Financial Assistance

Early planning is an essential step in the preparation for elderly care. No one can project their future health care needs, but more often then not, the elderly and their loved ones are forced to undertake the burden of “crisis management” to find resources to assist them when the need arises.

Of course, the elderly have counted on Social Security, Medicare and Medicaid.  But too often these resources do not fully fund the needs for the elderly and the different levels of care that may be needed. Financial aid for veterans is available for those who qualify. Long-term Care Insurance is a resource that the elderly can investigate.

Nationwide, it is estimated more than 8 million family members are providing unpaid care for loved ones 50 and older living in their household.  Many who are providing constant care say that it poses a financial hardship, according to a survey conducted in 2004 by AARP and the National Alliance for Caregiving.

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