National Family Caregiver Month (NFCM), occurs every November to honor and recognize family caregivers across America, and with that comes discussion of the costs of senior care.
During this month, we take time to raise awareness about the importance that caregivers play in supporting their loved ones and to advocate for the caregiver’s needs and well-being.
As you know, unpaid caregivers provide a significant amount of care and support to their loved ones. And the toll isn’t just financial, but physical and emotional.
The responsibilities of caregiving can be demanding and stressful. Moving a loved one into an assisted living community can provide relief for caregivers and allow time for other responsibilities.
Families in need of in-home care or assisted living should take the time during this month to start planning and saving early to cover the costs of senior care.
Our promise is to love and care for your family as we do our own.
The financial costs of senior care: in-home vs. assisted living
Choosing the right care for aging loved ones is as much an emotional decision as it is a financial one.
At-home care vs. residential care costs
Providing care at home might seem more intimate and personal, but it’s not without significant costs, both visible and hidden.
Family caregivers often face out-of-pocket expenses that can eat away at nearly a quarter of their income, not to mention the personal sacrifices they make in their careers and lifestyles.
If the caregiver is not from a licensed agency, liability risks also come into play. If the caregiver also wants to take some vacation time, it also leaves no one to fill their spot.
The economic argument for assisted living
On the other hand, assisted living and memory care communities bundle housing, care, and a suite of special services all under one roof.
It’s a comprehensive price tag that covers extensive needs, from meals to 24-hour medical supervision.
How to pay for assisted living and memory care
Assisted living and memory care communities offer a spectrum of care, but it’s important to know that quality comes with a higher price tag than in-home care.
Navigating payment options
For many families, the question is: How do we manage these costs?
The good news is there are several avenues to explore. Long-term care insurance is one of the primary methods that can help cover the costs of assisted living and memory care.
If a resident or their spouse is a veteran, they may be eligible for benefits through the VA’s Aid and Attendance program.
Life insurance policies can sometimes be converted to provide a stream of income suitable for covering care costs.
Additionally, reverse mortgages are an option for some, allowing seniors to tap into their home equity to pay for care without selling their home immediately.
Leveraging resources: getting help
Families shouldn’t navigate these waters alone.
Financial planners, elder care attorneys, and The Kensington White Plains’ knowledgeable team can guide you through the funding landscape.
Improving the quality of life for seniors and caregiver well-being
The Kensington White Plains isn’t just a residence—it’s a community that Promises to “love and care for your family as we do our own.”
Let’s learn how a community such as The Kensington White Plains can benefit your senior loved one.
Enriching senior life
At The Kensington White Plains, every aspect of our environment is designed to foster a fulfilling and enriching lifestyle for seniors.
Our dedicated and compassionate team of healthcare professionals is trained to provide for your loved one’s needs, ensuring each of our residents receives the right amount of support while maintaining their dignity and independence.
Uplifting and supporting local caregivers
For caregivers, the comprehensive care we provide to their loved ones at The Kensington White Plains offers profound peace of mind. Knowing that professional assistance is always at hand reduces the stress and worry that often accompany caregiving.
This support allows caregivers to reclaim balance in their lives, to focus on their own careers, interests, and well-being, which otherwise might be sidelined by an exhaustive caregiving schedule.
It redefines the caregiver relationship, allowing children to return to being sons and daughters, and partners to enjoy their time together without the weight of caregiving responsibilities.
Planning for the transition into a senior living community
Preparing for a move to assisted living or memory care, such as The Kensington White Plains, involves thoughtful financial planning and open, heartfelt communication.
It’s important to approach this transition with patience and understanding, allowing for a series of conversations where your loved one feels heard and involved in the decision-making.
This gradual dialogue ensures that the choice to move feels more like a shared new chapter, rather than a sudden shift, fostering acceptance and peace of mind for all involved.
Financial and communication preparation
- Review finances: Assess current assets, look into long-term care insurance, and consider potential benefits like VA Aid & Attendance benefits.
- Talk openly: Begin discussions early with your senior loved one, focusing on the benefits and their preferences.
- Visit together: Tour communities like The Kensington White Plains to familiarize your loved one with their future home.
The emotional journey and practical steps
- Acknowledge feelings: Recognize that feelings of loss are normal and be patient with each other.
- Personalize the space: Bring cherished items to make the new living space feel like home.
- Stay involved: Regular visits and calls can help ease the transition for everyone involved.
Support networks and resources for caregivers
Navigating caregiving is a shared journey, and The Kensington White Plains offers resources and events to help:
- Join support groups: Connect with experts and resources in support groups, for both caregivers and seniors to share experiences and advice.
- Utilize resources: Access tools and care information provided by The Kensington White Plains, from care planning to health services.
- Engage in events: Participate in community activities and educational events, particularly during National Family Caregiving Month, to build connections and gather support.
The Kensington White Plains: your partner in senior care
The Kensington White Plains is an enhanced assisted living and memory care community located in New York.
Are you a caregiver needing more support looking after your loved one?
Please contact our team today to start your journey into assisted living.
We’re here to help and answer questions you may have about the costs of senior care.