RALEIGH, N.C. — The growing trend of adults providing long-term care for their elderly parents has prompted Coastal Federal Credit Union to help those who might need guidance here.
The $1.5 billion credit union will address some of the timely issues surrounding the trend at a Nov. 4 workshop. Representatives from various care providers and Coastal’s areas of expertise will lead two panel discussions, followed by four breakout sessions. Panelists will explain where they fit into the decision making process, and how individuals can understand and plan for long-term care options for their aging family members. The presentations and question and answer period will cover medical and non-medical care, adult day care, assisted living and skilled nursing facilities, continuing care, estate, retirement and investment planning, and Social Security.
Citing a study from the National Center on Women & Aging, Coastal said that caregivers of the elderly lose $659,130 over a lifetime in reduced salary and retirement benefits. The National Safety Council estimates 5 million Americans care for an aging parent, a figure that is projected to double within the next 20 years.