My Mom has lived with me since 12/9/07, is there a way to be compensated for this in the future? - AgingCare.com

My Mom has lived with me since 12/9/07, is there a way to be compensated for this in the future?

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What level is her alzheimer's / dementia? How old is she? What resources does she have to pay for the care she will need in the future since she has alzheimer's / dementia?

How is your own health and finances holding up? What does your own retirement look like or are you already retired?

At some point, her health needs will become far more than you as one person will be able to meet 24/7.

Here's the basic answer to your inquiry.

Majority of grown children do not get paid for caring for their parent, unless the parent is financially able to pay from their own pocket. If a parent can afford to pay you, the parent might as well hire a certified trained caregiver… thus allowing you to keep a full-time job so that you can add to your own retirement.

If your parent qualifies for Medicaid, the State might allow a trained Caregiver from an Agency to come in to help a couple hours a day. Check to see if your State has “Cash and Counseling” program. Note that each State has their own rules, regulations, and programs. Some have waiting lists.

Also, check with your local Council on Aging to see what programs they offer, such as an Aide coming to the house.https://www.agingcare.com/local/Area-Agency-on-Aging

Here is one thing to think about if one is trying to decide whether to quit work to care for an aging parent.... on average if a working person quits work he/she will lose over the years between $285,000 and $325,000 which includes loss of salary, plus net worth loss of the health insurance, loss of money being put into social security/ Medicare, loss of other benefits such as matching 401(k), profit sharing, etc. [source: Reuters 5/30/12]
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