your vocabulary skills, comprehension, and imagination.
Learning a new hobby: Painting, knitting, woodworking, playing a musical instrument, learning a foreign language… the sky’s the limit when it comes to taking on a new hobby. Lean into an activity you’ve always wanted to learn to exercise cognitive flexibility.
Meditation and mindfulness practices: Engaging in meditation can improve focus, reduce stress, and promote mental clarity. Plus, this relaxing practice is beneficial to your overall emotional well-being.
Board games and card games: Not only are games like Scrabble, chess, and Rummy enjoyable, but they’re also great for your mind. These mentally stimulating strategy games involve problem-solving, critical thinking, and memory skills.

5. Find Your Community

Finally, one of the most important aspects of physical and mental wellness includes creating and maintaining strong connections with others. Socialization is a critical aspect for seniors that contributes to their overall wellness. Being part of a community can provide emotional support and, more importantly, it reduces feelings of isolation. Lean into opportunities that allow you to connect with others who share your interests. Join clubs, volunteer, seek out activities at community centers to engage in social activities.

Health and Wellness for Seniors: Key Takeaways

As you become the sculptor of your life, take the time to carefully shape and mold your well-being. By prioritizing physical and emotional wellness, seniors can experience a range of benefits that enhance their overall quality of life. Incorporating daily activities such as exercise, proper nutrition, adequate sleep, cognitive stimulation, and social engagement is key to maintaining a healthy lifestyle. Wellness is not just about adding years to life but also about adding life to years. Take proactive steps towards wellness and you can carve out a masterpiece of vitality, strength, and wisdom, enjoying a vibrant and fulfilling journey through their golden years. Retirement Genius is here to help you embrace the power of wellness and shape your life into the vibrant masterpiece it can be.

In-Home Care: Understanding Your Options

nurse caretaker comforting elderly patient Though it may be for the best, the transition from independent living to a form of living assistance can be difficult for both seniors and those closest to them. Fortunately, there are many different care options available to seniors who need some level of assistance. Two of the most popular long-term care service options are assisted living facilities and nursing homes.

The decision between a nursing home and an assisted living facility is very personal and should not be taken lightly. This post covers what each option entails, how they differ, and how to decide which may be best for your loved one’s specific needs.

What is Assisted Living?

For individuals looking for a combination of independence and assistance with activities of daily living (ADL), assisted living, with its mix of a residential community and moderate support, is a very attractive option. Assisted living facilities are similar to retirement communities. However, they do not provide around-the-clock care but instead focus on providing assistance with daily activities. Also, assisted living facilities often offer residents a variety of recreational activities with the goal of community building rather than providing medical assistance.

What Is A Nursing Home?

With a greater emphasis on providing skilled medical care, nursing homes are a popular choice among seniors seeking healthcare and services beyond assistance with ADL. Nursing homes have the resources to deliver robust medical care through trained on-site medical professionals and constant attention, making them ideal for those who need individualized support. In general, nursing homes do not offer their residents many recreational activities. They aim to promote their patients’ health rather than facilitate socialization within the community.

Assisted Living vs. Nursing Homes

There are a few distinctions between assisted living facilities and nursing homes seniors should consider when pursuing long-term care. While both options can provide assistance with basic activities, they contrast in the following categories: living accommodations, meal preparation, and medical care.

Living Accommodations

Assisted living facilities provide flexible living situations, often allowing residents to bring their own furniture and even pets.
Nursing homes offer both single and shared rooms. These facilities do not allow pets and are usually pre-furnished upon move-in.

Meal Preparation

Assisted living facilities give their residents the option to eat with other residents or prepare their own meals, if they wish.
In nursing homes, the staff prepares all meals and delivers these to the residents in their rooms or a common dining room.

Medical Care

Assisted living facilities offer a range of on-site medical care. However, residents are expected to be relatively self-sufficient. If necessary, the facility can provide a medication management service but usually at an additional cost. As these facilities do not typically have medical professionals on staff, assisted living residences are not considered medical environments.
Nursing homes are certified medical environments that provide 24/7 care. They monitor and dispense medication, provide mobility and hygiene assistance, and fulfill any other resident healthcare needs.

Cost of Assisted Living vs Nursing Home

Nursing homes and assisted living facilities provide different services and levels of care, so their costs are not the same. Additionally, the cost of assisted living and nursing homes can be influenced by additional factors such as location and facility amenities.
Generally speaking, nursing homes cost over twice a month on average.

Senior Care Funding: Exploring Long-Term Care Life Settlements

There are several strategies seniors can adopt to supplement their income and pay for a nursing home or assisted living facility should the need arise.

Today, many insurance and benefits plans are specifically designed to help decrease seniors’ out-of-pocket costs for long-term elderly care. Long-term care life settlements are a financing option that allows policyholders to sell their life insurance policy in exchange for cash. That cash can then be used towards any long-term care option. Seniors can also place these settlement funds in a long-term care (LTC) benefit account. This type of account is similar to a health savings account, which protects the funds and affords the policyholder flexibility should their care needs or costs fluctuate. The money from a long-term care life settlement can be used for residences in nursing homes or assisted living facilities, along with any other form of long-term care such as in-home care and hospice aid.

Assisted Living vs. Nursing Home: Which Option Is the Right Fit?

Now that we have covered the key differences between assisted living facilities and nursing homes, we need to determine which makes the most sense for your loved one’s needs. To do this, consider factors such as lifestyle, medical history, ongoing conditions, and level of independence.

Long-term care aims to ensure each senior is in a situation that promotes their health and happiness. As a general rule, if seniors need more assistance with ADLs and recurring medical care, a nursing home would be a better fit than assisted living. As assisted living facilities tend to be designed for more self-sufficient individuals, a nursing home is better suited to manage personalized care needs. The opposite would be true if the senior is more independent or looking for a moderate level of assistance with ADLs—in which case an assisted living facility would be a better option. No matter each senior’s situation, it is essential to research this topic before making a decision that will have a significant impact on a senior’s quality of life and how best to use their funds. Not all nursing homes and assisted living facilities have the same offerings, so be sure to investigate all of your loved one’s options thoroughly.

