The Age-In-Place Plan.

The Age-In-Place Plan has been created to combine all the various programs available for seniors today into one comprehensive approach that promotes the aging-in-place process.  Using all your benefits is essential to age-in-place successfully, and we can show you how.  When you use these programs to address the physical, financial, medical and supplemental requirements of aging-in-place, then we can say:  Yes you can, with “The Age-In-Place Plan.”

The Age-In-Place Plan:  Physical Needs

In the past, when an older person had difficulty living on their own, it was a signal that it was time to move in with family or go to a nursing home. But for most people this is no longer the case. Today, you can to continue to live on your own for many years, even as you grow older  and begin to need help with everyday tasks. This is called “aging in place.”

When you develop a chronic health condition such as diabetes, arthritis, or Alzheimer’s disease, aging in place means more that just staying put. You need a place to live that is safe and fits with your abilities. As driving becomes difficult, it is important to have reliable and affordable transportation. A wide range of paid services may be available in your community. You may also want extra funds for family caregivers or for home modifications (such as a ramp or lift) that can extend the time you can live at home.

Americans of all ages value their ability to live independently. But without a plan for aging in place, it can be hard to stay in control of your life. Knowing your health risks and financial options can make a big difference in your ability to stay in a familiar place.

Some of the areas of the home requiring particular attention include:  entry ways, kitchen, bedrooms, bathrooms, lighting and the yard.  Click here to go to the “Free Report” page where you can request a free report about Physical Needs.

The Age-In-Place Plan:  Financial Needs

The bulwark of many retirement programs is the Individual Retirement Arrangement, better known as the IRA account.  Often created by a rollover from your qualified plan at work, IRA’s usually began life as a 401(k) or 403(b) or 457 program, or else they were self-funded by the self-employed.  Your IRA may or may not be supported by a pension, and Social Security income, too. 

But the point is, now the account maintenance is under your personal management, and it’s probably the most important financial account you own.  So its time to give your IRA the maintenance consideration it requires.

Would it shock you to learn that a great number of IRA’s – maybe even including yours – have some serious structural flaws in them?  Many IRA’s have real problems involving custodial agreements, and beneficiary designations, and investment designs.  Any of these problems can put your tax-advantaged accounts in real jeopardy. 

These problems cannot usually be corrected later; you must repair them during your lifetime, or your heirs may suffer the consequences when accounts are inherited.  Since the Internal Revenue Service does not allow for “do-over’s,” it is vitally important to learn now if yours is among the IRA’s with serious structural problems.

Click here to go to the “Free Report” page where you can request information about Financial Needs.

The Age-In-Place Plan:  Medical Needs

The intent to age-in-place in your own home for the rest of your life is a wonderful ideal.  But without a doubt, the biggest threat to achieving this worthy goal is the potential of a “chronic” illness.  “Chronic” means either deficiencies in Activities of Daily Living, or cognitive impairment, or a complex/unstable medical condition.  The AARP reports that 68% of all seniors will suffer from chronic illness in their lifetime.  So planning for this potential problem simply has to be part of everyone’s age-in-place plan, since it will affect MORE than two out of every three seniors.  Claiming to “self-insure” is simply delusional, and, as you will learn, truly untenable because of the spend-down requirement for government assistance.

The onset of a chronic illness will require doctor-prescribed, on-going and regular attention and assistance, at least occasionally and possibly even continually.  If not addressed properly, it can lead to future problems as serious as heart disease.  In certain situations a chronic illness may (initially) require hospitalization and/or a skilled nursing facility.  But this is not always the case, and even when required at first, the institutional confinement does not always have to be permanent.  Very often, chronic treatment can be provided in the home in an on-going basis -- when there are sufficient private funds available to pay for it.

In reality, having access to home treatment for a chronic illness is really the most important aspect of being able to age-in-place successfully. Medicare only offers limited coverage for home healthcare, and only for “rehabilitative” services.  And Medicaid requires the “spend-down spiral” which we simply do not advocate, recommend or support. 
Seniors need to become aware that the only dependable funding source for chronic illness comes from long-term health care insurance.  It covers treatment not only in skilled care and assisted living facilities, but also in adult day care and most importantly in your home.  In fact, long-term healthcare insurance is the best guarantee available that you will be able to age-in-place in your own home for the rest of your life.  Chronic illness is the biggest threat to aging-in-place, and long-term care insurance is the best protection to remain at home for life. If you’re one of the many people unaware of this great alternative opportunity, let The Age-In-Place Plan tell you more about it now.

Click here to go to the “Free Report” page where you can request a free report about Medical Needs.

The Age-In-Place Plan:  Supplemental Needs

The good news about supplemental needs for aging-in-place is that there are a number of valuable services from the Federal Government which can provide seniors with welcome sources of medical assistance or monetary funds.  A good example of medical assistance is the government’s supplemental benefit from Medicare’s Part C: the Advantage program, and Part D: the Prescription Drug Plan.  (More information is available about Medicare on the “Who We Are” page.)

Another government supplemental benefit every senior should know about is the new source of monetary funds from a loan against your home that you do not have to pay back for as long as you live there.  This is known as the Reverse Mortgage.

This web site has previously looked at Physical Needs, concerning the necessary house modifications required to make a home “senior-friendly.”  Such physical modifications require monetary funds. We also looked at Financial Needs to create distribution assets and Medical Needs for alternative protection against chronic illness.  These needs require monetary funds, too.  If you agree you need to look at your Physical Needs, Financial Needs and Medical Needs for aging-in-place, then you may have to look for a new source of monetary funds to pay for them.  After all, these valuable benefits have a cost.  Fortunately, the Reverse Mortgage can be your great saving grace.

The amount of cash you can get from a Reverse Mortgage depends on your age, your home’s value and location, and the cost of the loan. The loan you receive against your home does not have to be repaid until you die, sell your home, or permanently move away.  Funds can be used for any use you desire.  All owners of the home must be 62 years old, and no repayment is required as long as you live there.  Reverse Mortgage borrowers continue to own the home, and it cannot be taken away.  Furthermore, you are guaranteed you will never owe more on the final settlement than the value of your home.  Any remaining benefits will go to your beneficiaries.

As the potential funding source for all your Physical Needs, Financial Needs and Medical Needs, you should investigate the Reverse Mortgage as the monetary source that truly makes aging-in-place possible.  Consult with Jay Cox for more information today.

Click here to go to the “Free Report” page where you can request a free report about Supplemental Needs.