Georgia Voices for Medicaid Powerpoint - Fulton countyAlyssa Green, MPA
This presentation explains what Medicaid program is, who it protects, the creation of the coverage gap and what Medicaid advocacy looks like in the state of Georgia.
This presentation explains what Medicaid program is, who it protects, the creation of the coverage gap and what Medicaid advocacy looks like in the state of Georgia.
This presentation explains what Medicaid program is, who it protects, the creation of the coverage gap and what Medicaid advocacy looks like in the state of Georgia.
Long-term care is a growing concern among seniors and Baby Boomers alike. Yet few take the first step to planning for their care. Many don't know where to begin. Use our presentation to understand what LTC insurance covers and learn about alternate strategies to protect your assets, your family and your finances as you age.
Georgia Voices for Medicaid Powerpoint - Fulton countyAlyssa Green, MPA
This presentation explains what Medicaid program is, who it protects, the creation of the coverage gap and what Medicaid advocacy looks like in the state of Georgia.
This presentation explains what Medicaid program is, who it protects, the creation of the coverage gap and what Medicaid advocacy looks like in the state of Georgia.
This presentation explains what Medicaid program is, who it protects, the creation of the coverage gap and what Medicaid advocacy looks like in the state of Georgia.
Long-term care is a growing concern among seniors and Baby Boomers alike. Yet few take the first step to planning for their care. Many don't know where to begin. Use our presentation to understand what LTC insurance covers and learn about alternate strategies to protect your assets, your family and your finances as you age.
It may be difficult to face the fact that your health may decline, but statistics suggest that approximately 70% of people will need long term care services at some point after age 65. This presentation advises on proactive long term care planning, including types of long term care, managing the cost of long term care, and long term care insurance options.
How many people in this room expect to need long-term care one day? It’s not surprising that few of us do, because it’s hard to face the fact that our health might decline. But statistics suggest that the risk is greater than we think. Approximately 70% of us--that’s 7 out of every 10 people here today--will need some type of long-term care services during our lifetimes at some point after we reach age 65. And though it's good news that people are living longer, a long life span increases the chance of developing serious health problems. In fact, according to the Alzheimer’s Association, one in nine people age 65 and older has Alzheimer’s disease, which often leads to the need for nursing home care. And while older people are more likely to need long-term care, younger people may need care too, as a result of a disabling accident or illness such as multiple sclerosis or Parkinson’s disease.
This isn’t meant to scare you, but rather to remind you that the need for long-term care can happen to anyone at any time. The need to be prepared is real, and something that you shouldn’t ignore.
With the cost of Long Term Care Insurance continuing to rise, advisors look for new ways to deliver meaningful solutions to address the needs of the clients at death… and during their lives. We’ll take a closer look at what’s going on in the LTC Marketplace, and what solutions are appropriate to meet the needs of your high net worth clients.
What Is the Medicaid Maintenance Needs Allowance in ConnecticutBarry D Horowitz
Medicaid will pay for help with your activities of daily living. In fact, it pays for most of the long-term care that seniors are receiving. Learn more medicaid monthly maintenance needs allowance in Connecticut in this presentation.
Long-Term Care isn't just for the elderly, and it isn't just about nursing homes. It's about having the assistance you need during an extended illness or injury at any time of life. Please read this guide. As always we are here to help.
This presentation shares information on the Medicaid program, who it supports, why its important, changes due to the covid19 pandemic and how to become a health advocate!
It may be difficult to face the fact that your health may decline, but statistics suggest that approximately 70% of people will need long term care services at some point after age 65. This presentation advises on proactive long term care planning, including types of long term care, managing the cost of long term care, and long term care insurance options.
