Elder Money - Financing Long Term Elder Care
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The PositiveLights.org Web Site |
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and reports dealing with the financial and economic issues for various
sources of funding to help pay for the cost of long term care. .
The over 75 age group is the fastest growing age segment in the U.S. As the medical miracle workers find more ways to extend our life span, more and more of the elderly are faced with having to stretch their limited resources longer and their families are eventually faced with difficult decisions about retirement homes, assisted living facilities and eventually, nursing homes. Due to population demographics and life extending medical discoveries, future government funding is likely to be restricted and private funding will have to compensate for the reductions in government funding for the indigent elderly. Professional caregivers will be pressured to work for less and to do more -- and more volunteers will be needed to help with the care of the elderly. Family members may be required to contribute time and services in addition to money for private pay facilities. Information regarding the tax aspects of these sources of funds are discussed on the ElderTax web page. Legal issues are discussed on the ElderLaw page.
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