Category: Senior Care

Doctor with crossed arms

How to Care for a Terminally Ill Family Member

If someone you love has just received a terminal diagnosis, you are likely in shock and not sure what to do next. One productive place to focus your energy is on learning more about the diagnosis, to prepare for protecting your loved one’s quality of life and ensuring his or her final wishes are honored. 

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Stressed senior man

Financial Help for Seniors in Debt

Debt is one of those problems that gets worse when you ignore it. Commit now to the first step of creating a budget — it’s easy and free. Then, let the numbers guide you to your next move. Your options include aggressive monthly payments, consolidation to lower-rate debt, full payoff via a life settlement or home sale, or bankruptcy.

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Meeting with doctor

How much does cancer treatment cost?

Assuming you have no health insurance, you could easily spend six figures chemotherapy, surgical procedures, prescription medications, and doctors visits. Some sources estimate a cancer treatment plan involving chemotherapy can range from $100,000 to $300,000. Specific to breast cancer, a mastectomy or lumpectomy alone — often required before chemotherapy begins — can cost $15,000 to $50,000. In terms of average cancer treatment costs, AARP estimates that patients spend about $150,000 in total. Where your costs fall relative to that average depends on the type of cancer you have and your treatment needs. 

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VA benefits

What is Considered Income for VA Benefits?

Understanding your eligibility for VA medical benefits can be challenging. To start, there’s a complex qualification system that considers service-related factors as well as your income. And, not all eligible veterans receive the same set of benefits. Your benefits package, for example, may range from limited healthcare services with full copayments to a broader set of medical and related services with no copayments at all.

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Holding someone's hand

How to Care for a Chronically Ill Family Member

The news that a spouse, parent, sibling, or child has been diagnosed with chronic illness stirs up a range of feelings, from guilt to grief. And then, before you’ve processed those feelings, you have to start addressing the practicalities of the situation. Who’s going to care for your chronically ill family member and how will your household adjust to this new reality, both emotionally and financially?

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Young and senior women in a retirement community

How to Find the Perfect Caregiver

Whether you need full-time care, part-time care, or occasional respite care, choosing someone to look after your elderly loved one is a stressful process. You’re looking for a senior caregiver who can manage the details of the job — like cooking, cleaning, keeping medications organized. But caregiving is so much more than a list of household and helping tasks. It’s also an interpersonal role that demands compassion, patience, and excellent communication skills. 

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Money in hand

Planning for the Costs of Senior Care

One of the great unknowns for today’s senior is the cost of healthcare. Fidelity estimates that a recently retired senior couple will spend nearly $300,000 on out-of-pocket healthcare expenses — not including the costs of long-term care. That’s an alarming exclusion, given that long-term care is among the priciest and most commonly needed forms of senior healthcare. Statistically speaking, seven of 10 people will require some level of long-term care in their lifetime.

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Will and testament

End-of-Life Planning: 2020 Checklist

The end-of-life plan is your time to establish your legacy and shoulder the burden of difficult decisions — so your loved ones won’t have to. Those decisions involve your health care, your financial assets and liabilities, your funeral arrangements, and, the culmination of these, your overall estate plan. This checklist walks you through end-of-life discussion points on all four topics and summarizes the key end-of-life planning documents you may need.

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Piggy bank

What is the Cost of Adult Day Care?

You want the best care possible for your elderly parent, but you don’t have the bandwidth to provide it around the clock. You’re not alone. Hundreds of thousands of families around the U.S. need some form of supplementary care to help with elderly relatives who have physical or cognitive impairments. If your parent isn’t quite ready for full-time nursing home care, adult day care might provide the support you need.

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Senior woman and daughter

Assisted Living vs. Nursing Homes: Criteria, Services, and Costs

According to research by the National Institute of Health, there are about 1.5 million elderly adults above the age of 65 in nursing homes and 1 million in assisted living facilities. This population group of 65+ individuals is growing rapidly as 10,000 baby boomers turn 65 each day. In fact, the group has grown by 34.2% over the last decade and is expected to continue growing at a rapid pace meaning more and more people will require care in an assisted living or nursing home.

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