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Senior Care in Memorial, TX: 3 Things to Know about Parents’ Finances

Senior care can be a difficult topic to navigate, especially if you don’t know anything about your parent’s financial situation. If your father has suddenly suffered a major illness or injury, such as a heart attack or stroke, you might not be able to talk to him about his finances. If not, then how are you going to be able to talk to senior care referral services and get the most accurate information about what level of care will be available to him, and what you could afford?

Senior Care in Memorial, TXThere are three basic things that you should know about your parent’s finances when it comes to providing senior care for them. It’s best to find out this information sooner, rather than later, but in either case, this information will become an important piece of the puzzle for you to find the ideal senior health care services for them.

  1. What insurance coverage do they have for senior care? Some insurance policies provide in-home care, at least for certain physical ailments or health conditions. Do you know what their insurance will provide under different situations? For example, will their insurance cover senior health care services for a specific amount of time after they’ve been discharged from the hospital? If you don’t even know whether your parents have insurance, then it’s time that you found out.
  2. Where do they keep their important financial documents? Do you have any idea whether they keep this information, including financial accounts, insurance, the deed to their house, and more in a safe at home, in a file cabinet, in a safety deposit box at a local bank? If they keep this information in a safe at home, do you know where the key is or at least the combination? You should find out this information. If your parent is no longer able to communicate this to you at the time, you may have to hire a locksmith to get into the safe.
  3. What are their thoughts or concerns with regard to power of attorney? If your mother or father has reached an advanced age and their health is getting worse every year, at some point you may have to make certain decisions on their behalf. You may need power of attorney for them and it’s best to get this while they are still able to acknowledge and approve it.

You might not want to think about some of these issues, but these are three aspects of your parents’ finances that you must know about in order to help them get the best senior care that they may require at some point.

If you have a loved one who could benefit from the help of senior care in Memorial, TX contact the caregivers at At Your Side Home Care. We help seniors and their families with many levels of home care service. Call (832) 271-1600 for more information.

Donna Wrabel, LMSW

For most of us, the word "home" evokes warm feelings of comfort, security and well-being. For older adults, home also means holding tight to cherished memories and maintaining self-esteem and independence. When illness, injury or age make life a little more challenging, remaining at home in a comfortable, familiar environment encourages recovery and enhances the quality of life. Home can be defined as a private residence, an independent or assisted living facility or even a short term stay in the hospital, we recognize the additional benefits provided by a personal, professional assistant.

Our Certified Nurse Aides, 24-Hour Live-in Assistants and Home Health Aides are available 24 hours a day, 365 days a year. We also provide the security and confidence of 24-hour Telephone Assistance, so fast, reliable help is always available when it's needed. To learn more about our homecare services see our homecare services page.

Different people need different levels of homecare. To meet the requirements of our clients, At Your Side Homecare maintains consistent staffing levels of caring professionals. Homecare service is available for as little as a few hours a week, or as many as 24 hours a day, seven days a week