myLifeSite Blog Archives provides information and guidance on senior living, life plan communities, CCRCs, independent living, and closely related topics from myLifeSite.
Most retirees prefer to live in their home for as long as possible. The idea of “aging in place” and staying in your home can be symbolic of maintaining your independence. However, to paraphrase John Lennon, “life happens,” so it is wise to have a back-up plan.
Although Veteran’s Day was last month, I wanted to share some information about a valuable benefit for veterans and their surviving spouses.
If you qualify (see below) the Aid and Attendance Benefit can help cover costs you incur of long-term care at home or in a facility. As of 2014 compensation from this benefit is not dependent on service-related injuries and can provide as much as $25,000 or more in assistance, depending on your income level and whether you are married, single, or a surviving spouse of a veteran, or if you have any dependents.
As described in this New York Time article titled, “A Tiny Stumble, a Life Updended”, life can change in an instant for older adults who fall. Yet, quite often, the impact is felt by close family members as well. This article is a reminder of why it is so important for older adults and close family members- typically the adult children- to be in discussion about how such a situation would be addressed.
We are pleased to see LifeSite Logics mentioned in an article released in the St. Louis Post-Dispatch this morning titled: Retirement Communities: Plush Living for a Plush Price.
A recent Washington Post article highlights a new study revealing that if all unpaid family caregivers who are caring for an older adult were paid for their work the total cost would well exceed $500 billion annually. Additionally, many of these caregivers are paying out of their own pocket for various needs of their loved ones.
A popular question among prospective residents of a lifecare retirement community is whether or not to maintain existing long-term care insurance. It is a great question because, after all, a lifecare contract works much like long-term care insurance in the sense that the community guarantees long-term care services, along with all other services and amenities, for a flat monthly rate. The thought process is: why continue paying for long-term care insurance after paying for a lifecare contract that essentially covers the same thing? Before making a decision there are several important steps to take.
We were pleased to see LifeSite Logics’ Co-Founder, Brad Breeding, mentioned in USA Today this past weekend in an article titled, “Pros, Cons: Continuing Care Retirement Community.” It is a helpful article addressing a topic of ever-growing importance among prospective residents of continuing care retirement communities: financial viability of the provider.
For those considering a Continuing Care Retirement Community there is often some degree of confusion about the ultimate financial impact to the consumer of moving to a community that is private-pay versus one that is “Medicare-certified.” Within the context of long-term care Medicare certification is only applicable to skilled nursing facilities (SNFs), which are licensed in their respective state to offer 24-hour medical care provided by a registered nurse or rehabilitative staff, including procedures such as IV and drug administration, wound care, lab tests, physical therapy, and more.
While I advocate every day for the importance of consumer education and transparency in senior living, I also feel compelled at times to speak up on behalf of the industry. There are three important points that I think consumers should understand as it relates to the article.
Popular types of retirement communities include, but are not limited to, Active Adult Living, Independent Living / Independent Plus, and Continuing Care Retirement Communities (CCRCs), sometimes referred to as Full-Service Retirement Communities.