There is little question that older adults prefer to remain in their homes instead of long-term care facilities. While the popularity of assisted living continues to increase, both care recipients and their families would rather stay in the home environment.
A Canadian company has introduced a new product that allows caregivers and families to easily monitor older adults remotely. Cognitive Systems Corp. has launched "Caregiver Aware," which enables caregivers and loved ones to perform remote checks on well-being and view live motion images in a loved one's home without invading their privacy or violating their independence, as is done through cameras or wearable devices.
"This first iteration of Caregiver Aware is a significant stepping stone to a proactive health model, and for the majority of adults who want to age in place, Caregiver Aware not only meets industry needs but also societal needs," said Taj Manku, co-founder and CEO of Cognitive Systems.
Families Struggle with Caregiving
Families and caregivers struggle with the emotional burden of worrying about their loved one's well-being as they get older and require help with daily living activities or supervision due to declining memory. Products like this one can relieve some of that stress and provide a better quality of life for older adults and those with declining health due to aging.
Many people fail to plan for the consequences of aging and declining health. The result is that people must either use their income and savings to pay for professional care or use family members, often a daughter or daughter-in-law, to provide informal care.
There are 53 million Americans that provide unpaid care to a family member or friend. Over half of informal caregivers are female (61%), and their average age is 50 years old. These family caregivers must juggle their career responsibilities, family, and caregiving duties. The physical and emotional demands on these caregivers are life changing.
New Technology Helps Loved Ones Stay at Home
Products that help people remain in their homes may make it easier and more affordable for everyone. If the care recipient has a Long-Term Care Insurance policy, it will pay for professional in-home care (in addition to facility care). Many plans will also pay for items that make it easier to remain at home. Those items can include ramps, chairlifts, medical alert systems, and even monitoring systems like 'Caregiver Aware,' which might be covered once in the mass market.
The growing number of people worldwide who need help with daily living activities or supervision due to dementia is a tremendous burden on both families and finances. In the United States, traditional health insurance, including Medicare and supplements, will only pay for a limited amount of skilled long-term care services. Medicaid will only pay for long-term health care services if the care recipient has little or no income and assets. Typically, care is delivered in a Medicaid approved nursing home.
Advance Planning Addresses Costs and Burdens of Aging
Families face few choices when they fail to plan ahead of time. A growing number of products are becoming available that help living at home easier for those who need care. Without LTC Insurance, family caregivers will still have the primary responsibility if professional care is unavailable due to limited funds.
Many American families are now planning for long-term health care before their retirement. For many, Long-Term Care Insurance offers a way to have access to quality care options, including in-home care. The benefits protect assets and give loved ones the time to be family instead of caregivers.
About the Author
An LTC News author focusing on long-term care and aging.
Contributor since August 21st, 2017
Most of us want to remain independent for as long as possible, yet we experience declines in our health, body, and mind as we get older. We become dependent on others whether we like it or not.
We can avoid placing this burden on our family by preparing for the costs and burdens of aging. Long-Term Care Insurance gives us the resources to avert complete dependency. An LTC policy gives us access to our choice of quality care options, including care at home. Our loved ones will have the time to be family instead of caregivers. We get the opportunity to stay at home. Plus, our assets are protected from the high costs of long-term health care.
Most people obtain coverage in their 50s. Every insurance company has its own underwriting rules. Be sure you share all your health information with a qualified Long-Term Care Insurance specialist who works with the top companies so they can find you the best coverage at the best value.
Get Expert Assistance in Planning
Long-term care is a very specialized area, and few insurance agents and financial advisors have the expertise. Seek the help of a specialist who represents the top companies.
Experts recommend seeking the help of a qualified and experienced Long-Term Care Insurance specialist to help you find the right coverage. A specialist will match your age, health, and family history with the right coverage at the right price.
Top specialists will often have over 500 clients with Long-Term Care Insurance, some in the thousands. This experience is necessary as every company has its own underwriting criteria. Plus, premiums can vary over 100% between insurance companies.
A specialist will save you money, and you will have peace of mind knowing they are making the appropriate recommendations - Work With a Specialist | LTC News.
LTC NEWS Offers Many Planning Tools and Resources
Planning for the future is never easy, but long-term health care planning can be very complicated and comes with many emotions. Getting the right tools and resources will make the process much easier.
One of the goals is to reduce the stress and anxiety usually placed on your family at the time of crisis. LTC NEWS can be beneficial in providing you with important information for you to consider.
LTC NEWS has put in place several resources, including:
The LTC NEWS Cost of Care Calculator will show you the current and future cost of long-term health care services where you live. Plus, each state has vital state-specific information you should know - Cost of Care Calculator - Choose Your State | LTC News
The Ultimate Long-Term Care Guide is an outstanding read to help you get a good overview of the topic area.
Compare the major insurance companies that offer Long-Term Care Insurance products here - Top Insurers for Long-Term Care Insurance | LTC News.
A detailed tax guide that includes available tax incentives can be found by reviewing the Long-Term Care Tax Benefits Guide.
Find all the resources on LTC NEWS - Resources for Long-Term Care Planning | LTC News.
Finding Quality Care for Mom or Dad
If your family is already in crisis and you need to find help for mom or dad, LTC NEWS can help. We have put together several comprehensive guides to help you in your process.
Start by reading our four guides -
If your loved one is lucky enough to own a Long-Term Care Insurance policy, be sure they use it. Sometimes families wait, thinking they can save the benefits for a rainy day. Waiting on using available Long-Term Care Insurance benefits is not a wise idea.
Get Help in Filing a Long-Term Care Insurance Claim
Many insurance companies have issued Long-Term Care Insurance policies over the years. Filing a claim can sometimes be complicated unless you know what to do or get expert help and assistance.
Don't allow the claim process to stop you from using the benefits available in an LTC policy. Quality care obtained early will help provide a better quality of life and reduce the risk of a deep decline and facility care.
If you need help in starting the process of a Long-Term Care Insurance claim, LTC NEWS can help. LTC NEWS provides free assistance with no obligation to help you, or a loved one complete the claims process with a Long-Term Care Insurance policy. We have teamed up with Amada Senior Care, who will do all the work - free with no obligation.
Get help finding quality caregivers or long-term care facilities and get recommendations for a proper care plan, whether a person has a policy. - Filing a Long-Term Care Insurance Claim | LTC News.
Benefits of Reverse Mortgages
Today's reverse mortgages for those aged 62 and older could be an ideal resource to fund a Long-Term Care Insurance policy OR even provide money to pay for care if you, or a loved one, already needs help and assistance. You might be eligible at younger ages as well.
Some people have much of their savings invested in their homes. With today's reverse mortgages, you can find ways to fund care solutions, care itself, and even help with cash flow during your retirement.
Learn more by asking questions to an expert. LTC NEWS columnist and host of the TV Show "62 Who Knew" will answer your questions regarding caregiving, aging, health, retirement planning, long-term care, and reverse mortgages.
- Just "Ask Mike." - Reverse Mortgages | LTC News.
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