The needs of the senior community and their families are many and can often cause financial stress. The Aging/Elderly Care Loan from HFLSD offers assistance with the following:
Common services “expert aging managers” perform:
● Finding the right in-home aide or handling a move into a facility
● Recommending local socialization programs
● Setting up home modifications, meal delivery, and transportation
● Helping the family find the right legal resource
● Navigating Medicare, Medicaid, Social Security and Veterans’ benefits
● Advocating when a senior client is in a medical institution such as a hospital or skilled nursing facility
● Assist in finding grants and other programs to obtain discounted/free resources
● Managing monthly bills
● Can serve as a “child” for the day if an adult child is unable to be there for aging parent
Caring for an aging family member can be a very demanding and stressful task. It can be difficult to find time to take care of oneself, or even to get the house in order. Respite packages can provide much-needed relief for caregivers. These packages can include services such as transportation, meals, and companionship for the parent, as well as help with household chores, and activities for daily living. They can also include support to ensure the emotional well-being for the caregiver. Respite packages can give caregivers a much-needed break and can help them to maintain their own health.
Caregivers of family members with dementia often face financial challenges. They may need to take time off work to care for the family member, which can lead to lost income. They may also incur additional expenses, such as for medical care, transportation, adult daycare programs and home modifications.
Palliative care and hospice care are both focused on the needs of the patient, the patient’s family and their quality of life. Palliative care focuses on maintaining the highest quality of life while managing treatment and other needs, regardless of the stage of the disease. Hospice care specifically focuses on the period closest to death, providing comfort and support to the patient and their family. HFLSD wants to support the entire family during this difficult time, and understands that there are costs associated that are not covered by Medicare.
An interest-free loan can be a helpful option for seniors that are relocating to a retirement community or for families that are already caring for their aging parents and realize it is now time to move. The loan can be used as a bridge loan to help cover the costs of moving and the first few months of living in the retirement community. The cost of packing services and moving can range from $3,000 to $10,000, depending on the size of the home and the distance of the move. This can be a significant expense for people who are on a fixed income, so an interest-free loan can be a helpful way to cover these costs. If sale of a property is pending, then repayment of the loan is typically made upon the sale of the property.
Families who need short-term home care can get loans for the following:
● Nurses: Nurses can provide medical care and support to those who need it. They can help with bathing, dressing, eating, and taking medication.
● In-home care providers: In-home care providers can provide assistance with activities of daily living, such as cooking, cleaning, and transportation. They can also provide companionship and emotional support.
● Companions: Companions can provide companionship and emotional support to
those who are lonely or isolated. They can also help with activities of daily living, such as cooking, cleaning, and transportation.
● Durable medical equipment and supplies: Durable medical equipment and supplies can help people with disabilities or chronic illnesses live more independently. This equipment can include wheelchairs, walkers, and hospital beds.
Loans are available to help families cover the costs of these services. The amount of the loan will depend on the family’s needs and financial situation.
To remain in the home, some changes may need to happen to make it safer and more
accessible. Here are some examples of what an HFLSD loan will cover:
● Install rails and ramps to make it easier to get around.
● Install automatic lights to make it easier to see in low-light conditions.
● Make modifications to a kitchen and bathroom to make them safer and easier to use. This could include installing grab bars, lowering cabinets, and widening doorways.
● Install systems and technologies for fall alert and monitoring.
● Change the flooring in the home to make it less slippery.
These changes can make a home safer and more accessible, allowing one to live independently for longer.
At Hebrew Free Loan of San Diego, we rely on guarantors instead of collateral to secure your loan. A guarantor is someone who can guarantee to pay back the loan if you do not. A guarantor is at least 25 years old, lives in California and has a credit score of 670 or better. A friend, family member or employer are examples of a guarantor.