April 2008
Issue: Volume 1 Issue 2

Who wants to move when they don't have to?

Independence is probably one of your primary concerns. Who wants to move when they don't have to?

Fortunately, there are a number of ways to continue comfortably living in your own home, saving thousands over the typical monthly costs for nursing home care, that range anywhere from $1500 to $8000 or more, depending on the level of care needed. When you factor in the typical nursing home stay of two years, being able to remain in your own home can save you anywhere between $36,000 and $192,000!

Here are some areas where you can get help:

Assistance with home and health care, including meals, from either day or live-in help
Home renovations
Reverse mortgages
Transportation
Emergency alert systems

And the best news is that some of these are available at reduced cost — or free — through medical insurance (including Medicare/Medicaid), government agencies and/or private groups committed to helping the elderly and/or economically disadvantaged.

Where is the best place to find this information? Check with your state or local government to get contact information for agencies that serve the aging and/or disabled. Many have Web sites with information about companies and nonprofits who can help. And usually don't have a heavy-handed sales pitch designed to compel you to use specific services, unlike some sites you'll find on the Internet. Even if they don't have a Web site, you should be able to get a collection of numbers to call for help with whatever you need.

Assistance

Day care is one option. Some caregivers come to your home, whereas other programs pick you up for a day of attention that offers everything from meals and medical help to companionship. Home care costs around $20 per hour. Live-in care is more costly, typically priced at about $150/day.

Home renovations

Numerous nonprofits provide free or reduced-cost home improvements, including ramps and grab bars, designed to help seniors stay in their homes. Call your state or city to learn about government agencies that can offer referrals to these nonprofits.

Reverse mortgages

Short on cash? The federal Department of Housing and Urban Development offers federally-insured private loans called reverse mortgages that let you borrow against your home equity for anything from unexpected medical expenses to home improvements. Funds are available as a lump sum, monthly payment or line of credit. The best part? You don't have to repay the loan until you no longer use the home as your principal residence. Learn about the ten things you should know when considering a reverse mortgage.

Transportation

Getting around town is possible even if you can't drive anymore. Learn more about transportation options at the National Center on Senior Transportation site.

Emergency alert systems

Many seniors have an improved sense of security with emergency alert systems like our EARS™ system, which allows you to call for help even when you're not near a phone. These systems cost up to $35 monthly, but ours is available at pricing as low as $13.33/month.

Sometimes managing all these aspects of independent living can be overwhelming, but there is help available. Geriatric care managers work with these issues all day every day and can advise you. And it's entirely possible that your health insurance plan will pay for their services. Visit the National Association of Professional Geriatric Care Managers for more information and a directory.

April 2008Issue: Volume 1 Issue 2

Who wants to move when they don't have to?

April 2008
Issue: Volume 1 Issue 2