Showing posts with label aging parents. Show all posts
Showing posts with label aging parents. Show all posts

Elder Care Home Traps to Avoid

When I first started looking for a good quality elder care at home for my 85 year old mother, you could say I was optimistic.

My mother, as an aging parent, had a long-term care insurance policy.  It required that there should be a professional geriatric care manager who actively managed her case. He was supposed to look at what her needs for every month were, and build and maintain a plan for her.

But it didn't really work out well. The manager kept sending home health aides who were all quite unqualified. They were either unqualified or downright unwilling to work.

One would bring her phone with her, hook it to our Wi-Fi, and then get on Skype with her boyfriend for hours. She just wouldn't even look at my mother for hours!

Before there were geriatric or elder care managers that you had to go through, you only had to worry about finding good aides. These days, you have to worry about finding good geriatric care managers as well.

No state unit has any licensing requirements for geriatric care managers. Anyone who calls himself one can be one. And why wouldn't they call themselves one – it pays $100 an hour, at least.

But that's not at all that you need. A geriatric care manager really needs expertise. He's your go-between. He looks at your requirements and then talks on an equal footing with the medical, financial and legal professionals to get your parents the care they need.

But it isn't just incompetent care that you have to worry about. Not infrequently, these elder care home managers turn out to have criminal intent as well. You see, criminals everywhere know that elderly people are an easy target.

When you read about telemarketing fraud, often, you hear that these people call from other countries and they aim for the elderly.

They know that the elderly often live on their own, that they have their retirement funds, and that they're a bit anxious about how there isn't any income coming in anymore. They're completely open to anyone who says that they have a moneymaking scheme in mind.

Frauds and thieves are often attracted to any way they can get close to an elderly person and speak to him from a position of trust. They love the elderly care manager job because they get to speak to the elderly on a regular basis, win their trust and then get them to invest money in something or give the money for something.

Before you allow an elderly care manager in your home, make sure that they are members of the National Association of Professional Geriatric Care Managers. Also, do a background check. You can search Criminal Intel at Your Fingertips. Instant Records-Background Checks. 

Elderly Caregivers Get a Hand From Employers

Would you believe that one in six Americans today finds himself in a position where he has to take care of another adult? Doing so often comes at a heavy personal cost - elderly caregivers have less time and money for their spouse and children and one is less able to concentrate on work and get ahead.

As wonderful as it is that medical science makes it possible for the average American to live to be 80 or more, medical science often makes life extended in this way quite difficult to take.  Things are beginning to change a little bit now though; and the push for change comes from our employers.

Even 10 years ago, at a time when everyone thought that we were pretty far advanced in worker rights just because we had paternity leave for new fathers (just the way mothers have maternity leave). No one had ever heard of corporate benefits that granted elderly caregivers any time off or ones that provided caregiving referrals.

Believe it or not, one out of ten corporations in America now provides these. And that's a figure that's only set to rise.

To someone who is in charge of taking care of an elderly relative, one of the most important allowances they could receive for work is perhaps permission to telecommute.

When there are emergencies or when one happens to be in a situation where a parent just needs someone to be around all the time, being granted telecommuting privileges or flex time can be the greatest thing. 20% of America's companies believe that they plan to offer far more options to do with flex time in the near future.

Three out of four elderly caregivers report that they've had to quit working or change to a less demanding job to be able to provide an aging family member the kind of care they deserved.

Half of all elderly caregivers report that their family incomes are 15% lower than they would otherwise have been; and that they often lost a chance at a promotion because of the position they found themselves in.

To a country that's long been reconciled to giving up a career to be able to take care of an aging parent, such corporate empathy can be truly welcome.

Most of these options typically exist only for long-term employees who have a great relationship with their companies. Employees who work at skilled jobs that require competence and qualifications often find that their companies are willing to deal with them in these matters too.

Corporations like Intel, Deloitte, Price Waterhouse Coopers and IBM offer comprehensive eldercare benefits - which is the industry term for these benefits offered to employees.

Retiring and Have Aging Parents to Take Care Of?

These days, people can expect to live for so long that people in retirement have aging parents to take care of. People never used to have to deal with these problems before when people lived to about 75 only. 

It sounds like it isn't enough anymore for people to plan to support themselves during their golden years. They also need to find ways to support their parents – who often happen to be laid up with debilitating diseases like Alzheimer's.

It happens over and over again in households across the country. People approaching 60 happily plan out their retirement, setting aside enough money to buy their grandkids presents and travel to places, now that they finally have time and money.

And then, the parents of the retiring couple begin to have their health deteriorate. By the time the retiring couple reaches 65, they realize that the medical bills for their parents are thousands of dollars every month and there's going to be no retirement for them.

As the baby boomers reach retirement age at around 65, a large number of them find that far be it that their children should take care of them; they have parents themselves who need caring for. It's a crushing burden.

One out of five Americans cares for aging parents. And it's a number that's been rising steadily. Not only does caring for parents cost one money, it costs one time away from one's job for doctors’ appointments and so on.

Experts believe that every person over 50 will lose a quarter million dollars in lost wages and benefits caring for an elderly person.

One needs to find some kind of balance between caring for one's aging parents and looking out for one's own interests. Boomers approaching retirement do see the problem and they have been investing with a great deal of urgency, taking risks like never before for better returns.

Financial planners are often worried about how desperate they seem to make a little extra in returns. They suggest that caregivers need to set aside separate savings for these things and start when they are young.

They believe that these funds should be invested in dividend paying stocks so that they may use that kind of income for the care they gives.

Some people carelessly forego the tax savings they could get paying their parents’ medical bills themselves. They just write a check to the parent.

If they could instead pay the bills directly themselves, they could get a deduction on their tax return. They can also have lighten their capital gains taxes by giving stock as a gift to a parent.

Young people today need to look ahead and plan for this well in time. It could save so much money if one could get one’s parents to sign up for long-term care insurance early on.

At the very least, it could take care of nursing home fees which could run into tens of thousands of dollars a year.

Some people believe that they should just give up their jobs and be caregivers themselves so they can save on that money. But that doesn't make any sense. When one gives up a job, one only sets himself up for the kind of poverty those aging parents face.