How many people in this room expect to need long-term care one day? It’s not surprising that few of us do, because it’s hard to face the fact that our health might decline. But statistics suggest that the risk is greater than we think. Approximately 70% of us--that’s 7 out of every 10 people here today--will need some type of long-term care services during our lifetimes at some point after we reach age 65. And though it's good news that people are living longer, a long life span increases the chance of developing serious health problems. In fact, according to the Alzheimer’s Association, one in nine people age 65 and older has Alzheimer’s disease, which often leads to the need for nursing home care. And while older people are more likely to need long-term care, younger people may need care too, as a result of a disabling accident or illness such as multiple sclerosis or Parkinson’s disease.
This isn’t meant to scare you, but rather to remind you that the need for long-term care can happen to anyone at any time. The need to be prepared is real, and something that you shouldn’t ignore.
With the cost of Long Term Care Insurance continuing to rise, advisors look for new ways to deliver meaningful solutions to address the needs of the clients at death… and during their lives. We’ll take a closer look at what’s going on in the LTC Marketplace, and what solutions are appropriate to meet the needs of your high net worth clients.
What Is the Medicaid Maintenance Needs Allowance in ConnecticutBarry D Horowitz
Medicaid will pay for help with your activities of daily living. In fact, it pays for most of the long-term care that seniors are receiving. Learn more medicaid monthly maintenance needs allowance in Connecticut in this presentation.
Long-Term Care isn't just for the elderly, and it isn't just about nursing homes. It's about having the assistance you need during an extended illness or injury at any time of life. Please read this guide. As always we are here to help.
This presentation shares information on the Medicaid program, who it supports, why its important, changes due to the covid19 pandemic and how to become a health advocate!
Is planning for Long Term Care something that you have been putting off? Maybe never crossed your mind? Take a few minutes to look at "Long Term Care Planning 101" and learn about the three and only three ways to pay for care.
Providing Support To Employers And Working Caregivers 6 14 2010 2Elderplanner
Our “Elder Life Planning for Organizations” program allows non-profit and small eldercare enterprises
to offer a comprehensive eldercare program to employers, banks, membership organizations and faith based communities without the significant capital outlay that would otherwise be required.
1 Chapter 8 Older People and Long-Term Care I.docxaulasnilda
1
Chapter 8
Older People and Long-Term
Care: Issues of Access
3
Why the New Interest in Long-term Care?
• The Baby Boomers are adding to the growth in
the population over 65.
• There is increasing fear of dependency on
long-term care.
• Adult children of the elderly having to find
care for their parents.
• Healthcare reform promises great changes
that are not well understood.
4
The Growing Population Needing Care
• The need for ADL and IADL assistance
continues to grow.
• Table 8-1 presents the broad range of services
needed by the disabled.
• Most of the population needing long-term
care do not live in nursing homes.
• Many factors contribute to the inability to
predict the exact number needing services in
the future.
5
The Growing Population Needing Care
• Future populations may be better educated
which is associated with lower levels of
disability.
• Ethnic composition suggests a greater need
for care and government support.
• Boomers will bring greater numbers of people
needing services.
• The number those over 75 will greatly
increase.
6
The Growing Population Needing Care
• Disability rate will increase among those who
are not in nursing homes.
• The most common disability is physical.
• In addition, the nursing home population is
expected have profound increases until it
triples by 2030.
• The number of younger persons with disability
has also increased.
7
Issues of Access
• The current system is far from ideal.
• There is not an adequate supply particularly
for the poor.
• The system itself continues to be so
fragmented that many are not aware of what
is offered.
• Financing is an underlying problem.
8
The Costs of Care
• Expenses for this care are sizable and will
increase in the future.
• Private insurance only pays for a small
percentage of the care.
• Medicaid pays for over 85% of nursing home
care.
9
The Costs of Care
• Annual costs of nursing home care can
average $58,000 per year and may exceed
$100,000. For many, the costs of this care is
just not affordable.
• With the addition of the Baby Boomers, costs
will most certainly increase in the future.
• The effects of reform are not currently known.
10
The Care-Giving Role of Families
• About 74% of dependent community-based
elders receive care from family members.
• The majority of caregivers are women.