Difference Between Assisted Living and Nursing Homes: Key Takeaways

As their autonomy begins to wane, many older seniors can go through a period of anxiety and sadness. This life stage is made no less overwhelming by the wide variety of care options on the market, often making it difficult to differentiate among them. We hope that this post helps seniors take the first step towards navigating the differences between two popular options: assisted living facilities and nursing homes.

The aging process can bring health conditions and emotional changes. Taking time to determine which senior care option is right for your loved one can go a long way towards ensuring that this new phase is fulfilling. To learn more about long-term care and retirement financing options, reach out to the professionals at Retirement Genius.

Understanding the Types of Assisted Living: Assisted Living Levels of Care

When it comes to finding the right long-term care solution for an elderly loved one, the options can seem overwhelming and confusing. Should you consider a nursing home, in-home care, or assisted living? What’s the difference between these options and how do you determine the best fit for your loved one’s individual needs and preferences? If you’re trying to navigate these choices for an elderly loved one, it’s important to understand how senior care facilities work in order to make an informed decision. In this article, you’ll learn more about the various types of long-term care options available, plus we’ll deep dive into one suitable option for many seniors: assisted living.

Table of Contents

What Are the Different Types of Long-Term Care?

Deciphering what the different types of assisted living care are — and what option may be best for your loved one — can be slightly complex. Learn what the differences are between in-home care, assisted living, and nursing homes to get a better understanding of what kind of care your loved one may need.

In-Home Care

In-home care services are typically for seniors who want to live independently in the comfort of their own homes with a little extra help. In-home care can include a range of services based on the individual’s needs. This type of care typically includes help with activities of daily living, including: meal prep, housekeeping, transportation, medication reminders, bathing, dressing, and more. In-home care services can also include more specialized care, such as physical therapy, occupational therapy, memory care, and more.

The main advantage of in-home care is that it allows seniors to receive care in a familiar and comfortable environment. Additionally, in-home care services can be customized to meet the individual needs of each senior, making it a flexible and adaptable option. However, there are a few drawbacks. It can be more expensive than other types of care. And it may not provide the same level of socialization and stimulation as assisted living or nursing homes. It is important for families to carefully consider the needs of their loved ones and weigh the pros and cons of in-home care before making a decision.

Nursing Home

Nursing home facilities provide 24-hour care and support for seniors with medical and daily living needs. The main difference between nursing homes and assisted living communities is that nursing homes tend to have a more medical setting. There are different levels of nursing home care that offer skilled nursing, rehabilitation, and memory care, and provide residents with meals, housekeeping, and personal care services. The main advantage of nursing homes is that they provide seniors with round-the-clock access to medical care and support, which can help folks with complex health conditions. Nursing homes also offer a secure environment that reduces the risk of falls, accidents, and other common senior safety issues.

Most long-term care options can be pricy and nursing homes are no exception. In addition, the quality of care can vary widely depending on the facility and the staff, so it is important to carefully research and evaluate their options before making a decision.

Assisted Living

Assisted living provides seniors with a combination of housing, personal care services, and health care. This type of care is designed for folks who need some help with activities of daily living (ADLs) but don’t require the 24-hour medical supervision of a nursing home.

Seniors in assisted living communities live independently within the community and have access to a range of services, including daily living assistance, therapy, medical services, and more. Services provided depend on the level of care each resident needs. Meals are typically provided and these types of communities often offer several social, recreational, and educational activities that help seniors feel connected with others in their community.

Assisted living can help seniors maintain their independence and autonomy while living in a secure and supportive community. However, they can be pricey and a difficult transition for seniors who may not want to leave their homes.

What Are Activities of Daily Living (ADLs)?

In assisted living communities, the level of care each resident receives depends on what activities of daily living (ADLs) they can perform on their own — and which ones they need help with. For those who are unfamiliar with this term, ADLs are a series of basic tasks that individuals perform on a daily basis to maintain their independence and well-being. They include activities such as:

Bathing
Dressing
Eating
Transferring (ability to move from one position to another, such as getting in and out of bed)
Toileting
Continence

Assisted living communities may also assess Instrumental Activities of Daily Living (IADLs) which are more complex tasks that are necessary for independent living. These can include:

Housekeeping
Meal preparation
Medication management
Transportation (i.e. the ability to arrange and use transportation, including driving, using public transportation, or arranging for a ride)
Communication

By evaluating both ADLs and IADLs, assisted living communities can gain a better understanding of each senior’s individual needs and develop a personalized care plan that meets their unique needs.

What Are the Levels of Care in Assisted Living?

Assisted living communities offer varying levels of care to meet the different needs of seniors. The levels of care provided by an assisted living community can vary by community. However, here’s a high-level overview of the general levels of care.

Level 1: Low Level of Care

A “Level 1” assisted living resident needs very minimal assistance. They don’t show any signs of cognitive decline and can move around independently. They may need some help with some ADLs, but are otherwise active in social activities within the community. Services they may need at their assisted living community include:

Support with Activities of Daily Living (ADLs) such as bathing, dressing, grooming, etc.
Medication management and reminders
Housekeeping and laundry services
Transportation to appointments or shopping

Level 2: Moderate Level of Care

“Level 2” residents need more than minimal assistance to safely go about their day. They have a growing list of ADL assistance and likely need medication management. Services that they may need in an assisted living community include:

All services included in the low level of care
Assistance with mobility and transferring
Assistance with meal preparation and feeding
Basic nursing care such as monitoring of vital signs and assistance with injections

Level 3: High Level of Care

Residents who are categorized as “Level 3” need help with most of their ADLs and are likely a fall risk. They may be experiencing cognitive decline and may not be able to participate in social and dining activities any longer. This type of resident may be moving toward memory care or a nursing home in the near future. Services they may need at an assisted living facility include:

All services included in the low and moderate levels of care
24-hour skilled nursing care
Specialized care for seniors with chronic health conditions such as dementia, Parkinson’s disease, or diabetes
Physical therapy, occupational therapy, or speech therapy as needed

How Do You Know What Level of Assisted Living Your Loved One Needs?

