A free review service now helps families who are paying for senior care determine whether an Immediate Care Plan could convert part of a loved one’s savings into monthly income to cover the shortfall. CareFundingReview.com, based in Minneapolis, Minnesota, examines care costs, dependable income, health, and available assets to identify the monthly gap and assess whether the plan fits the situation.
The company serves families facing a current senior care bill. Its primary clients are adult children and powers of attorney arranging care or paying bills for a parent, spouses paying for a husband’s or wife’s assisted living, memory care, nursing care, or paid care at home, and older adults receiving paid care who are making their own financial decisions. Senior living communities, home care providers, and placement professionals may refer families to the business, but the client is the person or family making the care funding decision.
“The care bill shows up every month, whether your family has a funding plan or not,” said Ray Alkalai, Care Funding Specialist. “Before you keep covering the gap from savings, find out whether an Immediate Care Plan could turn part of those savings into monthly income for care. The review is free. The time to ask is while you still have choices.”
Alkalai started in the insurance and financial industry 20 years ago. His business evolved into income and long term care planning for pre-retirees and retirees. “The more I learned about the care funding gap in most retirement plans, the more I realized there is a need there,” he said.
Through senior care funding solutions, families receive a clear explanation of whether an Immediate Care Plan fits their situation before deciding what to do next. The review examines the monthly shortfall between care costs and dependable income. It then assesses whether the plan could turn part of a loved one’s savings into monthly income to help pay for assisted living, memory care, nursing care, or paid care at home.
Alkalai said the approach can plan for a better income in retirement even if there is a long term care event, but more importantly, it provides a financial solution when there is a crisis of needing immediate care. The service is free, and the time to ask is while families still have choices.