Rational Caregiving Tip #1: In-home care insurance: Pros & Cons

from When My Mother No Longer Knew My Name: a son's "course" in "rational" caregiving
by Stephen L. Goldstein, Ph.D. http://www.amazon.com/s/ref=nb_sb_ss_i_0_18?url=search-alias%3Daps&field-keywords=when+my+mother+no+longer+knew+my+name&sprefix=when+my+mother+no+%2Caps%2C257

The odds are unpaid family members will have to provide most
in-home care. But, because there may come a time when paid
professionals will need to assist them, it is never too early to weigh
the pros and cons of taking out long-term, in-home care insurance.

There’s a case to be made for getting it — or not. The care someone
needs may at first be minimal, lasting just a few hours, and the cost
may be manageable.

But the bill for 24/7 care can be astronomical.
When my mother needed round-the-clock care, we paid $400 per
day out-of-pocket, just for home-health aides. She had decided
against taking out an insurance policy. She only needed one-on-one,
professional assistance for a matter of weeks. But it still added up
quickly.

If she had paid thousands of dollars in insurance premiums
for years, it wouldn’t have been cost-effective for us.

In retrospect, we took a calculated risk and made the right choice. But we may
have been more lucky than wise. We could have faced a major
financial drain.

The lesson is to be prepared: Research your options
and plan ahead, especially for the unexpected, which can almost
be guaranteed to occur. And most important of all, know where the
money for long-term care is going to come from if it’s needed.

There are more than 75 tips in When My Mother No Longer Knew My Name: a son's "course" in "rational" caregiving, based upon a compelling narrative. Order your copy today from www.amazon.com, www.barnesandnoble.com, or www.hellgatepress.com, the publisher.