• The number and willingness of family
caregivers may decline as the Boomers
become in need for assistance.
11
The Role of Private Insurance
• Private insurance for long-term care is a
relatively new product.
• Improvements in coverage are being made,
but only an estimated 20% of the population
will use it.
• CCRCs and LCAHs hold promise for the future.
12
The Role of Medicaid
• Medicaid is changing under PPACA to include
more eligible adults who will receive
benchmark coverage.
• Medicaid is .
Long-term care (LTC) goes beyond medical care to include
all the assistance you could need if you ever have a chronic
illness or disability that leaves you unable to care for yourself
for an extended period of time (longer than 90 days). While
older people generally require the most long-term care services,
40% of long-term care claims are paid to someone under the
age of 64.* A young or middle aged person who has suffered a
debilitating illness or accident may also require care.
This workshop features three parts:
Secret #1: Converting Life Insurance to a Life Care Benefit Plan. There is $500 billion in life insurance death benefit in the hands of senior citizens 65 years or older in the US today, yet 88% of all policies will either lapse or be surrendered for little of no value. Find out if converting this benefit into a Life Care plan benefit is available to you.
Secret #2: Accessing Veterans Benefits. Veterans and surviving spouses can qualify for over $2,000 per month in long-term care services. Find out how.
Secret #3: Utilizing Long-Term Care Insurance or other Third Party Payors. Navigate your policy and uncover other local community payment relief options.
ACA: A Step Toward Healthcare For All (Dr. John Cavacece, DO)Zach Jarou
Presented to the American Medical Student Association (www.AMSA.org) at Michigan State University's College of Human Medicine (MSU CHM) on Tuesday, March 20, 2012
Cost of assisted living & ways to cover itTomash Skreba
Sometimes people get complicated with what assisted living cost is made up and what are the possibilities of covering it. In this brochure you can find any possible info concerning these aspects and even more. You can upload it http://www.autumngrove.com/wp-content/uploads/cost-of-assisted-living.pdf
Are you prepared for the risk of needing long term care for you or your spouse? Even if you think you are prepared, this presentation will provide even the casual observer some important information. Don't wait until it's too late when you cannot do anything about this, start designing your plan now with the help of this presentation.
SPRINGHILL GROUP: Cost and Coverage of Home CareKatara Kumar
Nursing home is a home combined with skilled nursing care, rehabilitative care, medical services, personal care, and recreation in a supervised and environment. Letting your love ones stay in the nursing home may be hardest decision but choosing the right home will be next hardest. Entering the nursing home doesn’t mean that the family involvement ends, instead it is their responsibility to make sure that the home care provides good care.
Similar to Planning for Your Future - - All About Long Term Care (20)
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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This strategic move aims to redefine and elevate the banking experience for customers.
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how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
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how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
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The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
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While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Planning for Your Future - - All About Long Term Care
1. Planning For the Future:
Long Term Care
Jennifer Lavelli
Certified Senior Advisor
Life, Disability and Health Insurance Advisor
2. Topics We’ll Cover Today
• Why Are We Hearing So Much About Long Term Care (LTC)?
• What is LTC?
• What Does it Cost to Receive LTC, and How is it Paid For?
• Planning for Future Needs
• Resources
3. Why Are We Hearing So Much About Long
Term Care?
What’s New, What’s Changed?
