Information	Questions	Summary

Long Term Care:

 

 

> Reasons to Seek Long Term Care

    ~ A Better Life

    ~ Assistance

    ~ Skilled Nursing Care

    ~ Activities to Reduce or Eliminate:

        * House Cleaning

        * Food Shopping & Cooking

        * Home Maintenance

        * Vehicle Ownership

    

    ~ Amenities to Enhance:

        * Close Access to Health Care

        * Exercise and Fitness Options

        * Entertainment

        * Social Environment

 

> Facility Cost Structure

    ~ Entrance Fee: A one-time, flat  fee usually paid at the contract signing. 

    ~ Monthly Fee: A monthly fee, usually based on the accomodation, i.e. an apartment, a house, a private room, etc.

    ~ Ancillary Fees: Monthly charges for amenities not included in the basic monthly fee, i.e. additional meals not covered, laundry, medication assistance, etc.

 

> Contract 

    ~ Outlines the relationship between the facility and you.

    ~ Protection for the facility and you.

 

During our investigations, as we spoke to people about senior care, occasionally there were warnings and stories of facilities that, “… make you sign over everything you have: bank accounts, CDs, the house, all your pension and social security benefits.  You will be left with nothing and you won’t be able to get it back and leave!”  Well, let’s take a second and address this.  In my opinion, if any facility asks you to transfer control or ownership of your assets, smile, stand up, grab the nearest lamp and wave it menacingly over your head as you back out the door.  Then run away and never come back.  Okay, I am kidding, but only about the lamp.  In my investigations, I did not encounter any facility that tried to seek control or ownership of my mother’s assets as a condition to be approved as a resident. 

If that type of facility exists, and if you are considering such a facility, I would strongly advise you to compare it with others that do not require ownership, or direct control, of your assets and income.  However, if you have no family, friends or any person who can legally act on your behalf, you may feel this type of facility is right for you, please consult your gerontologist, attorney and/or financial advisor before making that decision.

If you are already in a facility and become incapable of handling your financial affairs, and have no family, friends or any person who can legally act on your behalf, then a facility may seek to become legally in control of your finances.  Your contract should address this possibility.  Remember, it is best to seek the advise of a gerontologist, elder lawyer and/or financial advisor on how best to deal with this issue.   

   

 

Let's use the information you've collected and compare the monthly costs of three senior care facilities!!!