During the years between 1946 and 1964, an inordinate number of babies were born. This was the postwar era, when the demands of the military were not as great, and family life returned to normalcy. This phenomenon is called the “baby boom,” and these babies are now entering their senior years.
As a result, there is an unprecedented aging of the population underway. Another interesting demographic reality applies to the age at which people have their first children. In 1972, the average age for a first-time mother was 21; now, it is 26 years of age.
What does this have to do with elder law? Keep these figures in mind as you continue to read this post.
Living Assistance
About 70 percent of all senior citizens will need help with their activities of daily living eventually. In-home caregivers are very expensive, and Medicare does not pay for custodial care.
In many cases, seniors will get the assistance that they need from their adult children. Families should definitely pull together in this matter, but a significant percentage of these adult caregivers are also parents in their own right.
These people are said to be members of the “sandwich generation.” It can be very challenging to wear two hats in this manner, and a lot of people are feeling the strain.
Balancing Your Time
There are no easy answers, but experts have emphasized the need to come up with a framework that makes sense to make the situation manageable.
You have to set boundaries around your time, because there are only so many hours in a day. In addition to making sure that you are there for your parents and your children, you also have to make time for yourself.
Once you gain an understanding of your capabilities, you can ask siblings and other relatives and friends if they are willing to pitch in if it is necessary.
Financial matters can enter the picture, and if you find that you are being pinched, you should be open about the situation with your parents, your children, and your siblings.
Counselors emphasize the fact that you should allow yourself to feel any emotions that arise without heaping guilt on yourself.
Professional Assistance
At some point, your parent may need a level of care that only a professional in-home health aide can provide. In 2019, the median annual cost for this type of assistance in our area was $62,920, and that figure speaks for itself.
Fortunately, there is a solution in the form of the Medi-Cal Home and Community Based Services Waiver. This program will pay for in-home care if you can obtain eligibility.
You are probably aware of the fact that Medi-Cal is only available to people with limited monetary resources. This is true for the in-home care program as well, but it is called a waiver because the requirements are not as stringent as they are for full-blown Medi-Cal coverage.
It is wise to speak with your parents about positioning their assets with future eligibility in mind. This can often be done without negatively impacting a senior’s quality of life during the period before they require living assistance.
Schedule a Consultation Today!
As you can see, there are some eventualities that loom large for people that reach an advanced age. This is not the most pleasant subject in the world to consider, but nonetheless, it is an inconvenient fact of life.
If you take the right steps in advance to prepare for potential living assistance costs, your family will be able to manage the situation in the optimal manner.
We would be glad to provide you with the insight you need to put the ideal plan in place. You can set the wheels in motion right now if you give us a call at 310-337-7696, and you can use our contact form if you would prefer to send us a message.
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