Know Your Options as You Age
As they say “Old age isn't so bad when you consider the alternative”. We want
to help you retain control and independence as you age, and the first step is
to know your options as you age.
School prepares
us for adulthood, but no one helps us prepare for our senior years. A few lucky
folks will age with ease and never require any support, but most of will need
some help along the way. In this article, we hope to guide our readers on how
to navigate our less than user-friendly healthcare system when it comes to senior
healthcare options. It’s never a good idea to wait until a crisis happens to
start looking into your options.
Step 1: Do you have a plan?
“Be Prepared” is a great motto for life at all stages. We encourage
everyone to set aside a few hours to sit and seriously consider what you would
like your old age to look like. Whether you are still a young adult, or your
retirement is a few short years away, or even if you’re already in your senior
years ¾ it’s never too late to
plan for tomorrow.
Some questions to ask yourself:
Do I want to remain in my own home, or do I want to move to a
retirement residence? (see next
section).
If you are married or live with someone
else, will your plan change if your spouse or family member passes away or is
no longer able to live with you?
This is a
very important question for couples or seniors who live with a family member.
If you are married, then your plan should include how you wish to live as a
couple, and how you and your partner would wish to live should you be alone
(that’s three options to discuss).
In today's
world of second and third marriages, there could be several options to
consider; you’ll want to be sure to consider and plan for all possible options.
If you are in a second marriage, and you both have children from previous
spouses, you need to consider who will (and wants to) help who, and does that
change if one of you passes away?
Do you want to be close to family?
It is less
common today for adult children to still live in the same community as their
parents. You’ll want to seriously consider whether you want to be closer to
family as you age, and what will that look like. Is your one child in another
city, or perhaps even another country? Do you have children and grandchildren
living in different cities? Do you want to live with (or near) one of your
children, or do you want to split your time between more than one?
In ‘a home’, or in your home?
Who will change my light-bulbs?
This may sound
mundane, but it is an important question to consider if you wish to remain in
your home. Homes, whether it be your three-bedroom house, or a one-bedroom
apartment, they all require some maintenance to keep running safely. Will you
be physically able to maintain your home, should you be climbing a ladder or
step-stool, or will you require a service provider to help with some of the
more physical tasks?
Is it more important to me to eat what and
when I want, or to eat with others?
Humans come in
all shapes and sizes, and we all have our own preferences. While I may place
more value on my independence, you may value the fun of socialising in groups over
setting your own schedule. These are important concepts to consider.
Call Shylo
today at 604-985-6881 to make an
appointment for a nursing supervisor to come to your home and discuss in-home
services. We can help with meal planning, shopping, meal preparation,
housekeeping, personal care, drive you to appointments, and we can even change
your light-bulbs.
Community Care
The government also offers some support for seniors living in the community, these services are available
through your local health authority and include:
Adult Day Care services assist seniors
and adults with disabilities to continue to live in their own homes by
providing supportive group programs and activities in the community.
Clients
receiving adult day care services travel to a location in their community, usually
1-2 days per week, where they may receive a variety of services, including:
· personal assistance;
· health care services including nursing and/or
rehabilitation services;
· an organised program of therapeutic social and
recreational activities in a protective group setting;
· health education and promotion, nutrition and
bathing programs, blood pressure and podiatry clinics, telephone checking, and
counselling; and
· caregiver support, including respite, activities
such as caregiver support groups, information and education programs.
In some cases,
transportation is provided, in others, the client is responsible. Many adult
day service programs are connected with residential care facilities, while
others operate independently.
Community Nursing is also available to
citizens living their own homes in the community who require acute, chronic,
palliative or rehabilitative support. Services can include nursing
interventions such as education, wound care, medication management, chronic
disease management, care management, post-surgical care and palliative care.
Generally, community nursing services will only be provided on a short-term
basis.
Community
Rehabilitation services are provided to clients who require acute, chronic,
palliative or rehabilitative support to help improve or maintain physical and
functional abilities. Generally, community rehabilitation services will be
provided on a short-term basis. These services may be provided in the
client’s home, assisted living residences, family care homes, group homes, or
other community settings.
Residential Care
Retirement
homes also come in many shapes and sizes, from larger government-funded,
multi-level nursing homes, to smaller private assisted living residences –
there is something for every level of care, and every budget. Retirement living
has come a long way in the past twenty years, and there are far more options
available today then there were for our parents. We encourage everyone to get
out and tour a couple of the local homes and see what is available in your
area. Generally, residential care is available through:
Independent Living BC (ILBC) is a subsidized, assisted-living program that provides
housing with support services to seniors and people with disabilities. Each
residence has private units, shared dining and social areas, housekeeping
services, personal care services and emergency response.
