The Press-Dispatch
Issue link: http://www.ifoldsflip.com/i/169641
B-6 The Press-Dispatch Wednesday, September 11, 2013 Focus on the money: Assessing care costs for an aging relative Faced with the high cost of inhome care, many Americans end up providing care themselves for an aging parent or relative with a chronic condition. But by doing so, you may be putting your own finances, and even your health, at risk. The number of adults caring for someone with a serious health problem is on the rise and is likely to continue growing as the population ages. Nearly 40 percent of American adults are caring for someone with a significant health issue, up from 30 percent in 2010, a recent survey from the Pew Research Center finds. Those who care for an older family member are more likely to report poor health themselves, and to shortchange their own financial future, according to studies from the National Alliance for Caregiving and the MetLife Mature Market Institute. Taking time away from work to make doctor calls, check on Mom or Dad, leave early to take them to a doctor's appointment or stop by the pharmacy are all financial repercussions. The relentless demands can drive you to leave your job, at least temporarily, but that has financial repercussions beyond the short-term loss of wages. The Family and Medical Leave Act, which requires certain types of employers to grant personal leave, doesn't apply to all workers, and the leave is unpaid. The impact is particularly significant for women. A female caregiver who leaves the workforce will lose, on average, more than $324,000 in wages, Social Security and pension benefits over a lifetime, according to a 2011 study from MetLife and the caregiving alliance. "So many people, particularly women, say, 'I'll quit my job for six months to take care of Mom, and we'll work out the finances,' " said Gail Hunt, president and chief executive of the caregiving alliance. "What they don't think about is the impact on their Social Security and benefits down the road, as well as losing actual dollars from their income." Here are some questions to consider when deciding how to handle care for a family member: 1. Does Medicare cover home health care? Only in limited circumstances, after a patient is discharged from a hospital stay; it general- ly won't cover home care on an extended basis. 2. Does long-term care insurance cover home care? Most policies do, if your family member has purchased a policy, which can be quite costly. Coverage varies, so check the policy for specifics. 3. Doesn't Medicaid cover home care? Yes, but eligibility requirements are usually narrow, and income limits are quite low. Some states have special waiver programs that cover care in an assisted-living facility; contact your state Medicaid agency. Sales Associate Associate Broker MAKE AN oFFER! 2634 W CR 125 S, Petersburg Beautiful custom-built home on 25 acres! Ceramic and wood flooring with very nice custom-built wooden cabinets. Very nice attached garage that would be an easy conversion to a bedroom as well. The house has copper plumbing with an extra water meter, two extra septic tanks, and an extra electric transformer on the property. There are 2 separate garages. MLS#192946 $274,900 MovE IN READy! 4806 E Dove Ct, Dale This one story ranch has a lot to offer. The exterior is a mix of stone/frame. Inside you will find a large family room with a vaulted ceiling, exposed beams, and a beautiful custom front window. You will love the "open concept" kitchen and dining area with a breakfast bar. With a .65 acre lot, there is plenty of room to roam. Call Joe Schitter at 449-6469. MLS#200766 $169,900 103 E North St, Petersburg 1510 E Main St, Petersburg Move right in to this spacious and beautifully remodelled home. Recent updates include electrical, plumbing, roof, windows and siding. Over 3,300 sq. ft. and partially finished basement. Bonus rooms can be utilized as bedrooms. A 36'x24' detached garage and offers storage, workshop and vehicle cover. Call Darron Albin at 483-6708. $139,900 MLS#200339 NEW LISTING! Brick ranch on almost five acres in Algiers, Jefferson township with out building and large rooms. Well built older home, dated with all kinds of potential. Great area, attached garage in a great neighborhood. MLS#202418 $94,900 Solid brick ranch 3/4 bedrooms, three baths with over 2,300 sq. ft. above ground, basement, attached garage and lots of open living space. Very nice home with tiled bathrooms, solid oak floors, a front porch and back porch, above ground pool with deck, yard barn and stainless appliances. The basement includes lot of storage, a family room, more potential rooms, a work area and a bonus room currently used as a bedroom with private bath and walk in closet. MLS#202336 $154,900 309 Hillside Drive, Washington Beautiful fieldstone home (with red cedar siding) in a great location with large rooms and a nice flow. Built in 1976, updates include: roof, windows, electrical, plumbing, front door, patio door, storm door, patio supports and more. This three bed two bath total electric home with heat pump includes a two car attached garage, fieldstone fireplace and cathedral ceilings. MLS# 200335 $128,900 210 N 9th St, Petersburg 5719 E SR 56, Otwell NEW LISTING! 