I highly recommend the film "The Savages". Released in December, 2007 and starring Laura Linney, Philip Seymour-Hoffman, and Philip Bosco, this is an unsentimental, realistic examination of the issues facing people with dementia and their families.
Linney and Seymour-Hoffman do an exceptional job of portraying the journey of two adult children suddenly confronted with the reality of their estranged father's dementia and the immediate necessity of finding him a nursing home.
Laura Linney is up for an Academy Award. Look for it in your local theatres.
Monday, January 28, 2008
Routine Testing for Memory Loss is Debated
--The Seattle Times
A debate is emerging nationally over whether older adults should be tested routinely for memory loss, as most are tested for high blood pressure and cholesterol. The issue is fueled by widespread concern among healthcare professionals, the federal government and others that Alzheimer's could become epidemic if a cure is not found and a growing belief by some that early detection may be the best hope of halting dementia.
Among the questions being raised: If such tests were routine, at what age should they be given, and where? In a doctor's office? Or is a shopping mall OK? Who gets to know the results? "People have surprisingly strong feelings about this," said Dr. Soo Borson, director of the Memory Disorders Clinic at the University of Washington.
The answers aren't clear cut. While early diagnosis can help patients and families prepare, cognitive tests, a series of oral and written questions typically done in a doctor's office, can be affected by age and education as well as interpretation.
There are also concerns that early diagnosis could lead to depression, anxiety or stigma, and questions have been raised about the implications for getting a driver's license or long-term-care insurance.
A debate is emerging nationally over whether older adults should be tested routinely for memory loss, as most are tested for high blood pressure and cholesterol. The issue is fueled by widespread concern among healthcare professionals, the federal government and others that Alzheimer's could become epidemic if a cure is not found and a growing belief by some that early detection may be the best hope of halting dementia.
Among the questions being raised: If such tests were routine, at what age should they be given, and where? In a doctor's office? Or is a shopping mall OK? Who gets to know the results? "People have surprisingly strong feelings about this," said Dr. Soo Borson, director of the Memory Disorders Clinic at the University of Washington.
The answers aren't clear cut. While early diagnosis can help patients and families prepare, cognitive tests, a series of oral and written questions typically done in a doctor's office, can be affected by age and education as well as interpretation.
There are also concerns that early diagnosis could lead to depression, anxiety or stigma, and questions have been raised about the implications for getting a driver's license or long-term-care insurance.
Friday, January 25, 2008
Re-Evaluate Your Insurance Coverage Once A Year
We should all make time, sit down and re-evaluate our insurance coverage. Having too much coverage is sometimes as dangerous as having too little.
Schedule a meeting with your financial planner, evaluate all of your insurance coverage needs and policies and determine what may need changing, amending or eliminating.
Policies you purchased in your twenties, or when your children were young, may not be the best financial choice for your family today. T
he policy you bought 20 years ago may be enough or you may need some zeroes tacked onto the death benefit now that you have accumulated personal wealth.
"If you are over 50, you should think about the Long-Term Care option. In addition, you can benefit from additional discounts available with a Preferred health rating, says Dane Petchul, Long Term Care Planning Specialist.
For Long-Term Care planning, it is important to get a free consultation from a Long-Term Care Specialist.
LongTermCareInsurancePros are specialists and offer free, no obligation consultations on Long-Term Care planning.
For immediate answers to any of your questions, call 949-854-3001 or 877-GO-4-LTCi (877-464-5824)
Schedule a meeting with your financial planner, evaluate all of your insurance coverage needs and policies and determine what may need changing, amending or eliminating.
Policies you purchased in your twenties, or when your children were young, may not be the best financial choice for your family today. T
he policy you bought 20 years ago may be enough or you may need some zeroes tacked onto the death benefit now that you have accumulated personal wealth.
"If you are over 50, you should think about the Long-Term Care option. In addition, you can benefit from additional discounts available with a Preferred health rating, says Dane Petchul, Long Term Care Planning Specialist.
For Long-Term Care planning, it is important to get a free consultation from a Long-Term Care Specialist.
LongTermCareInsurancePros are specialists and offer free, no obligation consultations on Long-Term Care planning.
For immediate answers to any of your questions, call 949-854-3001 or 877-GO-4-LTCi (877-464-5824)
Monday, January 14, 2008
Learn the Ins and Outs of Long-Term Care Insurance
Long-term care can be expensive -- so don't get caught without the proper insurance.
Most older Americans have no insurance to cover the incredibly expensive long-term care often necessary when chronic illness or disability strikes late in life. Nursing-home costs alone can run $70,000 to $100,000 a year. At the most expensive centers the bill can approach twice that much.
Long-term care usually involves nonmedical help with such daily tasks as bathing and dressing. Health, life and disability insurance won't pay for that. Medicare will cover very little. But long-term-care insurance will.