Assisted Living provides housing,
hospitality services and personal care services for adults who can live
independently and make decisions on their own behalf but require a supportive
environment due to physical and functional health challenges.
Residential Care (Long Term Care) provides
24-hour professional care and supervision in a protective, supportive
environment for people who have complex care needs and can no longer be cared
for in their own homes or in an assisted living residence.
Short-term
residential care services are also available on a short-term basis (usually
less than three months) and include convalescent care, residential hospice
palliative care and respite care.
Respite Care people receiving home and
community care services are often assisted by informal caregivers, often a
friend or family member. Respite care can give the caregiver temporary relief
from the emotional and physical demands of caring for a friend or family
member. Respite may take the form of a service that is provided in an
individual’s home or a residential care facility, hospice or other community
care setting such as an adult day centre.
Memory Care units are totally devoted
to the care and treatment of people suffering from Alzheimer’s and other
cognitive diseases. Memory Care units are designed to provide an environment
that is safe and comfortable.
End-of-life care is supportive and
compassionate care that improves the quality of life for people and their
families who are facing the end stages of a terminal or chronic illness, or
preparing for death. End-of-life care addresses
physical, psychological, and spiritual concerns and focuses on comfort, respect
for decisions, and support for the family. It is provided wherever the
client is living, whether in their home, in hospice, an assisted living
residence or a residential care facility.
For more
information on any of these services, and to find out if you qualify, call the
health authority in your region:
Vancouver
Coastal Health 604-736-2033
North Shore Health 604-986-7111
Fraser Health 604-587-4600
Interior Health 250-862-4200
Island Health 250-370-8699
Northern Health 250-565-2649
First Nations Health 604-693-6500
Step 2: Share your plan
The most important thing to
having a plan, is to make sure everyone is aware and supports your plan. You’ll
want to be sure and discuss your plan with your family, your family doctor, and
any financial advisers or lawyers who may be involved in your life as you age.
Questions to consider while making your plan:
Where do I want to live?
o
will this change if your spouse/partner is no
longer with you?
o
will this change if you develop a physical or
cognitive disability?
o
do you know the costs associated with this
option?
Who would I like to have Power of
Attorney authority in case I am incapacitated and temporarily or permanently
unable to do my own banking. Is a POA the same as a Representation Agreement? (see below).
Document your plan, and share copies with appropriate stakeholders.
We recommend that you have at least three copies of your plan, and make sure
the right people know where to find it. Keep up-to-date copies with:
- · yourself – keep a copy in your home, and be sure friends/family know where it is. You should also add a note in your wallet stating where it is and who to call in case of an emergency.
ICE: most cell phones today have the
ability to store In Case of Emergency
contact information; on most phones this will even show up if the phone is
locked.
- · your emergency contact (be sure to keep your emergency contact updated; if your best friend is your contact but is in their 80’s, they may not be the best person to help you in an emergency).
- · your family doctor
- · your financial adviser
- · your lawyer
Also keep an electronic copy of
your plan. If you are not comfortable suing a computer, contact one of your
children or grandchildren, and ask them to create an electronic copy [e-file]
for you (this can be as simple as scanning what you have written out). This way
your plan can quickly and easily be shared with your entire family, no matter
where they are in the world, should anything happen to you and decisions need
to be made in a hurry.
Power of Attorney is a document that appoints another person, called
an ‘attorney’ to deal with your business and property, and to make financial
and legal decisions for you. The word “attorney” here means “one who is
appointed and authorised to act in the place of another person”.
Consider carefully who to appoint
as your attorney and the powers you want to give. You cannot appoint anyone who
is paid to provide you with personal or health care or who works at a facility
through which you receive personal or health care, unless that person is your
child, parent or spouse. It’s important that you trust the person’s honesty and
judgement. If you have no family member or friend that you can or want to
appoint, you can appoint a respected professional such as your lawyer,
accountant or trust company. As a power of attorney gives your attorney very
broad power, it can cause a lot of harm if misused.
Healthcare Representation Agreements allow adults to arrange in
advance how, when and by whom, decisions about their health care or personal
care, the routine management of their financial affairs, or other matters will
be made if they become incapable of making decisions independently. They avoid the need for the court to appoint someone to help
adults make decisions, or someone to make decisions for adults, when they are
incapable of making decisions independently.
Changes to BC’s Representation
Agreement Act came into effect on September 1, 2011. Representation
agreements signed before then will generally still be valid. But any
representation agreements signed on or after September 1, 2011 must follow all
the new laws.
