Family members of all kinds have fought over money matters since time immemorial, but it may be worse for cash-strapped caregiving families. The costs of caregiving activities, including hiring aides, buying supplie, and covering medical and pharmacy copays, negatively affect family caregivers’ pocketbooks and morale.
As we age and our health concerns increase, we often need some help with formerly easy tasks, like shopping or bathing. Many families turn to assisted living facilities to support and care for older relatives.
Legislation introduced last week in the House of Representatives would reform the tax code in an effort to make long-term care insurance more affordable and accessible for older adults.