Stretch Your Eldercare Dollars by Phyllis Staff

Many elders fear outliving their retirement nestegg, so we put together a few of our best dollar-saving tips to help.

Select the lowest level of care possible

Many Assisted Living offer graduated levels of care. They may be able to meet your elder's needs with something less than 24-hour-a-day care. Among other services, they can provide

· medication reminders,

· transfers from bed to wheelchair,

· bathing, and,

· grooming and dressing help.

Monthly expenses will be significantly lower than those of nursing homes, perhaps as much as $1000 less each month.

Eldercare facilities that offer "aging in place" provide a double benefit. You reap the cost savings associated with lower levels of care, and your elder can relax, protected from the stresses of a future major move.

Look for care provided by nonprofit organizations.

Our research shows that, on average, nursing homes run by nonprofit organizations have about 1/3 fewer deficiencies than homes run by for-profit organizations. Homes run by large corporations, especially those that manage many facilities, have the greatest average number of deficiencies. By finding a nonprofit facility that provides suitable care, you could save thousands of dollars over the course of a year. And your elder may get better care.

A word of caution: I do not mean to imply that all nonprofit organizations provide good care or that all corporate homes offer poor care. It depends on the particular organization. Once you have visited a specific facility several times you'll have a reasonably accurate evaluation of the quality of care practiced there.

Slash the Costs of Prescription Medications

Your saving can mount into thousands of dollars each year if you use only one or two of these tactics.

1. Ask your doctor for generic substitutes;

2. Order brand-name prescriptions from out-of-the-country pharmacies, notably those in Canada.

3. Use Pillbot (http://www.pillbot.com) to find the least expensive prices in US pharmacies.

4. Apply for reduced-cost or free medications. Pharmaceutical companies often have programs that provide reduced-cost or free prescriptions available to elders who cannot afford them otherwise. Ask your doctor whether such programs are available for the prescriptions your elder needs.

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BIO:

Phyllis Staff, Ph.D. - Phyllis Staff is an experimental psychologist and the CEO of The Best Is Yet.Net, an internet company that helps seniors and caregivers find trustworthy residential care. She is the author of How to Find Great Senior Housing: A Roadmap for Elders and Those Who Love Them. She is also the daughter of a victim of Alzheimer's disease. Visit the author's web site at http://www.thebestisyet.net.

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