The Assisted Living Federation of America (ALFA) reports that more than 20 percent of the population will be age 65 and older by 2030. As a result, more older adults will be moving to an Indiana senior living community.

While many seniors fear the idea of moving into an independent or assisted living community, there are a surprising number of benefits associated with the transition.

Here are ten ways senior living communities improve the lives of older adults in the Hoosier state.

Exploring the Benefits of Senior Living Communities

1. Socialization

   Social isolation leads to detrimental health consequences including depression and disease. When seniors move into an assisted living community, they are encouraged to participate in planned social activities that relate to their favorite hobbies and interests. Life enrichment is a key to successful aging.

2. Physical Activity

   Living in a senior community presents older adults with opportunities to engage in fitness classes like Zumba and Chair yoga. The best part is these activities are a short walk down to the activity center. No transportation required!

   These exercise opportunities are great options for older adults in Indiana who may not be able to get outside during the icy, winter months.

3. Healthy Diet

   Adult children have peace of mind knowing their aging parent is eating a well-balanced diet while living in a senior community. Residents enjoy restaurant-style dining with an opportunity to socialize with friends at each meal.

4. Independence

   As we age, the fear of losing our independence looms large. But moving to a senior living community is one of the best ways for an older adult to receive the support they need to maintain their independence. Individual apartments or suites in a senior living community allow seniors to live independently knowing assistance is nearby if needed.

5. Safety

   There are many safety benefits to consider when thinking about moving into a senior living community. They range from personal security to health management support. An attentive staff ensures older adults are healthy and mobile while giving family members peace of mind that their loved one is safe.

6. Transportation

   A significant factor for maintaining independence is transportation. Most senior living communities provide transportation to and from errands, appointments and shopping centers. Transportation services also take stress off of family caregivers who may be juggling a full-time career and family of their own with the needs of an aging parent.

7. Improve Caregivers’ Health

   Adult children can hand over some of their responsibilities to the staff at the senior living community including meal preparations, medication management and housekeeping. When their senior loved one moves into an independent or assisted living community, the family caregiver often feels less stressed and weary. It allows them to regain their own health and to more fully enjoy the time they spend with their loved one.

8. Health Management

   Senior living communities offer a variety of wellness programs in-house. From fall prevention programs to weight monitoring and medication management, these services help residents stay active longer.

9. Memory Care

   According to the Alzheimer’s Association, more than five million Americans lived with dementia in 2015. If your aging loved one is affected by the disease, a memory care community may be the ideal solution. These communities provide the necessary stimulation, nutrition and security for older adults with cognitive loss.

10. Personal Care

    As we age, it’s harder to pay proper attention to our personal hygiene. The staff at a senior living community can provide personal care for older adults in the comfort of their rooms. These communities also offer in-house beauty salon services on a weekly basis.

    At first glance, encouraging a loved one into a senior living community might feel frightening. But the big move will likely turn out to be the best move to help them to live a longer and healthier life.

The cost of senior living and confusion about how to finance it often top an adult child’s list of questions and concerns in the search for a senior living community. Understandably so. There are many myths and stereotypes about senior living expenses that make it difficult for families to obtain accurate information.

To help you get the answers you need, we created this list of frequently asked questions. Here you will find answers to the questions our team members hear from families most often.

FAQ: Answering Family Questions About Financing Senior Living

Q: Will Medicare pay for an assisted living community?

A: Families are often surprised to discover the answer to this question is an unfortunate “no.” Medicare is designed to help with health care expenses, and assisted living does not meet that criteria.

Q: Can a life insurance policy be cashed in to pay for senior living costs?

A: This is one to talk to a certified financial planner or an attorney about. There are life settlement companies that will purchase life insurance policies from older adults. While the senior won’t receive the policy’s full face value, the generally receive an amount that is greater than the surrender value. But there are some unscrupulous companies out there waiting to scam seniors. So it is important to find a credible company to work with. Make certain you get recommendations from people you know and trust.

