There’s no “one size fits all” solution when it comes to aged care. Individual care requirements are as varied as the amount of services available. Choosing the right aged care services for your situation can be a difficult and overwhelming process, especially when doing it alone. It’s best to break down the process into as many small steps as possible and seek professional advice.
Pushing for one form of aged care without exploring all available options can be financially risky and possibly detrimental to a person’s care. Evaluate your own or your loved one’s needs and capacity – ask yourself – what assistance is needed? This will help narrow down the options to a few specific points.
Instead of full-time care, maybe you only need to downsize or have an in-home carer visit to assist with a few home tasks. Above all, the opinion of the one needing care is the most important. What you, or your loved one, want out of your care should be the main focus.
The next step is the most daunting – planning and finance.
Aged care advice isn’t just about finances, it’s about making the right decision for you or your loved one’s lifestyle and care. Consulting a specialist advisor is the best way to prepare for the future. It can be a big spend but the benefits of professional guidance far outweigh the costs. Without it, the consequences can be disastrous. You can risk significantly overspending on aged care packages, being forced to pay back pensions needlessly, or even being locked out of your preferred plan.
Eric Hiam of Balance Aged Care Specialists is a leading expert in the field of Aged Care advice, with 20 years of experience in the industry and an additional 18 years as a financial planner. He says that the primary benefit of seeking professional aged care advice is in receiving specialised assistance that matches your needs and takes all aspects of your situation into account.
“Most people make an assumption that they don’t need advice. They think it’s only to do with their parent’s finances. They don’t realise that the rules and bureaucracy are very complex,” said Hiam.
Perhaps the most valuable aspect of aged care advice is getting assistance with the settling forms. A small mistake could mean massive consequences. There are many traps and pitfalls in the forms that are difficult to navigate without help. A professional will make sure that you get the best outcome, helping you avoid debt, losing valuable assets, and possibly saving you thousands.
Government websites can give information about different types of aged care, services nearby, and how to start the application process – which are useful places to start. However, they won’t be able to provide detailed advice specific to your exact circumstances online. “People often miss valuable information on these websites. They don’t know what they’re looking for,” says Hiam.
Relying only on internet research is perhaps one of the most dangerous things one could do. Eric’s advice is that there is almost more information out there and that the best place to get it is by seeking professional advice from those who specialise in the aged care sector.
Once you’ve received your aged care advice, Eremea will work with you to provide the solution you need and to make sure that you’re getting the best you can out of your aged care package.
Ph: 02 8814 7307