402 S. Hickory, Petersburg Classy, well built 3 bed, 1 1/2 bath brick ranch family home with finished basement and many updates including new hardwood flooring, newer roof & newer HVAC. House includes over 2200 square feet above ground with screened in back porch and attached two car garage. Located in Eastwood $199,000 subdivision. MLS# 200137 NEW LISTING! Lots of space with many updates in this traditionally styled house with character in a convenient location. Large rooms and open areas plus a large open upstairs. Updates include newer laminate flooring, newer carpet upstairs, newer roof and some fresh paint. Home includes cellar, off street parking and an out building built as a playhouse, used for storage. MLS# 201946 $84,900 3368 N County Road 850 E, Otwell Wonderful three bedroom, two bath house located in the country outside of Otwell. This house features an open concept kitchen, dining and living room for entertaining. Plenty of storage space. A 10' X 16' Storage barn provides more storage space and an open lean-to on the side provides a place for lawn equipment. MLS#197833 $75,000 1509 E Main St, Petersburg Bank owned property that had been updated. Three bedroom home, two bathrooms, newer two car garage, newer roof, newer furnace and air conditioner. MLS# 202078 MoTIvATED SELLER! 1412 Akin Dr, Evansville Move right in to this cozy well-maintained home in a quiet neighborhood only a block from Akin Park. The living room / dining room is very spacious, and the eat-in kitchen provides plenty of storage. Large backyard that is private. A nice detached one-car garage with an additional carport cover. Home has updated electrical and plumbing systems, and the water heater is new. MLS#200452 $65,900 305 N 11th St, Petersburg 508 S 10th St, Petersburg Nicely upgraded two bedroom one bath home with an open walk-out and walk- up basement, laminate floors, screened in porch, good sized living room and a nice neighborhood. Seller is being relocated and is motivated to sell. Let's look and make an offer! Nicely remodeled home with many new features including self contained heating and air unit, cabinets, bathroom, flooring, plumbing, electrical, windows and more! Very well done. A nice smaller home with little maintenance. One large bedroom downstairs and a second bedroom upstairs. MLS#201211 MLS# 201739 $64,900 $ 55,000 NEW LISTING! $ 62,900 SuCCESS SToRIES SoLD! SoLD! SoLD! PRICE REDuCED! SoLD!` 1403 Cedar St, Evansville 1014 N West Dr, Oakland City 5361 N CR 500 E, Petersburg 1835 E Alford Rd, Petersburg 1836 E Main St, Petersburg SALE PENDING! SALE PENDING! SALE PENDING! SALE PENDING! 11 & 13 SE 3rd, Washington 0 N State Road 257, Otwell 796 W CR 125 S, Petersburg 4727 S Old SR 64, Winslow SALE PENDING! SALE PENDING! SALE PENDING! SALE PENDING! 302 East St, Winslow 9020 E CR 200 N, Otwell 301 S First St, Petersburg 1213 E Spruce St, Petersburg Very nice well-maintained 1-bedroom home near Cedar Hall School. Quick access to Diamond Avenue and shopping areas. Very comfortable living at a very affordable price! A must-see property! Call Darron Albin at 483-6708 $142,900 LIST PRICE $130,900 MLS# 196090 LIST PRICE $109,500 $169,900 LIST PRICE LIST PRICE MLS# 193458 MLS# 201341 $109,900 $99,900 LIST PRICE LIST PRICE MLS# 197873 MLS# 188345 $72,900 LIST PRICE MLS# 190376 $6,300 MLS# 199619 $219,900 LIST PRICE MLS# 200363 $124,900 LIST PRICE MLS# 195414 $32,900 Congrats Joe! $82,900 LIST PRICE MLS# 194254 HuD LIST PRICE MLS# 195812 $74,900 LIST PRICE MLS# 201205 SALE PENDING! SALE PENDING! SALE PENDING! 2438 W CR 200 S, Petersburg 4727 S Old SR 64, Winslow MLS# 195356 $34,900 SALE PENDING! 6684 W SR 65, Petersburg 15220 Old Henderson Rd, E'ville Looking for a place to get away close to home? This river camp offers a .25 Acre river front lot and charming smaller cabin to spend your quality time relaxing. Fantastic river views and great location. Call Joe Schitter at 449-6469 0 S Old SR 64, Winslow $89,900 LIST PRICE MLS# 201021 $82,900 LIST PRICE MLS# 197454 Congrats Joe! $90,000 LIST PRICE MLS# 194268 Congrats Joe! $36,000 LIST PRICE MLS# 197603 Interest rates are rIsIng soon! Buy your new home now, call 354-2006! 3212 N PR 25 E, Petersburg Beautiful private location, convenient to I-69 but very peaceful with no traffic. Well kept older 14' x 64' mobile home on a nearly level 1.25 acre lot with some trees and a 32' x 24' garage. This would be a great building site with a livable home in the meantime. Includes a 1,000 gallon leach septic system, electric, Petersburg water and propane. Easy to heat. MLS#201142 $29,900