Figuring out the appropriate level of care for your loved one is challenging no matter the circumstances. However, there are a few key factors that can help you guide the decision-making process. Here’s a list of questions that can help you assess the level of care your loved one needs.

How many ADLs can they perform on their own?
How is their memory?
What are their social and emotional needs?
Are they ready for a living transition?

Luckily, you don’t have to decide on your own what level of care your loved one needs. Healthcare professionals at the assisted living facility of your choice can help you analyze what would work best for your loved one.

What Is the Cost Difference Between Assisted Living Levels of Care?

The cost of assisted living care can vary widely depending the level of care required, the location, and the services offered by the community. Costs range from a national average of around $4,000 per month to two or three times that amount based on location, apartment size, community amenities, and services. In general families can expect to pay the following for each level of care at an assisted living community:

Level 1 (low level of care)

Average monthly cost: $2,500 to $3,500
Services typically included: Assistance with Activities of Daily Living (ADLs) such as bathing, dressing, grooming, and toileting, medication management and reminders, housekeeping and laundry services, and transportation to appointments or shopping.

Level 2 (moderate level of care)

Average monthly cost: $3,500 to $5,000
Services typically included: All services included in the low level of care, assistance with mobility and transferring, assistance with meal preparation and feeding, basic nursing care such as monitoring of vital signs, and assistance with injections.

Level 3 (high level of care)

Average monthly cost: $5,000 to $7,000 or more
Services typically included: All services included in the low and moderate levels of care, 24-hour skilled nursing care, specialized care for seniors with chronic health conditions such as dementia, Parkinson’s disease, or diabetes, physical therapy, occupational therapy, or speech therapy as needed.

While some communities offer financial assistance or other cost-saving options for families who are unable to pay for the full cost of care, assisted living is primarily a private pay arrangement. Here are some common funding options to support the cost of assisted living:

Life Settlement: the sale of a life insurance policy for a significant cash payout
Reverse Mortgage: a type of loan that allows homeowners to borrow money against the equity in their home while deferring repayment of the loan until they move out or pass away.
VA Aid & Attendance Benefits: financial assistance provided by the Department of Veterans Affairs to eligible veterans and their spouses who require help with activities of daily living

Senior Living Bridge Loans: short-term loans designed to help seniors pay for the cost of senior living while they wait for long-term financing options to become available

Talking to a loved one about long-term care options is never an easy conversation, but it’s an important one to have. By starting the conversation early and approaching it with empathy and understanding, you can work together to create a plan that meets your loved one’s needs while also giving you peace of mind. Remember to involve your loved one in the decision-making process, respect their wishes, and take advantage of resources available to you, such as financial planning tools and professional guidance. Retirement Genius is here to help seniors and families navigate the complex world of senior care. With the right approach and support, you can help your loved one navigate the process of aging and ensure they receive the care they need to live a happy, healthy life.

Social Security: What Happens If You Work Less Than 35 Years?

Social Security benefits depend on work duration and retirement age. Read more to see what Retirement Genius has to say about the credits needed to receive benefits.

Don’t Punish 60 Million Medicare Beneficiaries Because of Joe Namath

The Center for Medicare and Medicaid Services wants to impose a 48-hour rule on seniors requesting Medicare information. Chris Orestis examines this issue and impacts it could have on seniors.

Senior Benefits: Free Government Benefits for Seniors

As seniors reach their golden years, it should be a time of prosperity, rest, and reflection on the years of hard work they put in. While some folks are able to enjoy abundance in their later years, the reality is that many older Americans don’t have all the means necessary to thrive later in life. If you fall into this category, you may find yourself wondering what benefits are available for senior citizens like me?

Fortunately, there are safeguards in place to make sure older folks have access to the resources they need when it’s time for them to exit the workforce. From financial and healthcare assistance to food programs and senior discounts, learn what resources are available to older Americans who may need assistance during their retirement years.

Table of Contents

What Benefits Are Available for Senior Citizens?

As a senior, it’s important to understand what benefits are available to you and, more importantly, how to access them! Whether you are struggling to make ends meet, need assistance with retirement, or looking for ways to improve your overall well-being, discover what benefits you could qualify for.

Health Care

One of the most important resources you need access to in retirement is healthcare. In order to maintain your health and well-being into your later years, you can tap into healthcare benefits available to seniors in the U.S., including Medicaid, Medicare, prescription assistance programs, and Veterans benefits. Get an overview of how each program works and who may qualify below!

Medicare

Medicare is a federally funded healthcare program available to seniors aged 65 and above, as well as to those with certain disabilities or end-stage renal disease. It funds almost a quarter of all healthcare spending in the United States!

It’s divided into four parts and seniors can choose to enroll in Original Medicare (Parts A and B) or opt for a Medicare Advantage plan (Part C) that covers both Parts A and B. Here’s what’s included in each part of Medicare:

Part A covers hospitalization costs.
Part B covers outpatient medical services.
Part C provides additional coverage options through private insurance companies.
Part D covers prescription drugs.

While any aspects of Medicare are free to folks 65 years and older, there are parts of the program that require payment. If you’re approaching 65, meet with a Medicare specialist to understand what coverage you’ll need (and how much it may cost).

Medicaid

Similar to Medicare, Medicaid is a joint federal and state program that provides healthcare coverage. The difference is that Medicaid helps low-income individuals (including seniors who meet specific income requirements) whereas Medicare provides coverage to any senior 65 years or older. Medicaid provides benefits for many in this country and even pays for half of all long-term care expenses in the United States.

Medicaid covers a broad range of medical services, including:

Inpatient and outpatient hospital care
Doctor visits and other medical services
Laboratory and X-ray services
Home health care
Nursing home and long-term care services
Prescription drugs
Rehabilitation services
Transportation to medical appointments

Some states also cover dental care, vision care, hearing aids, medical equipment, and even in-home care. Eligibility requirements vary by state, but seniors may be eligible for Medicaid if they have limited income and assets. You can work with a Medicaid specialist to find out if you qualify and what benefits would serve you best in your state.

