In the know.

Most seniors might label themselves as planners. These are the types of folks who proactively think ahead and making plans for what the future may hold. However, when it comes to aging successfully, there is a big gap between planners and those who actually have a plan. There are multiple areas older adults need to consider when it comes to the future. But the real concern isn't if you are making plans in each area, the focus is on what plan is actually in place. There is a huge differecne, allow us to explain.

Planners are quick to acknowledge that they have their affairs in order with Powers of Attorney established, Long-Term Care Insurance secured, and a thoroughly discussed plan with their spouse or children, should there be changes in their health or mobility. Perhaps the plan includes bringing in paid helpers to the home to manage care, or planning to move in with children, while some might set their aim on moving into a retirement community.

But here is the problem with these plans, they are fully dependent on everything lining up just right. Those with a plan have already managed all of the "what ifs" long before the surprise variables even become an issue.

If you haven't figured it out yet, the ones who actually have a plan are those who are already living in a senior living community, enjoying full peace-of-mind because they have already tackled many of the big decisions themselves, and have every "what if" covered, no matter what the future holds. Meanwhile the planners are still living in their home waiting for the unknown to occur, with hopes their plan holds up and all parties they depend on doing their part as instructed.

Let's play out a scenario to further explain the difference. For this exercise, we will apply the same set of circumstances to the planner versus the person who actually has a plan.

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Scenario: The senior falls in the middle of the night which results in a hip fracture. They will be unable to continue living alone going forward.

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The Fall.

‍A Planner: 

After a fall, a planner may or may not have any way to notify others that they have fallen unless their plan includes a twenty-four-hour monitoring system that can recognize that there has been a change in activity. While the cell phone is what many rely on, it is not always realistic to keep nearby. In some situations, seniors may lay on the ground for hours, or even days if there is not a plan in place for this type of monitoring.

Someone with a Plan: 

Living in Independent Living in a retirement community includes monitoring systems that will indicate there has not be normal movement in the home after a period of time. A staff person will come check on the resident and contact emergency services for help.

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What's next? 

‍A Planner: 

Whether it is children, a spouse, or other loved ones, the group will gather to discuss what should be done next if the elder is unable to return home, with the selected Power of Attorney taking on the bulk of the responsibility. Granted the senior may be coherent enough to guide the discussion about their future, however, the ability to tour and participate in the selection of communities may be more difficult, if still in the hospital. As a result, many seniors find themselves moved to the proverbial passenger seat when it comes to making a major decision that will greatly impact their life. Additionally, this senior is forced to accept availability wherever it may be offered, whether or not it is their first choice.

Someone with a Plan: 

As an existing resident in a community with the full continuum of care, the healthcare team is put on alert as soon as you go out to the hospital that a space should be reserved in the event you require additional care. The team is in touch with your family at every turn to monitor your needs and ensure they are prepared to receive you upon discharge in whichever neighborhood is most suitable, assisted living, memory support, or long-term care. Usually, after a fall, they are preparing a room for them to return to the community and receive short-term rehabilitative therapy in skilled nursing. In some cases, the elder may be successful returning to their Independent Living apartment with a little extra support from trusted partners. Whatever the situation calls for, the resident has guaranteed access to care as dictated in their residential contract. This is part of the LIFE CARE contract available to those who enter the community in Independent Living that obligates the community to hold space for you in the event you need it. For this senior, there is no need to panic, research, or set up discovery tours at every place in town, this work was done years ago when they initially chose to move into the community.

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The Price. 

‍A Planner: 

Many planners secured a helpful Long-Term Care policy to help pay for the care which may pay a portion of the fees charged in an assisted living or long-term care community. While this type of policy helps put a dent in the costs, the fees are quite steep, running between $5,000-$12,000, depending on the care required. The pricing increases as care needs increase.

Someone with a Plan: 

A resident with a LIFE CARE contract does not need to worry about the market rates for care, they secured an equalized rate for themselves when they moved in many years prior. An equalized rate is one flat rate that is charged for any level of care, whether it be assisted living, memory support, or long-term care, no matter how care needs may increase.  This rate is roughly $4800 per month. These elders are able to plan all the way down the road with more clear look at costs compared to those who are suspectable to soaring market rates. Most ideally, those who pair a Long-term Care insurance policy with the equalized rate found in the LIFE CARE contract have minimal out of pocket costs for future care.

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The Stuff.

A Planner: 

Once the elder is set in the healthcare setting suitable for them, it is time to turn towards the house full of stuff. The planner may have verbalized or even listed out what goes to who and what should be tossed versus donated. But the bottom line is, they are less likely to be present to give this type of direction to whoever is left to manage this process. The adult children are often the ones left managing this chore, along with prepping the home for sale. It is important to understand the elder is often in hands off, leaving others to manage these very personal details. Adult children and grandchildren may be required to spend their vacation time working on this process, adding new pressures to their world.

Someone with a Plan: 

Those who have already moved to a retirement community have done the downsizing and rid themselves of the home, dramatically shrinking the chore for loved ones. The job is already done but mostly importantly, the elder was the one calling all of the shots.

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While this is only one scenario, it seems to illustrate the difference between a planner and someone who actually has a plan quite well. Perhaps this is why more and more seniors are choosing LIFE CARE communities over their home. If you are ready to have a plan rather than remain in planning mode, start by visiting area senior living communities for a tour. Be sure to ask about their LIFE CARE contract to explore what a solid plan could look like for you.

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