Older Adults and Finances-Paying for Care

The facility I contacted is Camlu Assisted Living, located in Stockton, California. I had a wonderful experience obtaining information from the facility as the customer care was very detailed, friendly, and polite. She was willing to answer all my questions and sent additional information to my email.

The costs for every care provided range from $2195 to $2695, and the facility offers high-end amenities and quality services. The choices can range from a semi-private apartment to a one-bedroom or studio. Every unit has a kitchenette, emergency pull cords, air conditioning, individually controlled heating, smoke detectors, and safety grab bars in the bathroom. Care services include meal preparation, medication management, assistance with dressing, a mental wellness program, and 12-16 hour nursing. Additionally, the facility accepts Medicaid and provides financial aid to members who cannot pay the total amount. The criteria for this assistance is based on one’s financial situation.

Lack of financial independence is a significant problem for older adults as some of the facilities or resources needed for a living are quite costly (Coyle, 2020). The high cost of paid care and support is a major challenge for individuals seeking out-of-home care (Joint Center for Housing Studies of Harvard University, 2016). Most older adults and their families pay out-of-pocket for out-of-home services, which gets costlier over time (National Institute on Aging, 2021). Older adults can also face financial exploitation from their relatives, resulting in embarrassment and shame (Coyle, 2020). For single older adults without any family, there is also a high risk of fraud and abuse as well as exploitation from strangers. Furthermore, single, more senior adults are also likely to face financial challenges due to the high cost of housing.

 References

Coyle, S. (2020). Financial Independence for Older Adults. Social Work Today, 21 (1), 18.

Joint Center for Housing Studies of Harvard University (2016). The Financial Situations of Older Adults. Retrieved from https://www.jchs.harvard.edu/sites/default/files/harvard_jchs_housing_growing_population_2016_chapter_4.pdf

National Institute on Aging. (2021). Paying for Care. Retrieved from https://www.nia.nih.gov/health/paying-care

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Older Adults and Finances-Paying for Care

https://www.consumerfinance.gov/consumer-tools/educator-tools/resources-for-older-adults/
https://www.ncoa.org/older-adults/money
https://www.jchs.harvard.edu/sites/default/files/harvard_jchs_housing_growing_population_2016_chapter_4.pdf
https://www.socialworktoday.com/archive/Winter21p18.shtml
https://www.nia.nih.gov/health/paying-care

For this assignment, please get in touch with a local assisted living community, nursing home, board and care, memory care facility, etc., and inquire about the following:

*What is the pricing for care at the facility, and what is included in that price? Does the facility take Medicare, Medicaid, Private Insurance, or Private Pay? Do they offer any other financial assistance?

Please follow the outline below for your paper:

1. Introduction relating to the facility you contacted and your experience in obtaining information.
2. Provide information about the facility’s pricing based on care and any particular insurance accepted and financial assistance offered.
3. What are some of the financial challenges an older adult or their family may face in looking for out-of-home care? What about a single older adult without any family?