4. The World’s New
Demographics• For the first time in history, people aged 65 and over will soon
outnumber children under the age of 5
• Throughout the world today, there are more people aged 65 and
older than the entire populations of Russia, Japan, France,
Germany and Australia—combined
• By 2030, 55 countries are expecting their 65 and older
populations to represent at least 20 percent of their total
• By 2050, the U.N. estimates that the proportion of the world's
population age 65 and over will more than double, from 7.6%
today to 16.2%
Source: United Nations, 2009
*Residential Care Facility in California
5. Other Dynamics
• The U.S. Dept. of Health and Human Services predicts that 70% of
all Americans age 65 and older will likely need some form of LTC
• Health care advances keep more people (of all ages) alive, and
often create a need for long term care where none existed
previously
• Alzheimer’s and other forms of dementia (and the associated need
for 24/7 care) are more likely as one ages (1 in 8 older Americans
currently have Alzheimer’s)
• Seniors with fixed incomes have longer lives, more care needs, and
higher healthcare costs - - this combination can have devastating
financial impacts
Source: U.S. Dept. of Health and Human Services’ National Clearinghouse for Long Term Care Information
7. Long Term Care Defined
• Long Term Care is a phrase used to define care required during a
persistent or chronic state of health, throughout which time a person
is unable to independently handle some of the basic activities of
daily living (ADL’s), or requires supervision due to cognitive
impairment (conditions that can be due to Alzheimer’s disease, brain
injury, or stroke)
• This type of care is referred to as Custodial Care, and most health
plans and insurances do not cover this care
• Activities of Daily Living (basic physical maneuvers that healthy
individuals perform daily without assistance) include:
- Eating - Bathing
- Dressing - Toileting
- Continence - Transferring (from bed to chair)
8. Other Levels of Care
• Though a need for assistance with ADL’s, or a cognitive impairment
define and “trigger” Long Term Care from an insurance perspective,
there are also Instrumental Activities of Daily Living (IADL’s) that
define another range of tasks considered instrumental to self-
sufficiency:
- Shopping - Preparing meals
- Performing household tasks - Doing laundry
- Managing money - Using the telephone
- Taking medications by oneself
9. Where Do People Receive LTC
Services?
• Family Home
• Adult Day Care Center
• Assisted Living Facility (ALF)
• Nursing Home
• Hospice Facility
*Residential Care Facility in California
10. Staying Home: the #1 Choice - - Who is
Providing Care?
• 65.7 million family caregivers make up 29% of the U.S. population
• 52 million family caregivers provide care to an adult 18+
• 43.5 million of adult family caregivers care for someone 50+ years of age
and 14.9 million care for someone who has Alzheimer's disease or other
dementia
• Many caregivers of older people are themselves growing frail. Of those
caring for someone aged 65+, the average age is 63 years with one third
of these caregivers in fair to poor health
• An estimated 66% of family caregivers are female. One-third (34%)
take care of two or more people, and the average age of a female
caregiver is 48
• 70% of working caregivers suffer work-related difficulties due to their
dual caregiving roles
Source: Caregiving in the U.S.: AARP and National Alliance for CareGiving, 2012
11. Staying Home: the #1 Choice - - How Can a
Better Family Outcome be Facilitated?
• Planning ahead for staying at home can go a long way to helping
relatives age in place, and stay OUT of a facility
• Support services typically necessary for the frail and elderly to
continue living in their own home:
– Help with household tasks, like cleaning and meal preparation
– Help with personal tasks, like bathing and dressing
– Services provided by a visiting nurse or home health aide
– Special equipment, like a walker, wheelchair or respirator
– Home modifications to enhance safety at home
• Planning and financing for required resources can free up family
members to continue with their lives, while overseeing a loved
one’s care, and spending quality time with them
12. How Much Does it Cost to Receive Long
Term Care Services?
- And -
How is It Paid For?
13. The 2012 Cost of Care “Outside NYC”
• Semi-private room in a nursing home was as high as $136,875/yr
• Projected to be $363,170 by 2032
• Private 1 bdrm in an ALF was ~$70,200/yr
• Projected to be $186,261 by 2032
• Full-time Home Health Care Aide cost ~$53,539/year
• Projected to increase to $142,055 by 2032
• The average nursing home stay is 3 years
• Home care needs continue longer
Source: Genworth’s Cost of Care Study, 2012
14. How Are LTC Services Paid For?
• Private/Company Health and Disability Insurance?
• Skilled acute care only
• Will not pay for long term custodial care
15. How Are LTC Services Paid For?
• Medicare?
