Can You Afford to Age in Place

by Jeff Dailey February 1, 2017

written by Jeff Dailey February 1, 2017

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As many Americans are living longer these days, many may be asking themselves, can I afford to get older? Can You Afford to Age in Place
According to the Social Security Administration, the life expectancy of Americans is well into their 80’s.
We take a look at how elderly people are getting by and not breaking the bank as they age.
It’s inevitable that everyone will experience a sickness in their lifetime, but what would you do if the next time you fell ill it would bury you financially. Can You Afford to Age in Place
For many people over the age of 65 that’s just the case.
“I think that we do need to look at preparing, we have a terrible with medical expenses with seniors, we’re all really just one disease away from poverty and that’s especially true with seniors, because they don’t have a way to recoup that income,” says Shawna Wasko with the CSI Office on Aging.
While this is the case for many people there are places out there that can help seniors remain on their feet financially.
For 91 year old Peggy Mowry, one fall almost ended her financial freedom, but thanks to Hospice Visions, she has been able to remain somewhat independent.
“When I fell, I fell backwards and it took the hearing out of the left ear and my equilibrium doesn’t work well, so I had the therapy with the visions. I don’t really know the financial part, so I never received a bill of any kind,” said Mowry.
“We can provide that and also provide personal care several times a week in the home to assist them, instead of them having to pay out of pocket, or having to deal with insurances that won’t cover that,” said Lisa Schultz with Hospice Visions.
Some seniors have been financially prepared however taking care of themselves and loved ones can become difficult.
“Yes I do live here alone for the last over two years now and I’m very grateful to have the home that we’ve had for so many years here, but my husband has to be in a small care center in Boise and I go up every week or two, to see him,” said senior citizen Bonnie Barsness.
“I do like to see seniors think about, can you age in place in the home you’re in and is it time to sell the big place and get a smaller place? And, you’re able to keep care of it better,” said Wasko.
Thanks to medical technology seniors are living longer, but at what cost.
KMVT-TV / KSVT-TV