The Public Guardian and Trustee of British
Columbia has detailed
information on powers of attorney, representation agreements and court orders
appointing a committee to look after the affairs of a person who is mentally
incapable. 604-660-4444 www.trustee.bc.ca
Check your insurance polices – know your coverage
Every plan – even plans through
the same insurance company – covers different prescriptions and other services.
This is often because there are different types of plans to choose from.
Some members are surprised to learn that their plan covers things they didn’t
expect, like their chiropractor visits and pumps for breastfeeding moms. Check
that the care you want is covered, and the amount you’ll have to pay, before you
need health services. It would be a shame to deny yourself help in the home
thinking you can’t afford it if you were covered all along. If you need
insurance advice, call Kendra at Perspektiv Financial 604-568-6159 www.perspektivfinancial.com
Reverse Mortgages – a great solution? Know the risks?
A reverse mortgage or home equity conversion mortgage (HECM) is a type of home
loan for older homeowners (55+) that requires no monthly mortgage payments. Borrowers are
still responsible for property taxes and homeowner's insurance.
However, reverse mortgages are
not without risk, and are not for everyone. Though closing costs are typically
financing into the loan, you may end up losing tens of thousands of your home
equity immediately. In many cases, you will end up using up a large portion of
your home equity, both in the cash you withdraw and the interest that accrues
over time. This will leave you with less wealth moving forward, and it will
reduce the inheritance that you can leave. If you need to stay in a nursing
home or an assisted living facility for over a year, the loan becomes due
immediately. If you do not keep the house in good repair or fall behind on tax
and insurance payments face the risk of foreclosure.
Line of Credit you may have already paid off your mortgage and now
longer have a LOC. While paying off a mortgage is an admirable accomplishment,
having a Line of Credit is a wonderful tool. LOCs give you the peace of mind
knowing that you have immediate access to funds anytime you need or want them,
and you only pay if/when you use it.
For advice on whether a reverse
mortgage or Line of Credit would be best for you, call Michael
James at Dominion Lending 778-385-5503 www.mjamesmortgages.com
Rent or Own?
One decision that will affect
your retirement a great deal is whether to own or rent. There are obvious
benefits to owning your own home — with today’s low interest rates, locking in
a 15- or 30-year fixed payment keeps your housing costs predictable. As an
owner, you can also reap the rewards of increased equity if housing prices
rise.
Even better, if you pay cash for
your home, you have no mortgage payments. Also, you’ll never get a 30-day
notice to vacate your property, and you can paint your bedroom whatever colour
you desire.
However, when you take into
account your down payment, closing costs, taxes, insurance, maintenance, and
upkeep, it may actually be cheaper to rent. As an owner, the funds you used to
purchase your home are locked up and aren’t available to provide monthly cash
flow.
When you rent, if you need a new
roof, water heater, or dishwasher, it's coming out of the owner’s pocket. All
you need to do is make a phone call to the owner or her property manager.
On the other hand, you could get hit with rent hikes, even if you’re
on a fixed income. Indeed, there's growing concern that soaring rents and <1% vacancy rates in some areas could ruin many
a retirement plan.
If you live in the Lower Mainland
and are wondering about the value of your home versus the cost to rent, the
best place to start is with a Detailed Comparative Market Analysis, and the best realtor we know is Stefan Gerber who can be reached at 604-764-0663 www.stefangerber.com
Private, public or both?
Both home support and residential
care can be government-funded or private. There are significant differences
between the two, and we encourage everyone to familiarise yourself with both
options. As with most things in life,
you generally get what you pay for.
You may qualify for funding and
have the opportunity to reside in a government-funded residential care facility;
funding is based on your medical needs and annual income, and can vary form
0-100%. They will provide the minimal care required (food, lodging and a weekly
bath), but you may have to share your room with two or three other residents,
and you have to eat during their set meal times (breakfast at 7:30 am, lunch at
12:00 pm and supper at 5:00 pm). You will be limited to bringing a few items
from home (a bed spread and a few photos), and likely will not have a fridge to
store your own food or drinks in.
On the other hand, there are a
variety of private homes that offer more luxurious accommodations. Some facilities
offer basic accommodations and meals, with additional services available à la
carte. We hear from some of our clients that the private facilities cost
between $5,000 to $14,000 per month.
Similarly, home care can be
private or subsidised by the government, and there are significant differences
between the two. If you qualify for subsidised home support, the government
will dictate how many hours you may receive each month, and when you will receive
the hours. You will likely see a lot of different faces, you may have male and
female caregivers, and the workers may or may not arrive at the scheduled time.
