Planning for senior care can feel overwhelming, but creating a budget checklist can make it much easier. Whether you’re exploring options for your loved one’s care or considering the future needs of a parent, knowing what to expect financially is key. For families looking into assisted living, this checklist can ensure you’re prepared for all potential costs.
- Checklist
Start by evaluating your loved one’s current care needs. Will they need around-the-clock assistance, or are their needs more occasional? If they’ve recently been discharged from a hospital, a respite stay can provide temporary care and allow the family to assess whether more long-term care is necessary. It’s a helpful first step for families who are unsure about the level of support required.
Once you have a sense of short-term versus long-term needs, it’s time to break down what’s included in monthly fees. Many senior care options include meals, basic care, and housing in one package, but there could be additional costs for extra services, like transportation or therapy. This is important when you’re considering a senior care home, as some facilities charge more for specific services outside of basic care. Understanding these charges upfront can help avoid surprises.
You should also consider the services that might not be included in the base price. Be sure to ask about these additional services and how they affect the overall cost of care. Many senior living communities can customize their care plans, so it’s worth having a detailed discussion about what’s necessary.
Take stock of your loved one’s financial resources. This can include savings, pensions, long-term care insurance, and other benefits that may be applicable. Knowing what funds are available will help you make informed decisions, especially when exploring options like assisted living in Massachusetts. Financial advisors and care planners can help guide this process to ensure that your budget aligns with your loved one’s needs.
Not sure where to begin with building a senior care budget? Reach out to Giving Tree Senior Living today to speak with one of our care advisors. We’re here to help you find the best solutions for your family’s situation.