• Medicare and related insurances (MediGap, Medicare
Advantage) do NOT cover long term custodial care, only medical
care related to an illness or injury:
• Acute Care Services
• Rehabilitative Care- limited amount, either at home or in a nursing
home.
• Limited Home Care (HC) Coverage
• Medicare WILL cover a Skilled Care/Skilled Nursing Facility,
provided:
• Three day prior hospital stay required
• Enter facility within 30 days
• Full costs covered for 20 days
• Minimal costs covered for next 80 days
• No coverage after 100 days in that benefit period
8. The Centers for Medicare & Medicaid Services and U.S. Department of Health and Human Services. “The 2005 Guide to
Health Insurance for People with Medicare.”
16. How Are LTC Services Paid
For?
• Medicaid?*
• Must “spend down” assets to NY State’s required 2012 level of
$14,250 for an individual over 65
• Medicaid provides limited in-home care
• Choice of facilities is limited
*Eligibility requirements apply and vary by state
17. How Are LTC Services Paid
For?
• Personal Assets/Family?
• One long term illness may jeopardize an accumulated retirement
savings/nest egg, and leave a partner/spouse without resources
• Most family members are struggling to manage their own
finances, and cannot afford to support a loved one’s care
19. Have “The Talk”
• Every day, thousands of Americans over age 40 experience a significant
change in their health status. Even changes that, due to advances in health
care, are no longer life threatening... can be life altering
• 75% of people have not had a conversation with their loved ones about
long term care planning in the last 12 months
• Talk to your parents. No doubt you hope your parents have made plans
that consider a potential health or financial crises, have finalized their will
and power(s) of attorney, and made plans for their long term care.
Unfortunately, the odds are good that they have not.
• Talk to your spouse and other close family members. Even couples and
family members that have shared “everything” may find they don't always
know each other’s preferences - or may find those preferences have
changed over time. Talking about health, finances, and long term care will
better equip you to make informed decisions together; decisions that will
reflect both your individual and collective wishes.
Source: Genworth 2011 Financial Reality Check
20. Make a Plan: Important At Any Age
• Complete your financial/health/estate plans and documents, and
share them with family:
• Advance Directive (Durable Power of Attorney for healthcare, Living Will,
DNR)
• Will and Trust to pass on assets
• Durable Power of Attorney for financial affairs
• Funeral and Burial plans
• A serious accident or debilitating illness can happen at age. That is
why it’s wise to make a plan when you are young - and healthy.
• 37% of those that needed LTC in 2000 were under the age of 65¹
• The probability of losses in physical functioning increases with age –
dramatically so for the population aged 65 and older.²
¹Kaiser Family Foundation, “Medicaid and Long Term Care”
²Congressional Budget Office, “Financing Long-Term Care for the Elderly”
21. A Sound Plan for Your Future
May Include Long-Term Care
Insurance The statistical risk of needing long term care is greater than the risk of a
house fire, and more likely than an auto accident.*
People have many types of insurance to help protect their assets:
– Automobile insurance protect their car
– Homeowners insurance protects their home
– Life insurance protects their family
– Disability insurance protects their income
Most people would never consider going without home and car insurance --
but haven't planned to protect their finances and family in case of a critical
or chronic illness
Source: www.longtermcare.gov/LTC
22. Should You Consider LTC
Insurance?
Some considerations -- do you need to or want to :
Protect your retirement and other family savings
Rely on additional financial support for future care needs
Preserve your independence
Free your family/other care-givers to spend quality time with you
Retain control over your choices
Obtain care planning expertise, advice and resources when you need
care₁
₁With traditional LTC policies only
23. Is LTC Insurance Something You Can
Afford?
• Premiums are based on a variety of factors, including your age and
health when you buy a policy and the level of coverage, benefits and
options you select for your policy
• If you buy a policy with a large daily benefit, a longer maximum
benefit period, or a home health care benefit, it will cost you more
• Inflation protection and non-forfeiture benefits (return of premium,
reduced paid up policies, etc.) can increase premiums for long-term
care substantially
• Inflation protection can add 25% to 40% to the premium.
