This month marks Long-Term Care Awareness Month. We have the knowledge and tools these days to live healthily and happily throughout our lives. But as we age, we need to invest more in our health. That’s why it’s crucial to understand how to properly seek out and receive long-term care when it comes time to adjust your living situation to accommodate your needs.
Long-term care is a set of services that help individuals maintain their health and independence. Long-term care can be found at a variety of locations and through a range of caregivers, depending on a person’s individual needs. Long-term care refers to care provided by a range of caregivers in a variety of settings. Long-term care may be provided at an adult day care facility or a nursing home for example.
Long-term care also includes health and personal care provided at home. Homecare usually offers a wide range of services that help individuals stay in their homes if possible and retain as much independence as they can. Long-term care is usually offered in a facility or at the individual’s home. In addition, long-term care is sometimes provided by a family member in their home instead.
Most home-based services involve personal care, such as help with bathing, dressing, taking medications, and supervision to make sure a person is safe. Family members, partners, friends, and neighbors usually provide this type of care unpaid. While bringing on a specialized long-term care nurse is likely a prudent decision, factors of trust and cost may prevent a family from hiring a nurse for long-term care.
If a family opts for home-based long-term care services provided by paid caregivers, it will likely include caregivers found informally, and healthcare professionals such as nurses, home health care aides, therapists, and homemakers, who are hired through home health care agencies. These services include home health care, homemaker services, friendly visitor/companion services, and emergency response systems.
Long-term care comes with expenses as well. You may have Medicare coverage, annuity riders, or have simply budgeted for the expense. Either way, long-term care is important for maintaining your health in later years and is thus important to budget for.
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Long-term care can become a major expense and can sometimes come out of nowhere. A financial advisor may have the tools you need to protect yourself from surprise costs and help cover the costs of long-term care. To get started with a financial professional, contact us at (540) 720-5656.
Amy Anderson joined the ILG Financial team in 2023 as the client relations coordinator. Her responsibilities include scheduling of appointments, annual check-up notifications, and annuity and required minimum distribution assistance. She is a graduate of Harding University with a degree in Computer Information Systems. Amy and her husband have two children and she enjoys reading, crocheting, music and spending time with her family.
Chase Lopez joined the ILG Financial team in 2020 as an advisor. Chase is a 2016 James Madison University graduate with a degree in management. Chase has been trained under the tutelage of Dave Lopez, who is not only the founder and managing member of ILG Financial, but also is Chase’s uncle and godfather. He also enjoys working alongside his cousin, Megan, who is Dave’s daughter. Chase, as a fiduciary, believes in putting his clients interests first, and building out plans for his clients where they can have a happy and fruitful retirement. He married his beautiful wife in February 2022 and both use most of their free time chasing around their little pup, Aurora.
Jessica Carson joined the ILG Financial team in 2018 as an agent. Jessica and her husband have four children, two dogs, 3 barn cats, 5 chickens, and three parakeets. She indeed loves her children and pets! When not at work, Jessica enjoys playing the piano and cello as well as traveling and spending time outside with her family, hiking, fishing, and boating.
Terri Center joined the ILG Financial team in 2019 as client services manager. She handles client records, application processing, and gathering information to provide a professional and friendly experience with all of our clients. Terri is a graduate of Oakland University. She is married and has two children. She enjoys hiking, family time, and puzzle challenging video games. She also likes to share her creativity in her canvas paintings and sewing projects.
Megan Jones joined the ILG Financial team in 2020 as marketing director. Megan and her husband live in Fredericksburg, VA with their German Short Haired Pointer, Gus. Megan is a graduate of Longwood University and holds a degree in communications. Megan is the oldest of Dave Lopez’s three children and not only enjoys working alongside her father, but also with her cousin, Chase, who joined the ILG Financial team in 2020 as an advisor. When not at work, Megan enjoys sitting on the back porch with family and friends enjoying food and music.