Elder care frequently requires home care.
As people age, they often need additional assistance and care.
Sometimes their needs are more drastic and involve a nursing home.
Other times assistance and care can be provided at home.
Sounds like a good option, right?
According to a recent The (Plattsburgh, NY) Press-Republican article titled “Home health aide shortage leaves some without care,” there may not be enough home-health care workers available to meet demands.
One reason could be compensation.
In the health-care system in New York, home-health aides are paid the least.
In fact, they often earn less than $13 an hour.
Not a big incentive, especially given the higher cost of living there.
The work is physically demanding with preparing meals, bathing seniors and taking care of other needs.
It can involve late nights and long weekends.
Finances are also involved.
One concern is Medicaid. Rates have made it difficult for home-care agencies to survive and provide services.
There are already not enough home-health aides to meet demand.
As Baby Boomers continue to age, the shortage will only increase.
By 2025, estimates reveal that about 20 percent of the New York population will be seniors who are 65 or older.
In addition to a short supply of aides, payment is also an issue for some seniors.
Many seniors may be placed in nursing homes who could otherwise continue living at home.
There may be hope on the horizon.
It seems the government is concerned and may help agencies compensate employees better to keep them around.
This is not a guarantee though.
What can you do?
Start planning financially for your health care needs in retirement by working with an experienced estate planning attorney or financial planner.
Better yet, bring these professionals together to work as a team.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: The (Plattsburgh, NY) Press-Republican (March 4, 2017) “Home health aide shortage leaves some without care”