Prescription Assistance Programs

Prescription Assistance Programs are designed to help seniors who struggle to afford the high cost of prescription drugs. Many pharmaceutical companies offer assistance programs to help seniors pay for their medications. These programs may provide discounts, free or low-cost medications, or co-pay assistance.

Seniors can contact individual pharmaceutical companies to inquire about available programs or work with their healthcare provider to identify resources.

Veterans Healthcare Benefits

Veterans Benefits are available to seniors who have served in the U.S. military. The Department of Veterans Affairs (VA) provides a range of healthcare benefits to eligible retired veterans through their health insurance program, TRICARE. TRICARE provides comprehensive coverage for military members, their dependents, retirees, and some survivors and former spouses, including:

Outpatient visits
Hospitalization
Preventive services
Pharmacy benefits
Dental benefits
Immunizations

If you’re a veteran and in need of healthcare, speak with a specialist at the VA to get the assistance you need!

Financial Assistance

In addition to healthcare benefits, there’s a range of financial assistance programs designed to help seniors in need. With inflation rising, many older Americans are turning to these programs for supplemental income to help alleviate the cost of living. Take a look at what financial assistance programs may serve you best!

Social Security

One of the most well-known and utilized financial assistance programs for older Americans is Social Security. It’s a federal program that’s designed to provide a reliable source of income to seniors (and other eligible individuals) and supplement retirement savings, pensions, and/or other income streams.

Seniors may begin collecting Social Security when they reach 62 years. However, if you’re able to wait longer to collect, you can receive a higher monthly benefit. In 2023, people who begin collecting Social Security at 62 will receive $2,572. Folks who wait until age 70 will receive a monthly benefit of $4,555.

While many seniors rely on Social Security as their main source of income in retirement, the program was not designed for seniors to live off of it. In fact, about a quarter of America’s seniors use Social Security for at least 90% of their income in retirement and 50% of seniors use Social Security as half of their retirement income. Meet with your financial advisor to strategize when you should begin collecting Social Security and what other streams of income can help you cover the cost of living during retirement.

Federal, State, and Veteran Pensions

In addition to Social Security, some seniors may be eligible to collect federal, state, and/or veteran pensions. Federal pensions are offered to federal government employees, state pensions are offered to state government employees, and veteran pensions are offered to veterans and their surviving spouses.

To qualify for a federal pension, a person must have worked for the federal government for a certain period of time and have reached a certain age. State pension eligibility requirements vary by state, but typically require a certain number of years of service and/or age. To qualify for a veteran pension, a person must have served in the military during a time of war or other designated period and meet certain income and asset requirements. These pensions provide retirees with a guaranteed source of income in retirement, helping to supplement other sources of income and providing financial stability in later years.

Food Assistance

Another major area of need for seniors is food assistance. If you’re experiencing difficulty affording your grocery bill or can no longer make meals on your own, there are programs designed to meet your needs, including the Supplemental Nutrition Assistance Program (SNAP), emergency food assistance programs, farmer’s market programs, and Meals on Wheels. See what food assistance programs may be available near you!

SNAP

The Supplemental Nutrition Assistance Program (SNAP) — formerly known as food stamps — is a federal program that provides financial assistance to low-income individuals and families to purchase food. Seniors can qualify for SNAP if they meet certain income and asset requirements, which vary by state and household size.

SNAP benefits are loaded onto an electronic benefits transfer (EBT) card, which works like a debit card to purchase eligible food items at participating retailers. Older folks can benefit from SNAP by using their benefits to purchase nutritious foods that may be otherwise unaffordable.

To qualify for SNAP, seniors must be either 60 years of age or older or have a disability. To apply for SNAP, seniors can contact their state’s SNAP office or apply online through the USDA’s website. SNAP can be a critical source of support for elderly folks who are struggling with food insecurity, providing them with access to healthy, affordable food.

Emergency Food Assistance Programs

Emergency food assistance programs, such as food banks and pantries, provide free food to individuals in need, including seniors. These programs typically rely on donations from individuals, organizations, and businesses to supply their inventory of food. Older people who are struggling with food insecurity can benefit from emergency food assistance programs by receiving free food to help supplement their grocery budget.

Eligibility requirements vary by program and location, but many programs have income and/or residency requirements. Seniors can typically visit a food pantry or food bank to receive a pre-packaged box of food or to select their own items from the available inventory. In addition to providing free food, many emergency food assistance programs also offer additional services to help seniors, such as nutritional counseling or assistance with applying for other benefits.

Farmers Market Programs

Farmers market programs are a type of food assistance program that allows seniors to use vouchers or coupons to purchase fresh fruits and vegetables at participating farmer’s markets. Not only do these programs help seniors access fresh, locally grown produce that may be more expensive or difficult to find in traditional grocery stores, they also help support local farmers and promote sustainable agriculture.

One example of a farmers market program for seniors is the Senior Farmers’ Market Nutrition Program, which provides eligible seniors with coupons that can be used to purchase fresh produce at participating farmer’s markets, roadside stands, and community-supported agriculture programs.

Eligibility requirements vary by program and location, but seniors must typically be 60 years of age or older and meet income requirements.

Meals on Wheels

Meals on Wheels is a national program that delivers hot, nutritious meals to seniors who are unable to leave their homes due to mobility or health issues. Seniors who are eligible for Meals on Wheels typically receive one or two meals per day, depending on their needs, and the meals are delivered directly to their homes. In addition to providing nutritious meals, Meals on Wheels can also serve as a wellness check for seniors who may be at risk of isolation or neglect.

To qualify for Meals on Wheels, seniors must typically be 60 years of age or older, have difficulty preparing their own meals, and have no other available assistance. Seniors can apply for Meals on Wheels through their local chapter or by contacting the national Meals on Wheels organization. Meals on Wheels can be a critical source of support for seniors who are homebound, providing them with nutritious meals and social interaction to help improve their overall well-being.

