• Will my children be able

    to afford the care I need?

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Planning for Health Care in Retirement – Are You on the Right Track?

Are you planning for health care costs during retirement? If so, you may be like most people who are underestimating these expenses.

While Medicare Part A coverage is free for those who qualify, it only covers a portion of hospitalization. Other Medicare coverage is not free such as Medicare Part B, supplemental insurance, or prescription plans. In addition, you should consider other out-of-pocket health care costs when planning your retirement budget. It’s estimated Medicare will only cover 50-60% of your health care needs. The premiums and out-of-pocket costs will only continue to go up as time goes on.

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New Study on Caregiving and Its Impacts

Transamerica Institute is featuring a new study on The Many Faces of Caregivers: A Close-Up Look at Caregiving and Its Impacts. They surveyed over 3,000 non-professional family caregivers around the country to offer a better understanding of a caregiver’s duties. The study included the impact of caregiving on a person’s personal health, well-being, finances, employment, and preparations for retirement.

The research offers an in-depth analysis of caregivers by employment status, gender, generation, ethnicity, household income, whether they are the primary caregiver, and whether they volunteered to be a caregiver or not. Also included was information about their personal health and financial situation.

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A Look at the Rising Cost of Long Term Care

Genworth Financial recently released their annual 2017 Cost of Care Survey Findings. For 14 years, Genworth has examined and documented trends across the long term care services market. It’s not surprising that their results have found the costs for care services steadily rising over the years for home care, nursing home care, and everything in between.

To help you digest their new 2017 survey report, we’re providing an overview of their findings based on the national median rates for various care settings.

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How Technology Can Help with Aging in Place

Nearly 90% of seniors prefer to stay in their homes as they age, according to the AARP. As seniors begin needing day-to-day assistance, high-tech monitoring systems and other gadgets can help seniors age in place independently. These technologies also offer family members peace of mind knowing they can easily check on the status of their loved one. The following are a few aging in place technologies to help seniors stay at home longer.

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