Monthly Archives: March 2012

Tip to Get Your Elderly Parent to Want to Go to the Doctor

Nobody likes to go to the doctor. Well, nobody I know anyway. But sometimes it’s a necessity.

If you’re having trouble convincing an elderly parent to see a doctor, an elder-care writer who calls herself Dr. Chill has five suggestions for you at the website ChicagoNow. One tip is to pull out the old “what a great idea you had there” technique:

Caregivers with the gift of gab have found success with …Read more ›

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Pros and Cons of Walk-In Tubs

When mom or dad moves in, you’re bound to find unexpected joys … and frustrations. For example, consider the simple bathtub. What was once a place of peace and relaxation may become a lying-in-wait fall hazard.

Walk-in tubs and curbless showers help with this problem. They also help elderly people stay in their own homes. But there are pros and cons to them, says aging-in-place consultant Susan Luxenberg. The showers, for example, require plenty of …Read more ›

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Would You Use a Reverse Mortgage to Buy a House?

Older people looking to downsize have a creative financing option: a reverse mortgage. Rick Kahler, a financial planner in South Dakota, gives an example at his blog:

Here is how this might work: A couple own a house worth $300,000 with a $125,000 first mortgage. The monthly payment is $800. They would like to get a smaller home costing $200,000. One option is to sell the current home and …Read more ›

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Planning to Use Savings for Long-Term Care? How to Get the Most From Your Money

Yesterday, we pointed you to an article that gave tips on how to combat rising premiums for long-term care insurance. But if you have some savings built up, you may find this Chicago Sun-Times article interesting as well. It talks about alternatives to traditional insurance.

One of the options is a combination life/long-term care policy, such as Genworth’s Total Living Coverage. The Sun-Times explains:

It leverages your savings to make …Read more ›

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Some Keep Coverage Even After They Stop Paying for Long-Term Care Insurance

Hopefully you haven’t noticed it personally, but just so you know, long-term care insurance premiums are on the rise. If, however, this cold fact has made itself known through your bank account (or your aging parents’), Reuter’s has some tips on what can sometimes be altered to get those rates down.

Here’s a tip you may not have heard: If you stop paying your policy while searching for a new one, you …Read more ›

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#ElderCareChat Recap 3/21/12: Travel tips for caregivers

Spring and summer are generally the heaviest travel months, but being a caregiver can certainly put a strain on the usual plans. As the conversation often circled back to the importance of planning ahead, there is no time like the present to start preparing for a summer getaway. (And plan a getaway you should, even if you’re a caregiver. It’s good for everyone to …Read more ›

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Surprising Tax Deductions in Continuing-Care Retirement Communities

It’s springtime! Yay! Which means, of course, tax season. Boo.

If you or your parents moved into a continuing-care retirement community last year, there is good news though. Part of the CCRC entry fee may be tax-deductible. Tax professional Robert Flach writes at the website MainStreet:

Any portion of the lump-sum entry fee identified in the residential agreement as a condition for the facility’s promise to provide lifetime medical care …Read more ›

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Long-Term Care Insurance Premiums Rising

Long-term care insurance rates have risen quite a bit, says The New York Times blog Bucks. If your elderly parents bought coverage they could afford at the time, they may be facing higher premiums now. The blog reports:

The American Association for Long-Term Care Insurance says its yearly analysis of popular policies offered by 10 big insurers finds that prices for such policies have risen by as much as 17 percent …Read more ›

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5 Creative Alternatives to Assisted Living

Creative minds think … diversely. As OurParents has reported many times, people are coming up with all sorts of ways to fit senior care into their needs. Now, The Wall Street Journal wraps up five of the creative alternatives people are trying instead of assisted living:

  1. Moving abroad for cheaper long-term care (after lots of research).
  2. Installing an in-law cottage in the adult child’s backyard. (OurParents has covered various …Read more ›
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Searching for a Nursing Home? Why Medicaid Matters, Even If You’re Not Using It

When vetting nursing homes for long-term care, ask whether they accept Medicaid, even if you’re not using it right now. That’s the advice from a Money magazine article.

Given the cost of nursing-home care, your parent may spend enough money to qualify for Medicaid in the future.

Once Dad’s resources are running low, he can qualify for Medicaid, the government program for low-income individuals (rules vary by state), so make sure your preferred facilities accept Medicaid …Read more ›

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