• Non-forfeiture benefits can add 10% to 100% to the premium
24. Is LTC Insurance Something You Can
Afford?
The older you are when you buy long-term care
insurance, the higher your premiums will be, as it’s
more likely you will need long-term care services
If you buy at a younger age, your premiums will be lower,
but you will pay premiums for a longer period of time
Recent studies have found the average age of purchasers
was age 65 in the individual market
26. Additional LTC Funding Options
Life Insurance and Annuities with Chronic Illness
coverage
Health Care Savings accounts
27. RESOURCES YOU SHOULD USE
The U.S. Dept. of Health and Human Services’
National Clearinghouse for Long Term Care
Information
www.longtermcare.gov/LTC
National Institutes of Health
http://nihseniorhealth.gov/longtermcare
New York State Dept. of Health
http://www.health.ny.gov/facilities/long_term_care/
Family CareGiver Alliance, National Center on
CareGiving
http://www.caregiver.org
Editor's Notes
On a global scale, governments, academics and citizens are seeing demographic trends that will undoubtably have significant impact inmost of the world over the next decades.
Long Term Care is viewed as an important financial planning need . It is become more and more apparent in the American consciousness . You’ve no doubt read about this topic in the news more and more lately, and most boomers know of someone in a long-term care situation. Thanks to medical advances and more healthy living, Americans are living longer than ever. The
Long term care is the type of care you or someone in your family may need if you no longer can take care of yourself, either due to a physical or cognitive impairment. Most people equate long term care with nursing homes. But care often begins in the home and may progress to adult day care, assisted living, or nursing home care. Eligibility for long-term care is established when your doctor develops a plan of care that states that you require assistance with 2 of the 6* ADL’s There are many circumstances that lead to a need for LTC, including a stroke, Alzheimer’s disease, cancer or a just gradual deterioration due to normal aging. As an example, if you have severe arthritis and are unable to dress or bathe without assistance, you could be eligible for benefits.
Besides the 2/6 Activities of Daily Living requirement, there is another way that you could qualify for coverage-- by having a cognitive impairment A cognitive impairment is a condition that has you requiring substantial supervision to protect Yourself or others from threats to health and safety . For example, a person with Alzheimer’s may be able to perform all activities of daily living but potentially be a harm to themselves or others if they are not supervised.
If you are like most people , when you think about long term care, you tend to think in terms of nursing homes. These faciltiies are certainly one place to get care, but often Long term care is a journey, where care begins at home. The care may then progress to assisted living facilities or adult day care or even a nursing home. A good advisor can help you put together a plan with the flexibility and options that suits your needs.
Most people say that a nursing home is the last place they want to go. And, for some, getting care n the comfort of their own home is a viable option. This may include: Help with household tasks, like cleaning and meal preparation Help with personal tasks, like bathing and dressing Services provided by a visiting nurse or home health aide Special equipment, like a walker, wheelchair or respirator Home modifications to enhance your ability to remain safely at home With the ability to pay for this type of assistance, many people can stay home longer.
Most people say that a nursing home is the last place they want to go. And, for some, getting care n the comfort of their own home is a viable option. This may include: Help with household tasks, like cleaning and meal preparation Help with personal tasks, like bathing and dressing Services provided by a visiting nurse or home health aide Special equipment, like a walker, wheelchair or respirator Home modifications to enhance your ability to remain safely at home With the ability to pay for this type of assistance, many people can stay home longer.
We all hope that we never have to face the need for long-term care. But if we did, are we prepared for the financial impact it will have? Could You Afford almost $600,000 for Nursing Home Care in 9 years?
