Financial planning for home care needs helps seniors and their families better prepare for the future and unexpected medical events.
ComForcare Home Care encourages seniors and their families to start making long-term financial plans early. As the baby boomer generation continues to age, adults are entering their retirement years faster than ever before. Some seniors have planned and prepared for this time, but others may be challenged by unemployment, unexpected losses, or family and medical emergencies.
Meet with a Professional
Alicia Junghans, the owner of the Kent County ComForcare Home Care franchise in Grand Rapids, Michigan, encourages people to meet with a financial planner to arrange for long-term medical and care plans while they are healthy. She suggests seniors keep in mind unexpected needs for nursing home care or home health care assistance.
Junghans commented, “The cost is worth it, and it will pay for itself in the long run.” She also encourages seniors to set up their power of attorney and other legal arrangements and to have a conversation with their families to communicate their decisions.
By being proactive about financial planning, seniors can spare themselves and their family a lot of anguish if an unexpected medical emergency occurs or they find themselves in need of home care services before they planned.
Where to Start
Making legal and financial plans can be daunting for some families, but it is a necessary step and has long-reaching benefits. Making these important decisions in the middle of a medical crisis or emergency only adds stress to an already challenging situation, and can cause confusion and frustration for some. Often, family members step up to provide home care for their aging parents, but it can be difficult for many as families become more fragmented and live at a distance from each other.
Ways to start the planning process include having a conversation about the type of elderly care seniors expect to receive, how it will be provided, and how it will be funded. Families can create a written plan of action regarding home care responsibilities and financial plans and assistance to ensure everyone is on the same page. Also, financial aid is provided by many different agencies, and can be accessed with a little preparation.
About ComForcare Home Care
Home care is a big responsibility, and no family has to go through it alone. There are resources available for every level of care. ComForcare Home Care offers part-time and full-time home care services and works with clients on an individual basis to meet their specific needs. Whether you are a full-time family caregiver who needs respite assistance to care for personal needs, or a long-distance child looking for a responsible and professional home care service for aging parents, ComForcare Home Care can help.
ComForcare is a premier provider of private-duty, non-medical home care services to people of all ages, with offices located nationwide. Each office employs experienced, compassionate caregivers who make life easier for those coping with a chronic medical condition, recovering from an illness or injury, or dealing with the challenges of aging – in the comfort of their own home. ComForcare offers home care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302