Housing Assistance

As seniors age, they may find it increasingly difficult to manage the costs of housing and utilities. Fortunately, there are several programs available to help seniors with housing assistance, utility discounts, and even weatherization tasks. Take a look at what programs you may need during retirement and find out if you qualify!

Housing Vouchers

Housing vouchers are a form of rental assistance that helps people afford decent, safe, and sanitary housing. Seniors can apply for housing vouchers through their local housing authority and, if they are eligible, they will receive a voucher that can be used to pay for a portion of their monthly rent. Seniors who receive housing vouchers can benefit from affordable housing that meets their needs and allows them to age in place.

Local Utility Discounts

Believe it or not, many states and localities offer utility discounts to seniors who meet certain income requirements. These discounts can help seniors save money on their utility bills, including electricity, gas, and water. Seniors can contact their local utility company or their state’s Department of Aging to find out if they are eligible for a utility discount.

Weatherization Assistance

For seniors who live in areas with extreme weather conditions, there are weatherization assistance programs designed to help seniors make their homes more energy-efficient, which can help lower their heating and cooling costs. These programs may provide services such as insulation, weather stripping, and window replacements. Seniors can apply for weatherization assistance through their state’s Department of Energy or a local weatherization agency.

Home Energy Assistance Program (HEAP)

The Home Energy Assistance Program (HEAP) provides financial assistance to low-income households to help pay for heating and cooling costs. Seniors who are eligible for HEAP can receive a one-time payment or a monthly credit that can be applied to their utility bill. Seniors can apply for HEAP through their state’s Department of Energy or a local community action agency.

Other Benefits and Assistance

In addition to federal benefits, there are a number of other ways seniors can receive discounts or free assistance with everyday living essentials. Here are public and private programs you may want to consider using to reduce your monthly living expenses.

Phone Discounts: Many phone companies offer special plans and discounts for seniors. These plans can help seniors stay connected with their loved ones and caregivers, while also saving money on their monthly phone bills. Some plans even include free or discounted smartphones and data plans.
Legal Aid: Seniors may face legal issues related to estate planning, healthcare, and other important matters. Legal aid services can provide free or low-cost legal advice and representation to seniors who cannot afford private attorneys. These services can help seniors protect their rights and interests, as well as ensure that their wishes are carried out.
Transportation Assistance: Getting around can be a challenge for many seniors, especially those with mobility issues. Transportation assistance programs can provide free or low-cost rides to medical appointments, grocery stores, and other essential destinations. These programs can help seniors maintain their independence and access the services they need to stay healthy and active.
Tax Relief: Seniors may be eligible for a range of tax relief programs, including property tax exemptions, income tax credits, and other benefits. These programs can help seniors reduce their tax burden and keep more money in their pockets. They can also provide financial assistance to seniors who may be struggling to make ends meet.

A Quick Guide: Government Benefits for Seniors Over 60

In review, there are a number of public and private benefits available to folks during retirement, however, it’s essential to highlight the government benefits for seniors over the age of 60. Here’s a shortlist for you to keep on hand:

Social Security: Seniors who have paid into the Social Security system for at least 10 years are eligible for retirement benefits at age 62. These benefits can provide a steady source of income throughout retirement.
Medicaid: Medicaid is a joint federal and state program that provides healthcare coverage to low-income seniors. It can help cover the costs of nursing home care, home healthcare, and other medical services.
Veterans Benefits: Seniors who served in the military may be eligible for a range of benefits, including healthcare, disability compensation, and pension payments.
Food Assistance: The Supplemental Nutrition Assistance Program (SNAP) provides assistance to seniors with low income to help cover the cost of food.
Property Tax Relief: Some states offer property tax relief programs for seniors who own their homes. These programs can help reduce the burden of property taxes and keep seniors in their homes.

Unlocking More Government Benefits for Seniors Over 65

In addition to the benefits seniors are eligible for when they turn 60 years old, the other government benefit seniors qualify for once they turn 65 is Medicare. This federal health insurance program covers a range of medical services, including hospital stays, doctor visits, and prescription drugs. Make sure to work with your financial advisor to create a strategy before applying for Medicare once you turn 65 years old. There may be certain fees required for coverage you need.

Making the Most of Senior Benefits

When it comes to stretching your dollar in retirement, every little bit counts. By taking advantage of free or highly reduced services, seniors like you can save money on daily expenses, healthcare costs, and other essential needs.

Plus, using these kinds of programs can stretch your budget and make your later years in life a little more comfortable — and enjoyable. Since many of these programs are designed specifically for seniors, they can help you access resources you wouldn’t normally have access to. Overall, using senior discount programs and government benefit programs can help older Americans like you gain financial stability in your golden years.

Conclusion

In addition to private and public senior citizen benefits, there are a number of financial strategies designed for older Americans to tap into when they reach a certain age. From reverse mortgages to annuities, there are ways of strategically using the assets you own in your financial favor, adding to your fixed income every month.

One little-known financial innovation is a life settlement. Most seniors don’t know they can sell their life insurance policy for cash and end up surrendering or lapsing their life insurance policy altogether. Instead of letting go of your life insurance policy, see if you qualify for a life settlement. You could get four times the cash surrender value and use your proceeds for retirement. Use the Retirement Genuis Life Settlement Calculator today to see how much your policy may be worth!

Make growing older the time of your life by taking advantage of the benefits available to you. Your golden years deserve to be just that: golden!

4 times adults should have life insurance

As a person’s insurable interest evolves, they might need to reevaluate their life insurance policy to encompass changes. Retirement Genius addresses why someone might reevaluate their policy in this article.

Navigating In-Home Care

Maintaining independence is important for people as they age, and home care can be the key to achieving a comfortable quality of life. While home care can ease management of an ongoing medical condition, it also enables security, safety, and increased independence for your loved ones.

In-home care differs from other common forms of elderly assistance, like nursing homes and assisted living facilities, and has its own set of pros and cons. With many in-home care options available, you want to make the best decision for your loved one based on their long-term care needs, finances, and support network. This post covers what in-home care is, how it’s different from other forms of support for seniors, costs of in-home care, and who can benefit from in-home care.

