by Phyllis Mensh Brostoff, CISW, CMC – Aging Life Care Association™ Member and Fellow of the Leadership Academy
1. Long-term care is expensive, and there is a confusing maze of options when it comes to in-home and residential care. Financial managers must know the costs of long term care, in order to provide relevant guidance to older clients and their families.
2. Your prime directive has been helping clients save money. But when that “rainy day” comes, your clients may need your encouragement to begin to spend it. The savings you have helped them accumulate aren’t an end in themselves, but a means for your clients to be able to maintain a high quality of life, throughout their lifespan.
3. Clients and families are often unrealistic or over-anxious about how long their money needs to last. They project the cost of care for too many years into the future, without having a realistic understanding of their scenario. An experienced Aging Life Care Professional™ can provide you with relevant information to help you make the most accurate projections possible:
- How old is your client?
- How many chronic conditions does your client have?
- How many medications does your client take, and how compliant are they?
- Does your client live alone?
- Is their home an appropriate setting for them to “age in place?”
4. An Aging Life Care Professional completes an in-person assessment with every client, and can work with you to develop a realistic plan for spending those hard earned savings in the most efficient and effective way possible.
If you are working with a client who needs a broader scope of services, contact a member of the Aging Life Care Association to ensure finding a professional with the expertise and experience to provide appropriate support, resources, and services. Our members subscribe to the highest standards of practice and code of ethics. Find an Aging Life Care™ expert near you at aginglifecare.org.
About the author: Phyllis Mensh Brostoff, CISW, CMC, is a social worker and co-founded Stowell Associates 31 years ago in Milwaukee, Wisconsin which provides care management and home care services. She has written numerous articles and presented seminars across the country. Follow her on Twitter at @CareManagerMilw, connect on Facebook, or email her at firstname.lastname@example.org.
This blog is for informational purposes only and does not constitute, nor is it intended to be a substitute for, professional advice, diagnosis, or treatment. Information on this blog does not necessarily reflect official positions of the Aging Life Care Association™and is provided “as is” without warranty. Always consult with a qualified professional with any particular questions you may have regarding your or a family member’s needs.