Each of the 5 ½ ways to gather caring for our elders has its limitations:
½) Veteran’s Administration is good for assisted living, not much help with nursing facilities;
1) Family marshaling their resources and love is low cash cost, high personal and relationship cost and rewards; some things family members cannot do without learning new skills, leaving careers, acquiring expensive equipment; sometimes those things can get in the way of the living the family needs to be doing;
2) Own pocket: our wallets can run out;
3) Long-Term Care Insurance: sometimes this wallet can run out, too, or lapse because of inadvertence;
4) Medicaid: requires a giving up of resources and a semi-private room and finances, each of which can be a burden or a blessing;
5) Family Responsibility: unexpected liability can be distressing, and it could send us cycling back through the other options above.
:- Doug.
