Agree with HomeStretch's response.Sounds like you can provide a nearby safe, accommodating and comfortable space with aides for your 90-year old relative. This sounds like the best option of those available. I personally would have opted for this arrangement had It been available for my parents.
Your relative’s out-of-pocket cost after LTCi benefits for each of the first two years is $159k/year. Your relative can afford this arrangement likely for 10 years. This is what the relative’s nest egg is for. You should not have to help out financially.
Best wishes. [edit-] Your relative is lucky to have your support and care oversight. Care by in-home aides and facilities requires a lot of oversight. Having your relative nearby will be a huge plus as you watch over them.
I am still surprised that you can secure 24 hour care for only $15K/month in NYC.
If it would help you feel comfortable with the decision, you could look at the cost of an AL facility once you add up the amounts you would need to pay for additional care. Your total costs for the in-home care situation you are considering may not be much more than Atria + additional fees for assistance with ADLs.
As HomeStretch said, she is fortunate to have you in her life.
Statistics: Posted by HereToLearn — Sun Jan 28, 2024 9:44 am — Replies 52 — Views 1835