People who don't have coverage have to pay out-of-pocket until they run out of money and become eligible for Medicaid. At that point, you're basically letting the government pick a nursing home for you.Annual premiums can range from $1,000 to $6,000, depending on the level of care you insure and your age when you buy the policy. Premiums start out at relatively modest levels for those in their 50s and then rise steeply, making the insurance costly or even prohibitive. Buying at a younger age locks in the lower rate.
How the policies pay -- or don't pay
Generally, benefits become available once you meet three of the following conditions:
• You are unable to perform two of six basic activities of daily living (such as bathing or dressing) or you show signs of severe cognitive impairment, such as those associated with dementia.
• Your doctor or other health professional certifies that your condition is expected to last at least 90 days.
• You pay for long-term-care services for the number of days in your waiting period.
Then, depending on the beneficiary's condition and terms of the policy, care proceeds through several stages.Skilled care. This is medically necessary care provided by licensed professionals, such as nurses and therapists, working under the supervision of a doctor.
Intermediate care. This also requires supervision by a physician and skilled nursing care, but it is needed only intermittently.
Custodial care. This covers nursing home services. Benefits cover mainly room and board plus payments for assistance with the activities of daily living.
Home health care. Depending on the policy, benefits for home health care may range from homemaking and chore services to occupational therapy and laboratory services.
How to shop for a policy
Most people who have long-term-care coverage wish they had bought more, according to a study by LifePlans. Consider at least a three-year benefit period, which would cover the average nursing home stay. Also, a short "elimination period" (basically a deductible -- see below), even though it will increase premiums, could save you out-of-pocket costs in the long run. And look for a policy that covers care in as many situations as possible: at home, in an assisted living facility, in a nursing home.
Pick the right daily benefit amount. The first decision you need to make when buying long-term-care insurance is how big a daily benefit you need. But if you rely solely on the national average, you could fall short of the cost of care in your city -- or you could end up buying too large a benefit and skimping on other parts of your coverage. To figure out how much coverage you need, check out prices for facilities in your area you wouldn't mind using. Then figure out how much of the bill you could shoulder yourself.
Find out how the policy elimination period (deductible) is satisfied. A policy with 90-day elimination period, for example, means you're willing to pay out-of-pocket for the first 90 days of care. You can save money by finding a policy that will credit you for an entire week if you pay for care at least one day a week. Most people should consider a 60-day or 90-day waiting period, which keeps premiums manageable but limits out-of-pocket costs.
Compare how inflation protection works. Most policies offer inflation protection, so your daily maximum benefit grows but your premium doesn't. But there are many ways inflation protection can differ. The best inflation-protection coverage automatically increases your benefit amount by 5% compounded annually, keeping pace with the rising cost of care. Such policies are pricey, often doubling the cost of coverage, but your premiums will remain the same even as the benefit amount increases.
Policies with future-purchase options, which allow you to buy additional coverage over time without medical screening, can start out costing half as much as policies that automatically increase your benefit amount. But such policies soon wind up being much more expensive. That's because the increased benefits are generally priced at your age when you buy the extra coverage -- and not how old you were when you first bought the policy.
Does the policy exclude any medical problems? Long-term-care policies carry exclusions for preexisting conditions, which usually won't be covered for six months or a year after a policy is in force. Pass up any policy that excludes "mental disorders" unless the seller satisfies you that organically based mental disease is covered.
Stick with major insurance companies. Many big companies have never increased premiums for current policyholders. It's a good idea to stick with such companies, which know the business and have been stable in the past-especially because it may be decades before you need the policy and it's tough to switch companies when you're older and have developed medical problems. John Hancock and MetLife are among the companies that have not raised rates for their own policyholders.
Simplify Your Long-Term Care Planning with a Long-Term Care Specialist
To answer any of your questions, call 949-854-3001 and ask for Dane
Most older Americans have no insurance to cover the incredibly expensive long-term care often necessary when chronic illness or disability strikes late in life. Nursing-home costs alone can run $70,000 to $100,000 a year. At the most expensive centers the bill can approach twice that much.
Long-term care usually involves nonmedical help with such daily tasks as bathing and dressing. Health, life and disability insurance won't pay for that. Medicare will cover very little. But long-term-care insurance will.
People who don't have coverage have to pay out-of-pocket until they run out of money and become eligible for Medicaid. At that point, you're basically letting the government pick a nursing home for you.Annual premiums can range from $1,000 to $6,000, depending on the level of care you insure and your age when you buy the policy. Premiums start out at relatively modest levels for those in their 50s and then rise steeply, making the insurance costly or even prohibitive. Buying at a younger age locks in the lower rate.
How the policies pay -- or don't pay
Generally, benefits become available once you meet three of the following conditions:
• You are unable to perform two of six basic activities of daily living (such as bathing or dressing) or you show signs of severe cognitive impairment, such as those associated with dementia.
• Your doctor or other health professional certifies that your condition is expected to last at least 90 days.
• You pay for long-term-care services for the number of days in your waiting period.
