Caring for Your Aging Parents
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| | Housing Options for Aging Parents
| In-Home Care
| Assisted-Living Facility
| Nursing Home
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| When to consider
| Parent can live independently but needs some assistance
| Parent can live independently but needs some assistance
| Parent can't live independently and requires regular
nursing care
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| Types of care provided
| - Medical care (nursing or health aide)
- Household help
- Companion or caretaker services
- Meal delivery
- Transportation
| - Rental rooms, apartments, or houses
- Housekeeping services
- Meals
- Social activities
- Transportation
- May provide limited health-care services
| - 24-hour access to medical care
- Custodial care: some help eating, bathing, dressing,
or taking medications
- Skilled nursing care
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| Potential advantages
| - Can remain in familiar surroundings
- May be less expensive than assisted-living or
nursing home care if limited services are needed
| - Staff available 24 hours a day
- Social interaction with other residents
- May have home-like atmosphere
| - Social interaction with other residents
- Access to round-the-clock medical care
- May have special care units for individuals with
Alzheimer's disease or related conditions
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| Potential disadvantages
| - Strangers in home
- Can be difficult to coordinate care
| - Limited privacy
- Long waiting lists
- High fees for extra services
| - Limited privacy
- Long waiting lists
- Very expensive
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| What you need to do
| - Assess hazards and functionality of home, renovate
if necessary
- Check credentials of agency or individual providing
service
| - Research facility thoroughly
- Consult an attorney before signing a contract
| - Research facility thoroughly
- Consult an attorney before signing a contract
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| IMPORTANT DISCLOSURES
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual's personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
This communication is strictly intended for individuals residing in the state(s) of CA, CT, FL, IL, IN, MA, MI, MO, NC, NV, NY, OR, PA, TX and WA. No offers may be made or accepted from any resident outside the specific states referenced. |
| Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2024. |
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