Population Health Management for Older Adults

Most people experience the highest number of healthcare interactions towards the end of their life. In fact, when a person experiences their final moments of life in a hospital setting, the resulting bill is typically in the five-figure range.

It makes sense. The older you get, the more medical needs you typically have. But these high costs are being experienced by people on limited incomes. Folks who rely primarily on their savings and government support to attain care.

This dynamic can make it hard for elderly people to get high-quality continuing care. While there are no perfect solutions to this problem, there are ways to effectively navigate the system and access the best possible care for the situation at hand.

In this article, we take a look at how to find continuing care for aging adults.

The Earlier You Start, the Better

Unfortunately, if you are looking for long-term care for yourself or a loved one who will be needing it right away, you may be too late to take advantage of some of the better programs that are available. For example, long-term care coverage.

Long-term care health insurance is exactly what it sounds like. You pay into a monthly plan, and then when the time comes, your insurance provider will pay for your long-term care needs. Depending on the terms of your coverage, you may even be eligible for affordable at-home help, a service that can cost several hundred dollars (or more) a day without coverage.

As you can imagine, insurance companies don’t offer these plans to eighty-year-olds who will probably be needing it in the near future.

However, if you can find an affordable and sensible plan, take advantage! These insurance products simplify your long-term needs considerably when the time finally does come.

Home health coverage may allow for assistance with everyday tasks, or even home nursing depending on the terms of the plan.

Understand the Types of Care

It’s important to understand that there are many different types of continuing care. This can include everything from independent living, in which the person in question lives essentially on their own, receiving help only when necessary, to assisted living, in which the person is given aid in their routine activities.

Ongoing care can take place at home, or in a care facility depending on the person’s needs. Navigating your options can be very challenging, particularly because cost is often the deciding factor. However, once you determine what type of care you would like to obtain, you can look for ways to make it work.

Note that many aging adults will have a variety of financial resources available to them that will help make care achievable. This will range from savings and investment accounts to pensions, home equity, and other types of revenue streams.

Before you get too overwhelmed by the cost analysis, take a look at all of the resources available. It may help to review the information with a financial planner to get better insights into the long-term feasibility of your intended care plan.

Research Government Assistance

There are many government programs that may provide financial assistance to aging adults seeking long-term care. Medicaid is certainly the most common resource for seniors with limited financial means, but there are other options as well.

Take a look at financial support opportunities specific to your state. There may even be grant opportunities available.

Veteran Benefits

If your aging relative served in the military, they may be eligible for VA benefits to help cover the costs of their care. While the VA won’t usually cover all aspects of long-term care, they may provide a stipend that makes it more affordable.

Look Local

Local financing options may ultimately be more effective than federal programs for several reasons. For one thing, there will be fewer people seeking the benefits, which will make it easier for you to interact with the organizations.

These funding or grant opportunities are also less competitive, and more specific to care opportunities in your region. Look for state programs, or local charitable organizations that provide support to seniors seeking elderly care.

Think Outside of the Box When it Comes to Living Arrangements

Ongoing elder care is an issue that many people have to grapple with at some point. It’s also one for which many solutions have been developed. Below, we look at a few common ways that people have managed elder care with limited resources:

• Elder relocation: Sometimes older people don’t need to live in a long-term care facility, but they also can’t go on living in their current location. For example, they may no longer feel safe or comfortable living in a city.

Whatever the reason, many elders relocate in their later years. Not only does this allow them to find a suitable community (for example, an apartment or condo where upkeep considerations are handled by a third party) but it also has the potential to allow expense reduction and even accessibility improvements.

• Aging in place: Aging in place is a concept that allows the senior to stay in their own home while receiving care and support. Depending on the situation, it can be more affordable than other types of care. Usually, the home in question is modified to make it more accessible. The elderly person will usually have family support for everything from errands to home upkeep.
   
• Family driven care: Some families make the decision to care for their aging loved ones themselves. While this choice can save tens of thousands of dollars, it isn’t always feasible. For one thing, it usually requires at least one person to be available around the clock. In certain cases, it may also require the family member to develop at least a cursory understanding of medical concepts and treatments. People considering taking care of an aging loved one should go in with the understanding that it will be difficult. The challenges are both physical and emotional.

Feelings of guilt, anxiety, and uncertainty are very common for people who are trying to find care avenues for their aging loved ones. It’s important to practice self-care as you navigate this difficult process.

There’s a reason airplanes advise you to put your own breathing mask on before helping someone else. You aren’t going to be much good to anyone if you are emotionally and mentally exhausted.