What is Home Care?

In-home care allows seniors to age in the comfort of their own home. In-home care services can help someone who is aging and needs assistance to live independently, manage their chronic health issues, recover from a medical setback, or has special needs or a disability. With a combination of simple companionship, supervision, and personal care, in-home caregivers are appropriate for individuals who want to stay at home, but also need ongoing care that family members or friends cannot provide.

Depending on the person’s needs, professional caregivers such as nurses, aides, and therapists provide short-term or long-term care in the home. Most in-home care plans cover both non-medical services and skilled health care services including:

Help with daily activities such as dressing, walking, bathing, and using the toilet
Assistance with managing tasks around the home, including laundry, light housekeeping, and meal preparation
Companionship and supervision
Therapy and rehabilitative services
Medication Management
Short or long-term nursing care for an illness, disease, or disability

From making sure seniors take their necessary medications to providing companionship, in-home care is specialized to the individual and their needs, and ranges from a few hours intermittently to full-service care.

In-Home Care vs. Nursing Homes

There may come a time in a senior’s life where they can no longer take care of themselves. As their loved one, you’re not sure what care option is the best for them. Nursing homes, or skilled nursing facilities, are a popular option for older individuals as they provide a wide range of health and personal care services.

Staffed with a variety of medical professionals, they perform both medical and non-medical functions, including 24-hour supervision, assistance with everyday activities, and serving their residents three meals a day. Nursing homes are secure for seniors with Alzheimer’s or dementia who might be prone to wandering, and may offer rehabilitation services, such as physical, occupational, and speech therapy.

While some nursing homes are set up to mimic a home and not feel like a hospital, they can sometimes remove an individual’s independence, which can sometimes lead to feelings of frustration. Relocating to a nursing home also requires a transition period before it begins to feel like home, which can be difficult and disorienting for some seniors. Depending on the facility, they may also be roomed with another resident.

With their team of nurses and trained medical professionals, your loved one will be cared for by numerous staff members, unlike in-home care where one or two people can rotate in providing support. Skilled medical care can be provided by licensed practitioners at home, but many in-home assistants aren’t specifically qualified to provide medical assistance if needed. You may also need to consider the cost of home care vs nursing homes before making a decision as well. Nursing homes are typically paid for in monthly installments and private rooms, which adults often prefer, can be quite expensive. Conversely, in-home care is usually charged at an hourly rate for just the time required.

In-Home Care vs. Assisted Living

Assisted living facilities are best suited for individuals who require very little care on a daily basis. With over 30,000 assisted living facilities in the United States, they are often a popular alternative for in-home care. Assisted living communities offer seniors care in a residential setting that isn’t their home—usually in rooms or small apartments—while also providing social engagement and the amenities for a healthy lifestyle.

Most assisted living facilities provide residents with some form of help to accomplish various tasks, but usually don’t offer full-time long-term care. Services typically include medication management, assistance using the bathroom, dressing, and grooming, housekeeping, laundry, and transportation services. Social programs and activities are also included, to encourage residents to stay active and interact with members of the community.

Assisted living facilities don’t offer the same type of care that licensed in-home health aide or nursing home provides, but skilled home care services can be contracted to be provided in an assisted living environment. They cater to seniors who can live more independently and, unlike in-home care, don’t generally provide one-on-one personalized care.They may also not be the best for seniors who don’t enjoy a group living environment, and a frequently rotating staff.

Since they offer restaurant-style meals and snacks and maintenance-free living, assisted living facilities are a more affordable way for 24/7 supervisions and care. They allow families to focus on visiting with their loved one, rather than shouldering the burden of care needs.

How Much Does Private Home Care Cost?

The exact cost of in-home care is difficult to estimate, because average costs vary from state to state and are charged by the hour. The level of care needed, including the number of hours a senior spends with the caregiver, and any services and supplies needed to support them also factor into the overall cost of in-home care.

Most in-home care agencies charge by the hour, while some offer discounted rates for monthly contracts if your loved one needs significant assistance. Each agency will work with the senior and their family to determine the exact level of care they need, whether it be simple companionship or more hands-on care. Most agencies and private caregivers break up the price structure by non-sleeping visits, sleeping visits, and live-in caregivers, while 24/7 in-home care remains the most expensive model.

Costs of In-Home Care Vary By State

The national average monthly cost for home care is approximately $5,000. If you live in an area with a high cost of living, you can expect a higher price for in-home care. State regulations and requirements for special certifications can also impact the overall cost of in-home care. If you live in an area with a relatively low cost of living, you may pay less.

So, how much does private home care cost? Genworth Financial compiled a list of hourly, monthly, and annual median costs of home care in each state:

10 Most Expensive States for In-Home Care

Washington: $31.16/hr
Minnesota: $30.75/hr
California: $29.00/hr
Massachusetts: $29.00/hr
New Hampshire: $28.50/hr
Vermont: $28.50/hr
Wyoming: $28.12/hr
Alaska: $28.00/hr
South Dakota: $28.00/hr
District of Columbia: $26.13/hr

10 Most Affordable States for In-Home Care

Louisiana: $17.00/hr
Alabama: $18.00/hr
Mississippi: $18.00/hr
West Virginia: $18.50/hr
Arkansas: $20.00/hr
North Carolina: $20.00/hr
Tennessee: $20.50/hr
Georgia: $21.00/hr
Kentucky: $21.25/hr
South Carolina: $21.38/hr

What Insurance Covers In-Home Care?

Many types of insurance may provide coverage for in-home care, including:

Medicare typically covers part-time nursing care and therapy services for those who meet specific eligibility criteria. It does not cover 24/7 in-home care.
Medicaid may provide coverage for home care services for individuals with low income and limited resources.
Private health insurance plans may offer coverage for home care, but the extent of coverage varies depending on the policy and provider.