Q: Does long-term care insurance also help pay for assisted living expenses?

A: Many families overlook this potential funding solution when a loved one moves to an assisted living community. In fact, some long-term care insurance policies do help pay for assisted living, and not just a nursing home. Make sure you review your senior loved one’s policy or call the company if you need further clarification.

Q: Are there any programs that help military veterans finance senior living?

A: Yes, there is a program that can provide financial assistance to veterans who qualify. It is called the Aid & Attendance benefit and is designed to help with senior care expenses for veterans and their surviving spouse. The veteran does have some conditions that must first be met.

If they qualify, a veteran or their spouse can be eligible for up:

• $2,127 per month for married veterans
• $1,794 per month for single veterans
• $1,153 per month for a surviving spouse

Q: Do banks or other lending institutions offer short-term loans to help pay for senior living expenses?

A: We know seniors often have a home to sell or other investments that must be liquidated to cover the cost of senior living. But in many instances, the older adult wants to move before these assets are sold. The good news is that a growing number of banks and financial organizations offer short-term bridge loans to fill the gap.

Talk with your bank or that of your senior loved one to see what they might offer. In addition, Five Star Senior Living has a partnership with Elderlife Financial. Their Financial Concierge team members can help seniors and their families explore their short-term funding options.

Download our Senior Living Funding Guide

Interested in learning more? Download the free Your Complete Guide to the Cost of Senior Living e-book! It’s packed with helpful information and resources for families to explore.

Everyone knows that to stay healthy, it’s important to eat right, get some exercise, and avoid burning your skin in the sun. Did you know that, once you retire, maintaining an active social life can help keep you in good health, too?

Since July is National Social Wellness Month, it’s a good time to explore the impact that staying social can have on your health.

Researchers have found that feelings of social isolation are linked to mental and physical health problems.

Today’s older Americans are more likely to feel isolated than seniors of previous generations. As the population ages, the link between aging, isolation, and health could grow to become a significant public health issue.

Feeling Isolated May be Bad for Your Physical Health

Spending time around people who care about you can be a great way to stay healthy during retirement. Staying social not only makes you feel better, but it is also good for your overall well-being.

The AARP reports that studies have linked perceived isolation to increased blood pressure, higher rates of colds and the flu, indulgence in unhealthy behaviors, and even the early onset of dementia.

Isolation among older Americans has also been linked to higher mortality rates from breast cancer, heart disease, and other chronic diseases

Why does this happen?

Scientists believe that social contact has profound physiological effects which can reduce stress hormones and inflammation. For whatever reason, feeling lonely seems to trigger an innate response in human beings, called “fight-or-flight”. This is the same response triggered by extremely stressful situations. The body reacts with inflammation and reduced efficiency of the immune system. 

Doctors know that stress and inflammation play a role in many chronic conditions. Over the long term, the presence of stress and inflammation may even contribute to serious illnesses like cancer.

Isolation May Also Contribute to Cognitive Decline

One study of 2,000 people found that those who live by themselves were overwhelmingly prone to dementia. Even when a housemate was present but the participants in the study reported simply feeling lonely, their risk of cognitive decline increased.

What can we take from those results?

Scientists believe that regular social contact keeps the neurons in the brain active, thereby warding off dementia. Viewed in this light, socializing is akin to a workout for the brain.

Be Proactive About Staying Social

Maintaining friendships isn’t always as easy as we’d like it to be, especially as we age. In your 20s, your friends probably formed the pillars of your social life. Now, after years of childrearing, climbing the corporate ladder, or moving around from state to state, you’ve more than likely lost touch with a good portion of your oldest buddies.

Once you retire, you often lose the social network you formed at work.

Staying social during retirement requires a proactive approach. There are plenty of ways to actively seek out new friendships.

