Prep For Care

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Preparing for Long-Term Care: Your Risks and Financial Options

By NATALIE JONES

Long-term care includes a number of services that are intended to help people live with greater independence when they can no longer care for themselves. However, long-term care can be expensive. On average, care costs $6,844 per month for a room in a nursing home, $3,698 for a unit in an assisted living facility, and $20 per hour for a home health aide. It’s important to plan for these expenses as early as possible, whether you think you’ll need long-term care or not. The Borrego Springs Senior Center presents some things you need to know about long-term care.

 

Start Planning ASAP

 

CNBC recommends that you start planning for your long-term care needs no later than the age of 50. That way, you aren’t left spending every dollar in your savings account to pay for your care at the last minute. Being well-prepared to handle the realistic expenses involved in long-term care will help you maintain your financial and lifestyle goals as you age.

 

Your likelihood of requiring long-term care depends on a variety of factors, from hereditary illnesses to your current lifestyle choices. First of all, find out if there are any genetic conditions that you should be aware of. For example, cancer, heart disease, and arthritis may be passed along through a family’s genes. The medical history of your immediate family members, such as your parents, grandparents, and siblings, is the most critical.

 

Next, take a look at some lifestyle factors that can play a role in your susceptibility to illness and injury in the future. These include your exercise and eating habits, stress levels, whether you smoke and drink, and how much quality sleep you get every night; click here to learn how poor habits affect your health as you age. According to Verywell Health, it’s never too late to make positive changes to your lifestyle. This means quitting smoking, adding more nutrient-dense foods to your diet, joining a fitness program, and learning stress-reduction techniques.

 

Falls are the number one cause of serious injury for seniors. Make sure you take every precaution to prevent these dangerous accidents in the home so you can avoid long-term care. Installing sturdy rails along hallways and stairways while replacing slippery flooring with non-slip options is highly recommended. In the bathroom, install grab bars and a night light. It's also a good idea to keep your floors uncluttered and free from bunching rugs to prevent tripping.

 

Your Options for Covering the Costs

 

Insurance

 

You have various options for funding long-term care, from using your personal savings account to getting a long-term care insurance policy. According to InvestmentNews, traditional long-term care insurance is losing popularity. Instead, many people are opting for combined life insurance and long-term care policies. This is a more flexible insurance option, allowing you to use the money for care. If not, the policy will provide your beneficiaries with a death benefit instead.

 

Medicare

 

Many seniors also rely on Medicare to cover hospital visits, prescription drugs, and medical expenses. Keep in mind that Medicare will not cover the costs of many of your long-term care needs, such as homemaker-type services and care facility lodging. Of course, it is still an invaluable tool. Make sure you stay up to date on any changes occurring to the plan you’re currently enrolled in. Remember, the Medicare Annual Enrollment Period (AEP) occurs between October 15 and December 7. This is the time to make any changes to your health and prescription drug plans so they better suit your needs next year.

 

Medicaid

 

Medicaid may also assist your long-term care costs, but only if you meet the strict eligibility requirements. Medicaid is specifically for people who are impoverished, so you must spend almost all of your assets before being eligible. Although you shouldn't strive for this goal, Medicaid can be a lifesaver if you run your savings account dry.

 

Importantly, don’t forget to communicate your care wishes to your family. Your family members may not be aware of the kind of care you desire. Keeping open conversations with everyone involved will ensure there are no surprises, prevent misunderstandings, and let everyone know what their personal responsibilities are.



The Stress of Retirement

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Common Retirement Stressors and How to Handle Them

By Rhonda Underhill

Senior life can be restful and relaxing in a lot of ways, but it’s absolutely not without its own unique set of stressors. Stress is certainly a natural part of everyday life, but it’s also true that stressful issues that specifically impact senior citizens can put them at risk mentally and physically. Seniors may have a harder time dealing with stressful situations, which is why it’s best to have plans in place that will help you to avoid or mitigate high-anxiety events that seniors sometimes have to face.

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There are a few different signs you can look for that indicate stress has started to take a serious toll, such as disrupted sleep schedules, changes in appetite or mood, unusual behavioral patterns, and weight loss. Whether you’re a senior or caring for a senior, check out a few of these handy strategies which can help you reduce some of the common stressors seniors face.

At Borrego Springs Senior Center, we hope to soon resume activities and programs that support senior health and help to relieve stress. Please consider making a donation, and feel free to contact us for more information about our center.

Change Your Mattress for Better Sleep Quality

Are you having a tough time getting to sleep at night? Do you suffer from chronic back pain? If these scenarios apply to you, it’s important to know that consistent lack of sleep can lead to greater stress levels (not to mention a slew of other health problems). In order to stay on the path to good health, you need to focus on treating your back pain. One way to do this is by purchasing a new mattress that provides proper support.

Before shopping for a mattress, keep in mind that not all beds are created equal. The right mattress can give you immense relief from your back pain, but you’ll have to choose one that suits your sleep style in order to fully reap the benefits.

Find Ways to Save Money on Medicare

Proper healthcare becomes a lot more urgent during retirement years, as health problems can present themselves more frequently, while the income that might make them easier to deal with gets significantly diminished. Medicare can become extremely important to a retiree, but it doesn’t cover everything.

One option is to enroll in a Medicare Advantage plan by going through a private insurance company. These plans can give you access to expanded coverage and increased benefits when it comes to prescription medications and dental and vision care, which can save you money in the long run. Signing up for a Medicare Advantage plan is a great way to eliminate some of the stress that can come from dealing with healthcare expenses during retirement.

Set Yourself Up with a Supplemental Income

When it comes to your finances, post-retirement living can be tricky. Limited income and increased healthcare costs can combine to make it difficult to figure out how you’ll make your money last. It’s not impossible, however, to live comfortably through your retirement, with the right strategies in mind.