In some instances, it is possible to negotiate in-home care coverage with your insurance provider, especially when appealing coverage denials or exploring options to expand your benefits. Always review your policy details carefully, understand coverage limitations, and communicate with insurance representatives to advocate for necessary home care services.

Private vs. Agency In-Home Care Expenses

When weighing in-home care options, you can choose to go through a licensed home care agency or hire a private, independent caregiver.

While generally more expensive, agency in-home care provides peace of mind while removing scheduling and paperwork burdens for families. Agencies often provide continued training for their care, and all contracts, insurance, and taxes are already included in their costs.

Private caregivers often have lower hourly costs, since they set their own rates. They most likely don’t have worker’s compensation insurance, so any accidents made on the job will potentially come out of the family’s pocket. Additional background checks as well as reviewing contracts with a lawyer, may also be required.

Financing In-Home Care

Certain models of in-home care can be covered under Medicare, Medicaid, or similar assistance programs. Most home care is private pay and can be covered by long-term care insurance or by other financial options many people don’t realize they could use.

Veteran’s Aide & Attendance Benefits for veterans of active combat duty and/or their spouses are eligible to receive monthly benefits paid directly towards qualifying long-term care service. Like Medicaid, the applicant must meet both medical necessity and income/asset level requirements to qualify.

Reverse Mortgages can be available for homeowners with little to no remaining mortgage balance that are age 62 or older can qualify to take a HUD backed Home Equity Conversion Mortgage (HECM) loan against the home in the form of a lump sum, monthly income or a line of credit. To qualify the home must still be the primary residence and the loan must be paid back with interest and fees after the homeowner dies (typically through the sale of the property).

Long-term care (LTC) life settlements can be used to fund a Long-Term Care Benefit Account which is a unique financial option designed for seniors who want to unlock the value in a life insurance policy that they no longer need to pay for any form of senior living and long-term care they may want.

An LTC benefit account is a managed bank-trust account where payments are made automatically to the care provider on the owner’s behalf for any kind of care they chose.

An LTC benefit account is a managed account where payments are made automatically from the account on the owner’s behalf.

LTC Benefit Accounts are not long-term care insurance or an annuity, and an insurance company doesn’t issue a policy. Similar to a health savings account, there are no waiting periods and no claims to file, so the account is ready to start making payments towards care as soon as it’s funded by the LTC life settlement. The benefit account is designed to be flexible to meet the changing needs for care; for example, payments could start at a designated amount and can be adjusted to if a loved one then needed to move into an assisted living community or nursing home.

Who Can Benefit from In-Home Care?

Even if you don’t fully understand the pros and cons of in-home care, nursing homes, and assisted living facilities, your final choice can be a difficult decision to make. In-home care is best suited for seniors who want to continue their daily routine in their own home, with a little help accomplishing certain activities. While in-home care can become expensive, it remains a very attractive alternative to nursing homes and assisted living facilities, as your loved one can remain in the comfort of their own home and age in place.

In-home Care: Key Takeaways

In-home care can provide your loved one with a variety of benefits to support activities of daily living, including assistance with cooking, cleaning, and bathing. Navigating the cost of in-home care can seem overwhelming, especially when there are so many variables to consider. The experts at Retirement Genius can guide you through your options and help you decide if in-home care is the right fit for you and your family, and the best approach. Contact the experts at Retirement Genius today.

Frequently Asked Questions

Does insurance cover in-home care?

Insurance coverage for in-home care depends on the provider and type of insurance plan chosen. Medicare, Medicaid, and some private health insurance plans may cover certain aspects of in-home care, but coverage details differ and often require meeting specific eligibility criteria. Review your policy or contact your insurer for details regarding your specific coverage.

What is the difference in cost of home care vs nursing homes?

Home care costs vary based on location and the level of assistance needed, often ranging from hourly rates to live-in care expenses. Nursing home costs tend to be higher due to factors like 24/7 care, facility upkeep, and medical services. Generally, home care is more cost-effective for individuals needing less intensive care, while nursing homes are better suited for those requiring round-the-clock supervision and medical attention.

How much does home care cost?

According to a Genworth study, in-home care services average up to $6,292 monthly. This price varies based on an individual’s location and required services.

What types of in-home care are available?

In-home care services vary widely. The main types of services available are:

Personal Care Assistance: Help with daily hygiene activities such as bathing, dressing, and grooming
Homemaker Services: Help with daily household tasks like meal preparation and housekeeping
Medical Care: Skilled nursing to take care of any medical needs
Companionship Services: Individuals who visit to provide emotional support and social interaction
Therapies: Physical therapy, speech therapy, and occupational therapy for rehabilitation purposes

How do you choose the right service for in-home care?

To choose the right in-home care service, you must assess individual needs, consider the level of assistance required, and evaluate potential providers’ qualifications and reputations. It’s crucial to research available services, read reviews, and inquire about caregivers’ training and background checks. Discussing preferences and goals with the individual needing care can also help ensure a suitable match for their needs and personality.

Contact the experts at Retirement Genius today.

How to avoid common tax season pitfalls

Did you know that working while collecting Social Security can be a tax trap? Find out more about this trap and other pitfalls in this article.

Discussing Long-Term Care Planning with Your Loved Ones

When it comes to elder care, there are many options out there—and it can be an incredibly daunting task when making critical decisions about the future. As a result, you may gravitate toward long-term care or services that meet your loved ones’ personal needs over an extended period of time. These include home-based health care, day centers, assisted living facilities, and independent living communities.

But how should you broach the subject with your loved one? Caring for aging parents or loved ones often means having important conversations about the best choices for their health and well-being. Here, we address some common questions about long-term care—including when to consider it and which options are right for them—to help you navigate that key discussion with your loved one. We hope it will point you toward the best choice for your loved one’s situation.

Table of Contents

How Do You Determine Whether Your Loved One Needs Long-Term Care?

It is important to note that no specific behavior indicates when it’s time to pursue care for aging parents or loved ones, but the behaviors listed below warrant further action.