Hobbies are a wonderful way to meet people with similar interests. For example, do you love nature and animals? Joining a birdwatcher’s group can connect you with others who share your appreciation for the natural world.

Another example: do you love helping people learn? Volunteering to become a mentor is one of the best ways to connect. It affords you the opportunity to make deeper, lasting relationships that may last for years. 

The Social Dimension of Wellness

There are other great ways to make new friends and develop existing friendships as well. Seniors who live at one of Indiana’s Five Star Senior Living communities enjoy active social lives via a full schedule of social events. They participate in leisure and recreation activities that take place right at home and they enjoy social events like book clubs, Tai Chi and holiday celebrations.

Socializing is a vital part of the wellness formula. Here at Five Star Senior Living, we’ve made that an essential principle in all of our communities. Want to learn more? Call us today to schedule a tour of an Indiana community near you.

We’ve all experienced it: budgeting mistakes. One bill might not get paid while another one is paid twice. Maybe it was a one-time occurrence. That’s normal. But as our loved ones age, health issues, losses, and grief may compound distraction and contribute to poor decision making. Sometimes challenges managing finances can even be an early sign of Alzheimer’s disease.

With empathy and kindness in mind, caregivers can help a senior loved one create a budget and keep their finances safely on track.

Caution, please!

If you’re helping to create a budget for your Mom or Dad, consider that they may perceive your efforts as a loss of their independence. So move forward with gentleness, compassion, and respect. Loved ones who are treated with dignity and diplomacy are more likely to work willingly with you as you help them with their finances.

Working with a Senior Loved One to Establish a Budget

Here’s how to create a budget for a senior loved one:

1. List their net income. When you are just estimating income and expenses, it may be easy to understate or overstate them. So start by making a list of all their income sources. Include social security, investments, pension, and any earnings from hobbies or other sources. From each income source, subtract any taxes or necessary deductions. Tally their final take-home pay.
2. List their expenses. Start with the basic fixed expenses: rent or mortgage, utilities, car payments, insurance, and so on.

   Then include the expenses that change each month: groceries, gas, medications or entertainment, for example. Help them read their credit card statement and checking account statement to complete the list. Watch out for sneaky expenses. Those may be one-time treat items that become a habit and begin to appear regularly on bank statements.

   To help create a list of possible expenses, many online tools are available. Some of the free and easy services include Mint.com, Budget pulse, and ClearCheckBook.

3. List their actual spending. Track daily spending when checks are written or credit cards are used. A slip of paper kept in the wallet will work, but helpful smart phone apps are available.

   At the end of the week, schedule about 15 minutes to help them record the expenses on their master tracking list. At that time, compare the actual spending with the expenses.

4. List saving sources. If necessary, work with your senior loved one to identify possible areas in which to make cutbacks. They may be entitled to a senior discount with a different cable company or get a better deal on cell service if they shop around. A little savings here and there will add up to bigger savings by the end of the year.
5. List their goals. Whether it is for a vacation, wedding and birthday gifts, major repairs, or additional retirement funds—life happens. It is important to plan for these events and unexpected issues. Estimate the amount of savings required each month to meet their goals. And to also prepare for anticipated caregiving costs.
6. List any obstacles. Let’s face it, for some people spending money fills a need. It can produce positive feelings or prevent negative ones. Some people shop for pleasure. The hunt for an item can be exciting, novel, or give a sense of empowerment and accomplishment. It can be a social activity that connects us with the community—that’s especially important for some retirees. At other times, shopping can help us avoid pain—maybe fear or loneliness. In any case, when over-spending occurs, there’s usually a negative outcome: stress, shame, or arguments.

   To help a parent replace the power of a habit, brainstorm to find ways to fill the real need. Is it people and community? Then schedule activities to help satisfy that real need. Is it the novelty, adventure, or a sense of accomplishment? Help your loved one find creative hobbies or alternate activities to address those needs.

   Finally, consider posting a note on the refrigerator to remind your Mom or Dad about their financial goals and the budget it will take to achieve them.

