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What’s Your Plan?

What’s Your Plan?

Life goes by quickly, and sometimes it’s hard to imagine getting older and needing help doing the things one does on a daily basis. But the reality is that one will change if one is fortunate enough to age. The vast majority of older adults want to remain in their current homes as they age. However, most have not given a lot of thought about how to make their wishes become a reality. To age successfully at home, it’s important to be proactive and have a plan. This plan should include home modifications, power of attorney agreements, advance directives, and a plan to pay for and coordinate care when needed.

Some individuals may feel they don’t need a plan because they have a family member or friend who will provide everything they need. However, has thought been given to whether or not the person who will be providing the care is able to do so? They may have their own health issues, other obligations, or are unprepared to navigate the complicated healthcare system. Not to mention the burden that caring for an aging individual can create.    

Many individuals do not think about what care they may need until they are in a crisis situation with an immediate need for care. As a result, quality care options can be limited. This is especially true in the current long-term care environment, as workforce challenges have forced a reduction in care availability due to a lack of available caregivers.

Too frequently, older adults believe they have a plan because they have Medicare and possibly even long-term care insurance. Unfortunately, they may not have a clear understanding of how Medicare and long-term care insurance work. They do not understand the coverage limitations, requirements for payment, and out-of-pocket costs associated with these insurance plans.  

Lastly, many individuals believe there is plenty of time to make a plan because they are still in good health. However, there are no guarantees of future good health. Unexpected health events happen.  Planning when one is still in good health is the best way to ensure good outcomes when unexpected events and declines in health, both physical and mental, occur.

Does putting a plan in place seem too overwhelming? The experts at Pathstones by Phoebe can help. Pathstones works with individuals to discuss their individual circumstances, concerns, and most importantly, their wishes on how and where they want to age. Pathstones is a plan for life, both when one is well and when one is at the end of life.

So what’s your plan? Does it include all that it should? Not sure? Talk to an expert at Pathstones to discuss your plan, including a review of your long-term care insurance if you have it. Planning for aging is more than just having the financial resources to pay for care. Accessing and coordinating care also need to be a part of the plan. Talk to Pathstones today to discover what may be missing from your plan!