3 Resources to Ease Caregiver Money Worries

In a recent survey, AARP found that about three-quarters of all caregivers spend, on average, 20 percent of their household income on caregiving.

This is on top of the estimated $470 billion in unpaid care that they provide; and doesn’t include the potential lost income due to work-related strain that over half of caregivers report.

It’s clear that caring for a family member creates a financial hardship for many, and even a catastrophe for some; especially when caring for someone with dementia or Alzheimer’s Disease.

If you’ve experienced it, you know that there’s nothing worse than feeling financially strapped! Especially if you’re also feeling overwhelmed by caregiving responsibilities. So, if you are facing economic strain because of a caregiving situation, here are a few organizations that may be able to help.

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3 Medicare Benefits You MUST Know About

“What do you mean Medicare doesn’t cover this?” My friend Sarah was caught off guard when I told her that her parent’s health insurance program doesn’t cover her parents’ care.

What I explained is that there’s a lot Medicare doesn’t cover and one of the biggest gaps is the ongoing, long-term care that people need when they become frail or disabled.

This care is expensive! Hiring someone to help with cooking, laundry, transportation or personal hygiene can cost around $20 per hour!

So what do families do? Well, one of two things. They pay for this care out of their savings… or much of the time, DAUGHTERS PROVIDE THE CARE THEMSELVES.

In fact, new research shows that most of the really frail older adults in this country don’t live in a nursing home. Most live at home and the vast majority — 2/3rds to 3/4s — are being cared for ONLY by family members — unpaid.

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3 Powerful Ways to Avoid the Hospital

Americans have a love affair with hospitals.

We tend to think of doctors and nurses as the people who were working hard to make good grades while the rest of us were skipping class. I am pretty sure my brilliant, doctor friend Heather was walking around with a stethoscope at age four while I was still sticking Play-Doh up my nose.

This romantic affection for hospitals is not entirely misplaced. There are zillions of people who need life-saving surgery and who live longer because a hospital was able to treat them effectively. ERs in public hospitals handle an onslaught of some of society’s toughest cases; drug addiction, mental illness, and homelessness.

But, you don’t want to start your caregiver journey in a hospital.

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Medicare Therapy Rules Made Easy

Most of us take for granted that we can get out of bed in the morning and do all the things necessary to head out and face our day. You know… the simple everyday things like moving around our house, showering, getting dressed and eating breakfast. I might be a little foggy most mornings but I don’t think about whether I’ll face an enormous challenge in measuring out the coffee or pouring the milk. The point is the routine is just that…routine.

But if your parent is frail, you know that there’s nothing routine about these activities — that for them, doing even the simplest things just can’t be taken for granted anymore.

The mobility and functioning that’s essential to independence and safety suddenly becomes a big effort. And, Daughterhood really happens when we have to get involved in helping our parents do the things that they can no longer do by themselves. This is when their lives and ours get hard.

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A Go-To Guide For Understanding Your Aging Parents’ Rehabilitation

I was 30 weeks pregnant with my daughter when a routine doctor’s visit uncovered the fact that a disconnected placenta had cut her off from getting food and water. Essentially, she was starving in utero. Later that same day, my girl was born by emergency C-section weighing in at just over 2 pounds.

Her early birth kicked off years of specialized healthcare and education, most of which was therapy to help her walk, talk and manipulate the tools she’d need to do even the simplest things like eat, use a pencil, and play with her toys.

I’m happy to report that today she’s a strapping 5’7” teenager who plays softball and the piano. And, while her gritty personality had a lot to do with her success, so did the physical, occupational and speech therapists working with her.

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5 Dos and Don’ts for Staying Independent in Old Age

My inbox is filled with emails from caregivers trying to figure out how to pay for their parents’ care. They’re facing complicated and hard choices.

The big choices? Whether they should quit their job, move a parent into their home to avoid expensive care, or pay for care and risk running out of money. Or some combination of any or all of these.

That’s a really crappy set of choices.

We all agree that, regardless of your financial situation, it’s hard to be a caregiver… But, the truth is that it’s really scary to be a caregiver when you or your parents don’t have much money to pay for care….

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5 Common Misconceptions About Medicaid

I have a confession. I’ve been avoiding writing about Medicaid. It’s so complicated it scares me. But, Medicaid can be really important to daughterhood because someday you might have to decide if it’s right for your parent. So you have to get smart about it.

Here’s why Medicaid is important: It’s the safety net for when everything falls apart.  

When your frail mother has been caring for your Dad at home alone for five years and she can’t do it any longer. When 24 hour a day home care is too expensive and it still wouldn’t be enough to keep your dad safe. And, then when his nursing home care quickly depletes their savings.

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6 Features of Long-Term Care Insurance You’d Never Guess But Need to Know

It feels a little silly to be writing about long-term care insurance because only about 10% of the older adult population has purchased it.

But, it comes up a lot in conversations I have with friends and family… either they’re thinking of buying it or they or their parents have a policy that’s hard to understand.

Also, many, many women want to know… “What can I do to make sure I can pay for care when I need it?”

Because remember… as women, we especially face the possibility that old age will bring with it the need for a lot of help with basic life activities that we do for ourselves now without even thinking: like bathing, eating or dressing.

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The Top 3 Myths Most Women Believe About Paying for Long-Term Care

If you haven’t stopped to think about whether you’ll need to be taken care of when you are very old or how you’d pay for it, believe me, you are not alone.

But, if you are a woman, this is a question you cannot afford to avoid.

As Dr. Atul Gawande explains in his book, Being Mortal, “increasingly large numbers of us get to live out a full life span and die of old age.” Because of this, we live for longer periods of time needing help with basic life activities, like bathing, eating, and dressing.

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