Are you ready to care for aging family members? - East Idaho News
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Are you ready to care for aging family members?

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This story is brought to you by Visiting Angels, the area’s leading senior homecare agency with offices in Idaho Falls and Pocatello. Through a unique and fresh approach to in-home care, seniors in the eastern Idaho can now select their Angel and build a lasting relationship.

The Social Security Administration says a budget crisis is looming in the U.S., and based on population projections, they aren’t wrong.

On average, 10,000 baby boomers will retire every day until 2030.

That’s close to 4 million people a year who will start receiving Medicare and Social Security benefits.

With an increasingly older population, their care needs will be different than past generations, as they will need different types of care for longer amounts of time.

This crisis is already pushing many families into the role of caregivers, and many have no idea how they will accomplish it, even though 1 out of every 8 Americans aged 40 to 60 already are. They are raising kids and caring of their parents at home at the same time.

With so many responsibilities, now is the time to decide how to take care of aging parents or family members. Planning ahead can save lots of headaches and heartaches later on.

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Here are a few helpful tips to help you sail safely through these uncharted waters.

Make a plan

Who will take care of your elderly family members?

Do they wish to stay in their home? If so, who will provide the help needed to do so?

Would it be best to stay with a child or move into a retirement or assisted living community?

Looking at your family’s medical history can help anticipate possible medical needs down the line.

Create a care team that includes children, health care providers, and any possible medical assistants.

Asking questions now can help save a lot of time, money, and energy later on.

Review legal documents

It’s important to review aging family members’ legal documents.

W. Scott Holmes, CEO of senior home care company Visiting Angels of Eastern Idaho, recommends checking to see if there is a living trust or will in place. Does your family member have any advance directives? Has there been any end-of-life planning?

Many people have these documents drafted years before they need them, and may not remember the specifics of them.

Getting reacquainted with family members’ wishes comes in handy should a family member have a medical crisis occur or pass away unexpectedly.

Protect your piggy banks

From a financial perspective, has the family prepared funding for care needs down the line?

No matter what type of care is chosen, costs add up quickly.

Holmes also suggests researching supplemental resources like long term care insurance, veteran’s benefits, annuities and reverse mortgages to fill in gaps left by Medicare or Medicaid.

Consulting a financial advisor can help form the best plan for your family.

Being informed and knowing your options ahead of time can ease some burdens of caring for aging family members. By planning ahead, you can help provide the care your family member deserves for years to come.

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