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Factors
to Consider When Making Financing
Long Term Care Decisions
Marlene
S.Stum, Ph.D. Family Social Science
Multiple
factors are known to influence family decisions
related to financing long term care. Recognizing
these factors and deciding which ones you can
control or impact should help you make more informed
decisions. A brief introduction to the factors
follows.
Individual
Characteristics of the Elder In Need of Long Term
Care
- Health
Status (diagnosis, prognosis, predictability)
- Age
- Gender
- Marital
Status
Factors
Within the Immediate Family
- Competing
goals
- Competing
demands
- Resources
available
- Perceptions
- Decision
makers involved
Factors
Outside the Family
- Long
term care options
- Professional
Help
- Financial
options
- Ambiguity
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