While you may think you are already covered – long term care is not typically covered by health or long term disability insurance. As for government programs – Medicare only pays for short periods of care a related to illness after hospitalization
Medicare is similar to private and company health plans, short term acute care. Medicare and related health insurance generally pays only for skilled care in a Skilled Nursing Facility. This is the problem; no conventional health insurance plan or Medicare pays for custodial care. Let’s look at an example: You fall and break your hip, spend a few days in the hospital, then require additional care in a nursing home. While in the nursing home, you have physical therapy daily to restore you to prior health. What would Medicare pay? You first need to meet the 3 day prior hospital stay and enter the facility within 30 days of leaving the hospital. If you meet these requirements, then Medicare will cover the first 20 days in full, all but the annual deductible for the next 80 day. If care continues beyond 100 days there is no coverage in that benefit period.
In order to qualify for Medicaid, you would need to “spend down” your assets and income. Medicaid is a federal welfare program administered by each state. Medicaid will require that you use your assets and income to pay nursing home costs, down to state required levels. Once you have “spent down” your assets, the state will step in. And even then, Medicaid doesn’t cover most care at home - where many people would prefer to be when receiving care (Obtain your individual state limits - but the Federal ceiling on the total allowed assets for a couple in 2005 is $95,100 and a minimum of $19,020 for community spouse. To spend down to that level, could mean quite a change in lifestyle for the at-home spouse.
More & more people are turning to private LTCI to cover the high costs. If these things are important, LTCI may help you: If these items are important to you…if so LTCI may help you: (review above)
If something were to happen when you were young you would want ample coverage because most of us don’t accumulate savings until we’re older. If something were to happen later in life, you’d want to be sure you could remain independent, protect your retirement assets and maintain your family’s well being. Long term care is not just a need for those 65 and older. 40% of people receiving long-term care services are adults between the ages of 18 and 64. One of the challenges in planning for long-term care is accepting that you or a family member may need care in the future. Overcoming this hurdle is critical to the planning process. Sixty percent of people who may need long term care are 65 or older. The probability of losses in physical functioning increases with age – dramatically so for the population aged 65 and older.
Long-term care insurance may be an important part of your financial plan for the future. You already have many types of insurance to protect your assets: Automobile insurance to protect your car Homeowners insurance to protect your home Life insurance to protect your family Disability insurance to protect your salary Why not protect your retirement assets with long-term care insurance?
More & more people are turning to private LTCI to cover the high costs. If these things are important, LTCI may help you: If these items are important to you…if so LTCI may help you: (review above)
If something were to happen when you were young you would want ample coverage because most of us don’t accumulate savings until we’re older. If something were to happen later in life, you’d want to be sure you could remain independent, protect your retirement assets and maintain your family’s well being. Long term care is not just a need for those 65 and older. 40% of people receiving long-term care services are adults between the ages of 18 and 64. One of the challenges in planning for long-term care is accepting that you or a family member may need care in the future. Overcoming this hurdle is critical to the planning process. Sixty percent of people who may need long term care are 65 or older. The probability of losses in physical functioning increases with age – dramatically so for the population aged 65 and older.
If something were to happen when you were young you would want ample coverage because most of us don’t accumulate savings until we’re older. If something were to happen later in life, you’d want to be sure you could remain independent, protect your retirement assets and maintain your family’s well being. Long term care is not just a need for those 65 and older. 40% of people receiving long-term care services are adults between the ages of 18 and 64. One of the challenges in planning for long-term care is accepting that you or a family member may need care in the future. Overcoming this hurdle is critical to the planning process. Sixty percent of people who may need long term care are 65 or older. The probability of losses in physical functioning increases with age – dramatically so for the population aged 65 and older.
Financial support is not the only type of support you need when you are faced with a long term illness or injury. You’ll want a resource you can talk to about care in general, a care coordinator that can help design a plan of care that meets your needs and makes the most of your benefits.
Financial support is not the only type of support you need when you are faced with a long term illness or injury. You’ll want a resource you can talk to about care in general, a care coordinator that can help design a plan of care that meets your needs and makes the most of your benefits.