7. Seek support. Consider making a list of friends, family members, or organizations that can help you when their budget just won’t add up. For example, Debtors Anonymous offers in-person group meetings and telephone support meetings nationwide to people of any age. Our blog also has a variety of articles to help adult children discuss difficult topics, including money.

At Five Star Senior Living communities in Indiana, our team can help you estimate costs for respite care and for assisted living. Call the community nearest you to schedule a private visit today!

<!–[CDATA[If you and your aging loved one are exploring senior care options, the process might feel overwhelming at first. After you determine what type of care is necessary—for both their current needs as well as those they might encounter in the future—the next step is to learn more about the costs.
 
One helpful guide is the Genworth Cost of Care Survey. Since 2004, Genworth has been creating and sharing this information. According to their most recent study, the cost of senior living has not increased as much as the cost of in-home care. Private duty home care costs continue to rise every year.
 
Tom McInerney, president and CEO at Genworth, says that at least 70 percent of Americans over age 65 will need some form of long term care services and support during their lives. With a little bit of planning, financing senior living might be a little less difficult than you think.
 
Financing Senior Living
 
The cost of senior living varies depending on your geographic location and the extent of the care a loved one requires. But there are several different options available for financing senior living, regardless of your aging loved one’s location and level of care.

• Private Pay: If your family member has sizable savings but is worried about outliving their resources, you may want to consider an annuity. When you purchase an annuity, you pay a lump sum to the underwriters and then receive regular payments over a specified time period (usually the rest of your life).

Cashing in personal investment portfolios, like 401k plans or IRAs, is also an option many seniors must exercise.

• Veteran’s Benefits: The VA (Veteran’s Administration) can be very generous when taking care of those who served.  If your loved one is a veteran, they may be eligible for benefits that can be used to help pay for senior housing.

Known as “Non-Service Connected Improved Pension Benefit with Aide and Attendance,” or simply “Aid and Attendance,” to help with the cost of assisted living.  There are a number of criteria the veteran must meet.
 
The veteran must have served at least 90 days of active duty and/or at least one day during wartime.  Their medical condition doesn’t need to be service related, but they must meet a medical qualification. 
 
The current maximum benefit is $1,949 a month for married veterans, $1644 for single veterans and $1056 for a surviving spouse. You can help them apply through the Veteran’s Administration.
 

• Long-Term Care Insurance: If your aging loved one has a long-term care insurance policy, it may help cover the cost of assisted living services.  There are “facility-only” policies which cover care only in a licensed assisted living facility or skilled nursing facility. Insurance policies can be tough to read, but knowing what benefits your loved one is entitled to receive will be very helpful in making sure they get what they paid for. 

 
Most companies are written so they require a senior to need help with at least two ADL’s (Activities of Daily Living), such as bathing, eating, dressing, transferring from bed to chair, walking, and toileting. Long term care insurance benefits vary widely depending on the policy, but can range from $1,500 to more than $9,000 per month.
 
Don’t be discouraged if you are turned down. It isn’t uncommon for insurance companies to decline payment on the first round.  It often means you or a professional advocate must contact the insurance company to appeal. 
 

• Life Settlement Funds: When we think of life insurance benefits, it is common to think that the funds are not available until the person’s death.  But a life insurance policy can provide financial support now, should your aging family member need the money. 

 
Your senior loved one can sell their existing policy to a third-party company in return for a “life settlement” or “senior settlement.” This is usually for an amount equal to about 50 to 75 percent of the policy’s face value.
 
Get the Most From Your Care Coverage
 
Understanding your options can help ease the burden of financing senior care. Doing additional research may also help you discover creative ideas for lowering the cost of senior living, such as family caregiver tax breaks, respite care and low cost or free medications.
 
Find a Five Star senior living community and schedule a tour. Our experienced team members will be happy to discuss your options for financing care.