How to Plan for Future Care Costs When You Are Living with a Disability

by Ed Carter
Living with a disability can mean living with unique challenges when it comes to your care. Those challenges can result in added health and living expenses, which you may have no issue covering at this point in your life. As you grow older and your care needs increase, however, it’s important to have a plan in place that will prevent those costs from overwhelming your finances, or even prevent you from accessing the care you need, and planning for these things can help.
 
Adequate Life Insurance  
 
One of the main reasons that you should plan for your future care is to protect your loved ones from having to assume any related costs. That’s why buying enough life insurance should be your top priority. Having enough life insurance coverage will ensure that your family members will have enough funds to pay for end-of-life expenses, including funeral costs and leftover medical debts. With so many tools, resources and guides available online, you can even purchase life insurance from the comfort of your own home, and online calculators can help you figure out how much insurance will provide the most peace of mind. No matter what your role is, whether you are the primary income earner or the primary care provider, having life insurance is a must if you want to protect loved ones from hardship during an already painful experience.
 
A Complete Estate Plan 
 
Life insurance can provide the financial cushion your family will need to stay afloat if you should unexpectedly pass away. If you want those funds to provide the maximum financial benefit to your family, however, you also need an estate plan. Although life insurance funds will pass to your beneficiaries, establishing additional layers of financial protection, such as a will and trusts, can prevent your assets from being distributed by the state and can also help surviving family members avoid costly probate and estate taxes. You may be able to use online tools for basic estate planning, but hiring an estate attorney is your best bet for making sure these documents are legal and that your final wishes are carried out after your passing. Another option is to hire a financial planner to walk you through some of these estate planning steps.
 
Legal Advice and Paperwork 
 
If you want to establish a financial plan for your future care and ensure that plan is carried out by your loved ones, then you will also want to discuss essential caregiving documents with your attorney. For example, if you would like a relative to be able to make decisions regarding your medical care when you cannot do so yourself, you will need a durable power of attorney for healthcare. In order for that family member to make financial decisions, you will need a standard power of attorney, but there are a couple of other legal documents that need to be in place in order for you to receive your desired level of care. Just like with an estate plan, completing this power of attorney and other living legal documents can require a lot of time and attention to detail. So, you may want to have an experienced attorney prepare this paperwork for you.
 
Some Extra Help 
 
If you are living with a disability and close to retiring, you may be more likely to need some variety of care as you get older. Many people find that residing in an assisted living facility enables them to get the help they need (e.g., cleaning, meal planning) while still remaining independent. Before choosing this option, be sure to tour local facilities to figure out which ones have the amenities you need and fit your budget. For instance, in Alabama, the median cost per year for residing in assisted living is $39,000.
 
Creating a financial plan can help ensure that you receive the best care. It can also protect your family from undue financial burdens. So, make sure you include the must-haves above in your financial plan for your future care.

Taste for a Cure 2020 Update!

Save the date Birmingham! PAA is thrilled to announce that Taste for a Cure 2020 is Thursday, April 2 at 6:00 PM. We look forward to seeing you again at Haven for another great evening of:

Proceeds benefit medical research towards a cure for Parkinson’s disease. Tickets may be purchased online now and you can follow us on Facebook, Twitter or Instagram for the latest updates. If you’d like to be a sponsor for this event, please contact Bibby Bailey for more information.

Current Confirmed Sponsors:

Ernest G. DeBakey Charitable Foundation, MW/Davis Dumas & Associates, Kolbe Clinic, Acadia Pharmaceuticals, Ilene and Allan Wilensky, Rusty and Carol Stewart and many more to come!

Current Confirmed In-kind:

Stay tuned this week for more restaurant, sponsor and live auction announcements and info on purchasing tickets!

Kendra Gives Back at the Summit!

PAA is thrilled to be the beneficiary of a Kendra Gives Back Event! Join us on Thursday, April 23rd from 5 – 7 PM at Kendra Scott Birmingham for a special giveback event in honor of Parkinson Awareness Month! During the event, Kendra Scott Birmingham will be giving 20% of all proceeds back to the Parkinson Association of Alabama to help raise awareness for Parkinson’s Disease as well as help fund resources for those with PD. If you cannot make it in-store for the event, feel free to call the store at 205-545-5249 to place a phone order with complimentary shipping! We hope to see you there!

Save the Date! Taste for a Cure 2020

Save the date Birmingham! PAA is thrilled to announce that Taste for a Cure 2020 is Thursday, April 2 at 6:00 PM. We look forward to seeing you again at Haven for another great evening of:

Proceeds benefit medical research towards a cure for Parkinson’s disease. Tickets will be on sale soon and you can follow us on Facebook, Twitter or Instagram for the latest updates. If you’d like to be a sponsor for this event, please contact Bibby Bailey for more information.

LSVT BIG Seminar for people with Parkinsons – Cancelled

The LSVT Global seminar, previously scheduled for April 19, 2020 in Birmingham, has been cancelled.

 

LSVT Global invites you to a free, one-hour presentation on the effective, evidence- based LSVT BIG treatment program on Sunday, April 19, 2020 at UAB West Pavilion Conference Center (Room E) in Birmingham from 12:00 – 2:00 PM. Following this educational lecture, we invite individuals with PD to try the LSVT BIG exercises with physical and occupational therapists who are attending our LSVT BIG Training and Certification Course this same weekend.

This seminar is free but has limited capacity. If you are interested in attending, please RSVP at 888.438.5788 or info@LSVTGlobal.com.

Visit our events calendar here for full event details or click this link to review the LSVT BIG Seminar Brochure.

The Apple Watch just got a lot better at tracking symptoms of Parkinson’s Disease

by |

The Apple Watch will soon be able to track tremors experienced by Parkinson’s Disease patients to help them manage their condition.

Later this year, Apple will release a software update to make it easier for medical researchers to understand the difference between a random movement, and the shakes and dyskinesia that Parkinson’s patients experience when they’re getting treated with medications.

Apple made the announcement this week at its developer conference, WWDC.

The new “movement disorder API” will accelerate research that’s already underway in how wearable devices can be used to track the progression of Parkinson’s, said Peter Schmidt, a Parkinson’s researcher and vice dean of the Brody School of Medicine at East Carolina University, who has been advising Apple’s health team.

About 60,000 people are diagnosed every year with Parkinson’s in the U.S. alone and an estimated 10 million people have the disease globally. Not all of these patients will have access to an Apple Watch, or be able to afford one, but Apple is starting to work with health insurance companies like Aetna in figuring out ways to subsidize the cost.

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Source: CNBC