New York Financial Planning
It's never too early to start planning for your retirement and senior care. Read our tips on where you can find resources to help you in New York.
Planning for the Costs of Senior Care
As you start your search into different senior care options, it is important to understand the difference in each type of facility. Pricing will depend on location and on the frequency and type of care your loved one requires. Insurance or retirement coverage may help pay for part of senior care as will things like Social Security, Veterans Benefits, or Medicaid if your loved one is eligible. Long-term care is not covered by Medicare, however.
To narrow your options, talk to a Senior Care Advisor or consult our articles about Medicare and Post-Hospital Care and Veterans Benefit and Elder Care Costs. Determining the best care option for a senior is not an easy process nor is it an easy conversation. For help with these kinds of conversations, check out our helpful article on Elderly Parents and Future Care Wishes.
It is important to understand the costs for different types of care because in New York, long-term care is more expensive than the already pricey national median. According to Genworth Financial, the median costs of different types of long-term care in New York are as follows:
- Assisted Living (private, one bedroom): $44,400
- Nursing Home (semi-private room): $118,625
- Nursing Home (private room): $123,005
Senior Care Services: Need help making sense of senior care options? Get free guidance from Care.com's experienced senior care advisors who can help you select from screened home care agencies and senior housing communities nationwide to find the right solution for your aging loved one. Search senior housing options and home care agencies or call 855-490-8652.
Senior Care Planning: If you're not sure about where to begin the process of searching for senior care for your family, Care.com offers specially trained individuals who will work one-on-one with you to determine the best care situation for you and your family. Call them at 877-922-7314.
Senior Care Guide: Care.com's comprehensive guide to senior care that helps readers understand senior care options by describing each option in detail and answering frequently asked questions.
For more information on senior healthcare, visit our Articles and Resources page.
Looking for quality home care in New York? Check out the local pages below.Albany
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