If your loved one is displaying any of the following signs, they may need some form of long-term care support or services:

Physical deterioration
Mental deterioration
Environmental deterioration
Loss of two or more activities of daily living (ADLs)

Initiating the conversation early on—at the first sign of deterioration—can prevent undesirable outcomes. Early intervention can radically slow physical or cognitive decline, allowing you to avoid or delay short-term care alternatives, such as hospice care. By staying ahead of the curve, you can help your loved one lead a longer, healthier, and more satisfying life.

How Should You Start the Conversation About Long-Term Care?

Before initiating the discussion, all involved adults—including the loved one’s children, siblings, and in-laws—need to be on the same page about what they see and the best course of action. Once everyone agrees on what should happen next, follow these tips below:

Smooth out any conflicting opinions, and don’t spring the issue on your loved one(s) without warning. Instead, ease into the discussion by pointing out the things everyone agrees they’re seeing. Then, discuss ways they can help with finding home care or assisted living.

Emphasize the positive side—in particular, that this decision will improve their lifestyle and safety. Suggest touring some facilities, meeting with home care services, or consulting with a geriatric care manager.
Reassure your loved one that they will have a support system every step of the way, and encourage them to ask questions. It is essential that they feel secure and that you conduct an ongoing open dialogue about the process.
If they do react negatively, be patient with them. Try to listen to, empathize with, and support them.

What Long-Term Care Options Are Available?

While there are many elder care options to choose from, the best course of action will depend on your loved one’s needs, including the personal and medical assistance they require. Long-term care is available in the following forms:

Assisted living facilities
In-home care
Nursing homes
Independent living communities

Depending on their needs and desires, your loved one may prefer one setting to another—if they’re open to the idea at all. Certain choices may ease their transition process, encouraging them to embrace change over time. If your loved one isn’t interested in an assisted living facility, for example, a home-based option—where caretakers assist with cleaning, cooking, and more private personal care needs—may be a good alternative.

Similarly, day centers may serve as a meaningful stepping stone to independent living communities or nursing homes. Of course, when it’s time for assisted living, there’s little doubt that these changes are necessary. Still, there may be resistance, which is why approaching the topic with compassion and sensitivity is so important.

Pursuing long-term care can be a gradual transition that starts at home. But it’s a decision that can drastically improve your loved one’s quality of life—especially given the drawbacks of getting by on their own or receiving devoted care from family members.

It is also important to understand costs and how to pay for them via Medicare, Medicaid, income, assets, and insurance.

Is It Possible to Delay the Need for Long-Term Care?

There’s no guarantee that your loved one won’t need long-term care at some point. That’s why it’s never too late to start planning for costs and live as healthy as possible, which can delay or even prevent the need for care in the future. The sooner you start, the better!

Here are some great ways for aging adults to adopt a healthy lifestyle:

Frequent exercise
Puzzles and other brain games
A healthy diet
Alcohol in moderation
Avoiding smoking
Proper sleep

Nothing wipes out retirement faster than the onset of health problems—which is why staying healthy is one of the smartest financial investments a person can make.

My Loved One Isn’t Ready for Long-Term Care. What Happens Next?

You’ve approached your loved one about entering long-term care, but they feel it isn’t the right time. What should you do?

Try to understand. Your loved one will likely appreciate your concern but let you know they’re capable of performing ADLs. They might also maintain that any assistance from family members, such as driving or housekeeping, is minor and not medical. However, this discussion is an opportunity to discuss their wishes for the future and organize finances, estates, medical directives, and power of attorney (POA). During this conversation, everyone involved can determine their roles when the time comes.

Discussing Long-Term Elder Care: Key Takeaways

Long-term care planning with your loved one can be intimidating, so you should navigate the conversation with sensitivity and respect. Ultimately, you want what’s best for your loved one—both now and in the future. You can thoughtfully convey that message and ensure all parties are on the same page by following these steps.

Concerned about the costs of long-term care? Life settlements, which involve the sale of your loved one’s life insurance policy, can provide the financial security you’re looking for. These proceeds can be used for any purpose, including long-term care. In some situations, there may be tax advantages. By pursuing a life settlement, your loved one can receive about four times the cash surrender value of their policy—a significant addition to their retirement income.

If your loved one is ill, you may want to consider viatical settlements, which are life settlements for those with chronic or terminal conditions. Though each situation is different, viatical payouts tend to be higher, and—for certain patients—are entirely tax-free.

Seeking out the best long-term care option can be challenging: after all, each one meets a distinct set of needs. We hope this page can serve as a beginner’s guide to navigating long-term care—its benefits, costs, and timelines—and help you locate the best fit for you and your family.

View Transcript

Retire like a genius. How to become a long-term care genius? How to know when it’s time for long-term care? Most people avoid discussing the topic of long-term care and don’t plan for it and many will fail to recognize the signs that long-term care is now needed when the time has come. People tend to be in denial when it comes to the potential for long-term care supports and services either for themselves or a loved one. So be on the lookout for clues that a loved one can be giving if you’re spotting deterioration in any of these three areas. One physical deterioration look for rapid weight, loss loss of mobility, loss of strength or endurance, and signs of injury such as bruises or lacerations. Two cognitive deterioration look for loss of memory, signs of confusion frustration and outbursts, mixing up timelines, and mixing up people. Three environmental deterioration look for signs that the home is messy and disheveled that there’s signs of damage around the home or items are strangely out of place around the home which once was well kept and well organized. As loss of ADLs start happening some people may not even realize it’s happening to them or a loved one. What are ADLs? There are five key activities of daily living that if a person is unable to do independently it’s a sure sign that the need for long-term care has arrived. The five ADLs are showering and bathing, dressing, toileting, eating, and mobility. People often find themselves in the position that they have become a caregiver without even realizing it. They fail to recognize that the need for professional long-term care has arrived and sometimes a loved one is hiding the reality from their family. Recognizing the signs that someone needs care and that family members may have become care providers themselves will ensure that everyone’s needs are being met. Retire like a genius. It’s always best to work with information and experts to help you navigate these tricky issues so visit retirement genius today to learn more about how to retire like a genius.