You’ve been careful with your pennies, saving for the eventuality of retirement. But once the future becomes the present, cutting corners can become even more necessary. The cessation of work means a change in lifestyle and a shift in money-spending habits, altering the balance between healthy living and healthcare costs. The good news is that the best options don’t always have to be the most expensive options.
Where to Live
When your health starts to decline at a more rapid rate, the affected population must weigh the options of where to live. These options range from a home health nurse to an assisted living facility to moving in with a family member. While cost is a major factor, the bounty of choices insures that there’s a perfect fit for everyone!
Home Health Care
For those who wish to remain in their home, there are services professionals who will travel to you, some being nurses while others are simply companions. Services include assistance with walking, housekeeping, and meal preparation, as well as medication assistance, help with hearing aids and conversation. The cost of a visiting nurse varies, but can be as little as one quarter of the cost of nursing facilities and has the added benefit of never having to leave home! It is important to shop around for the best fit. Not only is there a 30% differential in the cost of home healthcare agencies, but trusting the healthcare agent is equally important.
Live-In Facilities
Within move-in facilities, there are multiple choices.
- Independent living communities allow residents to lead unimpeded lives with the benefit of certain requested services, such as laundry or housekeeping.
- The next step is assisted living where residents choose to live if they experience more challenges when faced with everyday chores. With the benefit of medication monitoring and nurse check-ins, this can be a better option for residents needing more surveillance.
- Constant vigilance comes within nursing homes. Residents of nursing homes may only stay for a certain amount of time, or may only come to receive rehabilitative practices. Depending on the location and particular services granted, Medicaid and Medicare may cover these services.
Discounts in Retirement
After working hard to get to the point of retirement, everyone should get to enjoy it! A major part of that is being able to actually hear and see what is going on in your surroundings. While Medicaid pays for testing and exams, they do not pay for dentures, glasses, or hearing aids. Having an additional source of insurance comes in handy, but for those who are completely self-pay, there are cheaper, high-quality options. Memberships with AARP and AAA can provide discounts, particularly with glasses. Walmart and Costco also sell frames at a lower price than traditional optical centers. The Dental Lifeline Network is a good place to start with dental needs, as they provide comprehensive services at little to no cost.
Affordable Hearing Aids
Hearing aids can be one of the largest unexpected costs during retirement. Typically hearing aids cost anywhere from $5,000 – $8,000 at a clinic, with little help from insurance. What’s more, hearing aids are critical to have for those with hearing loss. Hearing aids can make life more enjoyable by allowing the wearer to easily engage in conversation with their family and friends and hear the small sounds around them that add sometime special to everyday life. Audicus solves this problem by selling affordable hearing aids online! While other manufacturers sell to providers who then pass on the surplus cost to the purchaser, Audicus cuts right to the chase and renders useless the middle man.
Despite tighter purse strings, retirement can be enjoyed by perusing your options and knowing you needs!
Sources: Visiting Angels, Alfa.org, Paying For Senior Care, NCOA, Dental Life Line