There may be various dementia memory care in Houma, LA but they may also vary in terms of their affordability. This is one of the reasons why some families choose to keep their aging loved ones at home even when they are already showing early signs of dementia. They do this as long as they can without taking into consideration the possible effects.
Do you know that memory care communities can offer a better way of caring for your loved ones and may even extend their quality of life and living? If you are concerned about the cost of memory care, then you should note that they are really higher compared to independent living and assisted living. It is because a specialized training for the team members are necessary to give the best care for your loved ones. There are various resources where you can get financial assistance to cover some of the cost of memory care for dementia.
Health Insurance
Health insurance may cover some or most of the cost of memory care depending on the policy details. You can help your loved one avail of long-term insurance. Just make sure that you avail of this as early as possible to get the coverage that you need. There is a likelihood that the insurance coverage may be denied if your loved one has already manifested long-term memory care needs upon application.
Work Benefits
If your loved one is still working, make sure to check their work health benefits. Look at the policies for paid sick leave, medical benefits and even disability benefits. This way, when the onset of dementia happens, there may be potential short-term health benefits that your loved one can avail of.
Work benefits also include retirement benefits. Check the retirement plan of the company because this can offer significant amount of financial resource that can cover the memory care cost of your loved one. Also, look into a possible early retirement packages just in case onset of dementia will come before the age of 60.
Personal Assets
It is also important to be informed of your loved one’s savings, property and investments. These will be useful in paying for the long-term cost of memory care. These will also be great financial resources that can be used for costs not covered by insurance and work benefits. Just make sure to talk about the best way to convert these assets into cash to avoid conflicts. For example, a house can be a source of cashflow by renting it out instead of selling it. Stock investments can be utilized by withdrawing only the dividends.
Assistance from the Government
Educate yourself about which government programs provide financial care assistance for your loved ones with dementia. This usually entails preparation of pertinent documents to qualify for the assistance.
Support from Community
There are a lot of non-government organizations that may provide free services for your loved ones. They may be affiliated with memory care centers and have volunteers that provide transportations, respite care, meals and support groups.
