Caring for Elders
At some point in your life, you may become responsible for caring for a sick or aging relative.
Caring for elders, sometimes referred to as long-term care, includes a wide range of services that are provided over an extended period of time to people who need help to perform normal activities of daily living because of cognitive impairment or loss of muscular strength or control. Elder care can include rehabilitative therapies, skilled nursing care, ongoing care, and social services, as well as supervision and a wide range of supportive personal care provided by family care givers and/or home health care agencies.
Elder care can be provided at home, in the community, or in various types of facilities, including assisted living facilities and nursing homes. Contrary to what many people believe, most long-term elder care is not paid for by Medicare regardless of where it is provided. Will you have the insurance coverage and resources to take this life challenge on?
DCU can help members who are caring for elders. We can help you:
Prepare for it – We can help you develop a strategy or plan for your retirement. Also, read up on retirement articles to help you sort out what you may need to plan for.
Research it – Regular health insurance policies, Medicare, and Medicaid supplement insurance doesn't cover most long-term care services. That's why you may want to check into long-term care insurance.
To find local services you may want, go to Eldercare Locator from the U.S. Administration on Aging.
DCU can help our members prepare for the days when they themselves may need care in their later years. We can help you:
Quick Links
Save for it – DCU provides you many safe and sensible options to prepare for your retirement or to help your retirement nest egg last longer. We offer insured products such as Traditional and Roth IRAs and Certificates, and SIMPLE and SEP plans. IRAs are federally insured to $250,000 by NCUA. Take a look at our Retirement Account options.
Fund it – A Reverse Mortgage can be another way to fund your daily living expenses after you stop working. It was designed for people who want to stay in their homes, have built up equity in them, and need to supplement their incomes.
Peace of Mind – Advance Directives are essential for all ages, but especially as you get older. This can be part of your Estate Planning, which DCU Financial can help you with. Estate Planning is not just about minimizing estate taxes and directing the disposition of assets after death, but involves health care, and personal finances as well.*
Another great resource is DCU's Retirement Central Service Center. Here you can receive practical ideas you can apply today to achieve financial security in retirement.
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