“Spend Down”
Fact: Older Men are much more likely than older women to be married. In 2007, only 38 percent of women age 75–84 were married, while only15 percent of women age 85 and over were married. Even among the oldest old the majority of men were married (60%).
Fact: Widowhood is more common among older women than older men (U.S. Census Bureau, current population survey, annual social and economic supplement).
Women tend to spend their savings on their husbands’ care, and then live alone for 15 to 20 years with far fewer resources.
Medicare pays only about half of older people’s health costs; the term for this is “spend down.”
Support Networks
For women planning ahead it’s important to develop a support network—not only for your parents, but for yourself later on. This can include family members who live near by, friends, neighbors, church or synagogue, or even a trusted building superintendent, says Marion Somers, PhD, author of Elder Care Made Easier: Doctor Marion’s 10 Steps to Help You Care for an Aging Loved One.
Tools for Care Givers
Powerful Tools for Caregivers is a six-week education program developed by Legacy Caregiver Services in Portland, Oregon. The program is designed for family and friends caring for older adults who have stroke, Alzheimer’s, Parkinson’s disease or similar long-term conditions. The program has been replicated in more than 20 states through collaborations with community-based organizations like AARP chapters and Area Agencies on Aging.