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As the average lifespan of human beings are increasing, more and more adult children are taking care of their aging parents who have depleted all their savings. According to Genworth Cost of Care Survey, the yearly cost of a one-bedroom apartment in an assisted living community is around $42,000 per year. On the other hand, a private room that you get in the nursing homes cost you more than $88,000 in a year. Being able to pay for care needs understanding options through careful planning and thorough research. Offering care to your parents can sometimes get over your estimated budget and this basically happens with you when you don’t know about the different choices. Did you know that there are federal programs for providing senior care? If you didn’t, check out some such programs.

  1. Medicare: You might not know but there is indeed more to it than Part A hospital and Part B medical insurance. If your parent is more than 65 years of age and is getting Social Security, the premiums of this kind of insurance policy are deduced from the monthly benefits that he gets. In case your parent is considered as low income, obtaining only Social Security, through Medicare, you may subsidize everything but 10% of the monthly premiums. Know about such options and save money while taking care of your parents.
  2. Social Security: If the Social Security benefits earned by your parent were based on lower-paying jobs and if these are the only source of income, he or they may be applying for SSI program or the Supplemental Security Income Program. This program can be run federally or also in combination with the state government. The medical welfare will also be operated directly through the state government.
  3. Administration on Aging: The AoA administers different national programs for the elders and some such programs include legal assistance, counseling for insurance and safeguarding them from elderly abuse. They have their government website and to know more on them, you may check their website.
  4. HIPAA: The Health Insurance Portability and Accountability Act of 1996offers elderly parent privacy for his medical reports and records. This is a restriction program on different health care providers. This protection should concern either you or your family members as without the signature of your parents, you can’t do the needful. For more information on this federal program, you may visit the federal website of HIPAA.
  5. Food and Drug Administration: It is perhaps a fact that your parent is taking around 5-10 medicines per day from different doctors. As a caregiver, you should know about the drugs, their function in the body and the side-effects, if there are any. The FDA offers a giant database on every drug that has been approved by this agency.

Hence, if you’re not being able to take care of your aging parents due to lack of cash, make sure you have enough information on the above mentioned government assistance programs. For more information, you may check out

About The Author

Sneha Srimani is a Bachelor of Science graduate in health education. She is also social media manager at Before coming to Nucleus Accumbens, she worked as a Jr. Medical Physicist. Now she decided to share her experience and medical information through this blog.