Try supplementing your income with an easy job that can allow you to pull in extra money from the comfort of your own home. Online selling is a great way to make money, with options like eBay and Amazon making it easy for just about anyone to earn some extra cash from the comfort of their own home.

While setting up your supplemental income, it may help to put together a budget to see how you can apply this additional money to the areas that need it most. For instance, if you’re in debt, figure out how to maximize this income so you can pay it down. If necessary, get in touch with a debt relief specialist who can help you figure out a plan. That way, you can reduce the amount of debt you have in retirement.

Make Your Home as Safe as Possible

There’s something to be said for the stress relief that can come from eliminating safety hazards in the home. Falls become a much more pressing concern during retirement years, which is why a safer home can go a long way when it comes to eliminating undue stress. There are plenty of ways you can make your existing home safer, adding safety features like extra lighting and grab bars to eliminate fall risks.

Downsizing might be a good option, as well. Moving into a smaller home can not only eliminate safety hazards, but also cut down on living expenses in a way that really helps to ease your financial burden.

Eliminating Stress Doesn’t Have to Be Difficult

As you make your way through your retirement years, there are many effective ways to cut down on common stressors. Unsurprisingly, many of them have to do with health and finances, either directly or indirectly. As such, finding ways to help yourself deal with either issue is almost guaranteed to help you reduce unwanted anxiety.

Assisted Living?

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Making the Move to Assisted Living:

Photo by RODNAE Productions from Pexels

Photo by RODNAE Productions from Pexels

What Should You Do With Your Current Home?

Are you ready to make the transition to assisted living? No doubt one of the questions swirling around your mind is about what to do with your home -- should you sell it or leave it in the care of a family member? There are a few things you should consider before making such an important decision. Let’s take a look:

Sell?

A 2016 study found that 52 percent of adults aged 65 or older today will need long-term health care at an average cost of $138,000 -- and 50 percent of those costs will be paid by the person’s family. This means you’re going to need at least some capital when moving into assisted living, and selling your home can give you that option. It will allow you to put a lump sum of cash toward those extra expenses, without the added headache of dealing with your primary residence once it’s out of your hands. One thing you have to remember, though: You will need to front the cost of fixing it up so it’s ready for sale.

Rent?

Another option you should consider when looking into options for dealing with your homestead would be to rent it out to willing tenants. There are plenty of opportunities for senior citizens to rent spaces, even, and your home might be a perfect match for that.

Keep in the family?

The other option for moving ownership of your home when you move into assisted living is to leave the management of the space to a close family member or child. Several financial issues should be at the front of your mind if you decide to go down this path. First, you need to determine if this home will confer a tax burden on your child. If you give the home to them via your will, versus while you are still living, they may pay less in inheritance taxes. You can also consider giving the property to your child as an outright gift. 

Do your research first.

If you are ready to take the leap and sell your home, you need to be aware of several defining factors as you make your decisions. For instance, take note of the average cost homes sell for in your area in the current market. Homes in Borrego Springs, for instance, usually sell for around $231,000 at a median rate of 53 days on the market. If this is an agreeable number for you, you may want to take advantage of the current market -- but make sure you consult the expertise of a realtor first. Ask if selling your home would cover the cost of assisted living expenses.

When you make your decision about whether or not you’re ready to sell your home or give it to a family member to watch after, the experts at Borrego Springs Senior Center can help take some of the worry away from where you’re going to get your next meal. Contact the Center today at 1-760-767-3116 to talk about getting a meal or about volunteering to deliver nutritional packages to your neighbors.

Special Deliveries

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Keeping folks fed in Borrego Springs!

AT&T donates $20,000

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AT&T donates $20,000 to Borrego Springs Youth and Senior Center to support relief efforts during COVID-19 pandemic

The effects of the COVID-19 are being felt near and far, and the work of organizations like ours has never been so important. As the needs in our community rise, we have been able to do more because we have help from our partners. Contributions to our work have been essential to our ability to scale our efforts and continue serving those in need.

With AT&T’s support, Borrego Springs Youth and Senior Center is to help our region’s most vulnerable members – including members of our senior community. The funding has also helped our organization in providing meals and medical equipment for our seniors.

Across the state, AT&T California has contributed more than $3.5 million to community-based organizations that are providing relief to residents from under-served communities, front line health workers, public safety groups and small businesses that have been impacted by the COVID-19 pandemic.

“AT&T is committed to making a difference for those who have been so affected by the COVID-19 pandemic,” said Rhonda Johnson, President-AT&T California. “Our dedicated employees at AT&T are working around the clock to keep our customers connected to their families, friends and colleagues. This giving effort is one more way that our employees are supporting our local communities.”

We’re grateful to be part of AT&T’s COVID-19 giving to frontline organizations throughout California addressing social and human services, distance learning, and public safety.  

Thanks so much,

John Osborne, AT&T

Late Summer Info

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Maybe there’s a reason we’re offering Caesar Salad on the 11th?

It used to be called, simply, “Sextilis” by the Romans, but 2,000 years ago the emperor Augustus decided to flatter himself and renamed the month “August.” Much like his great-uncle and predecessor Julius Caesar had done with July.

The emperors really liked to have fun with the calendar, apparently. Their new names have kind of stuck around for awhile.

We hope you’ll stick around too and enjoy our senior meals program this upcoming 8th month of the year. Here’s the menu!

(click to enlarge)

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Candlewood Art Festival

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The Candlewood Arts Festival celebrates the connections between art, community, and our shared environment in the dramatic landscape of Borrego Springs, California. Throughout the month of March 2020, experience newly commissioned site-specific works of art — sculpture, installation, performance, and photography— and family-friendly art making workshops in this unique community surrounded by the Anza Borrego Desert.