Government home care also has a lot of restrictions on the services they offer
(no housekeeping, medication assistance, etc).
While private home care will cost
a little more, it does offer you control over your services. You can set your
own schedule, you will have individual caregivers assigned specially to you,
and you can request a change if you’re not happy with a certain caregiver. Home
care companies like Shylo are also full service and can help with all of your
personal care needs (bathing, dressing, meals, and medications) as well as
household chores (housekeeping, laundry, ironing, and basic gardening); your
caregivers can also escort you to run errands or go to the doctor.
Some clients use the services
offered by the government and supplement the hours with the services of a
private home care company like Shylo. Again, we encourage everyone to familiarise
yourself with all the services available to you ¾
educate yourself BEFORE a crisis happens and you need the services.
In Summary:
We hope this review of healthcare options has helped shed
some light on your choices. We know it can seem over-whelming at first glance,
but there are people out here that can help you make an informed decision.
Resources:
Home Support Shylo
Home Healthcare www.ShyloNursing.ca 604-985-6881
To discuss your home health care options, call Shylo today to request a free, no obligation health assessment. We are happy to come to your home and discuss everything discussed within this article, assess your current needs (housekeeping, meal preparation, personal care, dementia care, or end of life care) and create a detailed Care Plan based on your individual needs if requested.
To discuss your home health care options, call Shylo today to request a free, no obligation health assessment. We are happy to come to your home and discuss everything discussed within this article, assess your current needs (housekeeping, meal preparation, personal care, dementia care, or end of life care) and create a detailed Care Plan based on your individual needs if requested.
Insurance Perspektiv Financial www.perspektivfinancial.com 604-568-6159
Call Kendra Sivertson (Certified Financial Planner) to review your current insurance coverage.
Call Kendra Sivertson (Certified Financial Planner) to review your current insurance coverage.
Public Guardian and Trustee of British Columbia www.trustee.bc.ca 604-660-4444
Mortgages Michael
James www.mjamesmortgages.com 778-385-5503
Realtor Stefan
Gerber www.stefangerber.com 604-764-0663
Other Trusted Service Providers:
Unlike some the big franchises
out there, Shylo is a local company that has operated in Vancouver since
1980. We live in your community too, and we have worked with many trades over
the years and have amassed a list of reputable local businesses.
We enjoy being able to refer our
friends and clients to other local businesses that we trust. If you ever need
the help of any of the following services, please do not hesitate to contact
Margot for a reliable referral.
- Audiologist (Mobile Hearing
Aide
Services)
- Mobile Physio
Therapist
- Massage Therapist
- Plumber
- Electrician
- Gardener
- Financial
Planner
- Bookkeeper
- Locksmith
- Branding/Marketing
- Business
Lawyer
- Commercial
Cleaner
- Life Coach
- Kinesiologist
- Dog
Walker
- Pet
Sitter
- Veterinarian
- Printer
- Architect
- Yacht
Sales
- Roofer
- Dentist
- Fitness
Trainer
- Pilates
Studio
- Nutritionist
- Eating Disorder
Therapist
- Realtor
- Contractor
- Demolition/
Restoration
- Automotive
Repair
- Auto Body
(mobile)
- Movers
- Sign Company
Internet Marketing
- Promotional Products
(Swag)
- Commercial
Financing
- Painter
- Organising Systems
(Garage/Closet)
- Window
Coverings
- Accountant
- Property Manager
- Commercial Real
Estate
- Life, Health, Disability
Insurance
- Home, Auto Insurance (Mobile)
- Photographer
- Personal Injury
Lawyer
- Naturopathic
Doctor
- Interior Design
- Home Inspector
- Heating/ HVAC
- Video Production (Family
Stories)
- Family
Lawyer
- Wigs
- Osteopath
- Travel
Agent
- Hypnotherapist
- Window Washing & Power
Washing
*Shylo received no monetary rewards for referrals to these service
providers, we just like to help our clients, friends and family.
Excerpts from:
https://www.forbes.com/sites/nancyanderson/2016/04/04/8-important-questions-to-ask-yourself-before-moving-in-retirement-2/#505e2bef3837
http://www2.gov.bc.ca/gov/content/health/accessing-health-care/home-community-care/care-options-and-cost
http://www.comfortlife.ca/retirement-communities/vancouver-retirement-homes#2
https://www.bchousing.org/housing-assistance/housing-with-support/independent-living-bc-program
https://www.cbabc.org/For-the-Public/Dial-A-Law/Scripts/Wills-and-Estates/180
