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long term care

Out-of-Pocket Spending for Senior Care: The Harsh Reality

“Three out of four Americans aged 40 years and older are not confident they will have the financial resources to pay for any needed care as they age,” according to the Scan Foundation. Up against the hundreds of thousands of dollars that long-term care can cost, it is no wonder Americans lack confidence when racking their brains for ways to pay for care. Perhaps the first solution that comes to mind is to pay for the cost of long-term care out of your own pocket. You don’t have to be a well-off, retired millionaire to consider this option. Many middle-income…

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Answer These 7 Questions When You Need Senior Care

Who are you, and why are you reading this blog? Maybe you’re a senior who knows you need long-term care. Maybe you’re a family caregiver who needs help supporting an elderly loved one. Perhaps you’re the child of an elderly parent who has shown a need for companionship that you know you cannot provide. You may be a senior coming to terms with your own limitations that are surfacing with age, and wondering about your options. Maybe you’re reading to find answers to questions that will help you navigate important care decisions. Regardless of your place or role in care decisions, here are seven important questions to…

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LTCI – Who Benefits the Most? Policyholders or Loved Ones?

Do you have a plan to pay for long-term care (LTC) services? Long-term care insurance (LTCI) helps protect a policyholder’s income and assets against the financial risk of an LTC event. While people may think policyholders benefit the most, LTCI can protect the whole family. LTCI benefits policyholders in many ways, including the following: 1. LTCI Protects Your Hard-Earned Income & Assets It’s no surprise that LTC services are expensive. According to Genworth’s 2018 Cost of Care Survey, it currently costs $48,000 per year to live in an assisted living facility. In 20 years, the cost is estimated jump to…

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Three Things Every Senior Needs

Amada Senior Care is committed to enriching the lives of seniors, and we believe the following three things are vital to seniors living happier, healthier lives. 1.  An Aging Plan Most seniors take steps to ensure they have a will in place should anything happen to them. However, only 25 percent of Americans have recorded their end-of-life medical wishes in a legal document. The problem with this is that more than half of patients are unable to participate in end-of-life decisions when they need to be made. The solution to this is creating an Advance Directive for healthcare, which can easily be…

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Navigating Long-Term Care Insurance for Your Parent

When you first noticed that your parent’s age was limiting them, what questions came to mind? Did you struggle to accept the reality of their aging or worry about their wellbeing?  Did you wonder what preparations were in place for their needs? Besides the questions you may have asked yourself, there is one question you must ask your aging parent: “Do you have a long-term care insurance policy?” After a health crisis, anyone may find they need long-term care. But since senior citizens especially are at a higher risk for debilitating health problems, they are more likely to need it. Long-term care…

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