Then, depending on the beneficiary's condition and terms of the policy, care proceeds through several stages.Skilled care. This is medically necessary care provided by licensed professionals, such as nurses and therapists, working under the supervision of a doctor.
Intermediate care. This also requires supervision by a physician and skilled nursing care, but it is needed only intermittently.
Custodial care. This covers nursing home services. Benefits cover mainly room and board plus payments for assistance with the activities of daily living.
Home health care. Depending on the policy, benefits for home health care may range from homemaking and chore services to occupational therapy and laboratory services.
How to shop for a policy
Most people who have long-term-care coverage wish they had bought more, according to a study by LifePlans. Consider at least a three-year benefit period, which would cover the average nursing home stay. Also, a short "elimination period" (basically a deductible -- see below), even though it will increase premiums, could save you out-of-pocket costs in the long run. And look for a policy that covers care in as many situations as possible: at home, in an assisted living facility, in a nursing home.
Pick the right daily benefit amount. The first decision you need to make when buying long-term-care insurance is how big a daily benefit you need. But if you rely solely on the national average, you could fall short of the cost of care in your city -- or you could end up buying too large a benefit and skimping on other parts of your coverage. To figure out how much coverage you need, check out prices for facilities in your area you wouldn't mind using. Then figure out how much of the bill you could shoulder yourself.
Find out how the policy elimination period (deductible) is satisfied. A policy with 90-day elimination period, for example, means you're willing to pay out-of-pocket for the first 90 days of care. You can save money by finding a policy that will credit you for an entire week if you pay for care at least one day a week. Most people should consider a 60-day or 90-day waiting period, which keeps premiums manageable but limits out-of-pocket costs.
Compare how inflation protection works. Most policies offer inflation protection, so your daily maximum benefit grows but your premium doesn't. But there are many ways inflation protection can differ. The best inflation-protection coverage automatically increases your benefit amount by 5% compounded annually, keeping pace with the rising cost of care. Such policies are pricey, often doubling the cost of coverage, but your premiums will remain the same even as the benefit amount increases.
Policies with future-purchase options, which allow you to buy additional coverage over time without medical screening, can start out costing half as much as policies that automatically increase your benefit amount. But such policies soon wind up being much more expensive. That's because the increased benefits are generally priced at your age when you buy the extra coverage -- and not how old you were when you first bought the policy.
Does the policy exclude any medical problems? Long-term-care policies carry exclusions for preexisting conditions, which usually won't be covered for six months or a year after a policy is in force. Pass up any policy that excludes "mental disorders" unless the seller satisfies you that organically based mental disease is covered.
Stick with major insurance companies. Many big companies have never increased premiums for current policyholders. It's a good idea to stick with such companies, which know the business and have been stable in the past-especially because it may be decades before you need the policy and it's tough to switch companies when you're older and have developed medical problems. John Hancock and MetLife are among the companies that have not raised rates for their own policyholders.
Simplify Your Long-Term Care Planning with a Long-Term Care Specialist
To answer any of your questions, call 949-854-3001 and ask for Dane
Monday, January 7, 2008
10 Things You Should Know About Long-Term Care
Question 1:
Which of the following best defines long-term care services:
A. rehabilitative services in a nursing home
B. help with personal care, such as eating, bathing and dressing
C. hospice care
Question 2:
What are the odds that a person 65 or older will need long-term care?
A. 40%
B. 60%
C. 80%
Question 3:
What is the average cost of one year in a nursing home? (Hint: It's expensive.)
A. Less than $25,000
B. Between $25,000 and $75,000
C. Greater than $75,000
Question 4:
What is the average cost of one year in an assisted-living facility, where the services increase as the resident grows older or becomes more in need of care ?
A. Less than $30,000
B. Between $30,000 and $60,000
C. Greater than $60,000
Question 5:
Medicare won't pay for long-term-care services.
A. True
B. False
Question 6:
Anyone who needs nursing-home care can qualify for Medicaid to pay their bills.
A. True
B. False
Question 7:
How long can Medicaid "look back" over your financial records to determine if you gave away money that would disqualify you from receiving government-financed long-term care for a period of time? (Hint: It's not as long as you might think.)
A. 1 Year
B. 3 Years
C. 5 Years
D. 10 Years
Question 9:
People buy long-term-care insurance to:
A. pay for long-term-care expenses
B. let them choose where they receive care
C. preserve a legacy for heirs
D. all of the above
Question 9:
Long-term-care insurance premiums are based on:
A. your age at time of purchase
B. the length of coverage and the number of days before coverage begins
C. the amount of the daily benefit
D. inflation protection
E. all of the above
Question 10:
You can trim the cost of long-term-care insurance by:
A. shortening the benefit period
B. lengthening the elimination period before benefits begin
C. reducing the amount of the daily benefit
D. all of the above
Answers:
1. B
2.B
3.C
4.B
5.True
6. False
7.C
8.D
9.D
10.D
Which of the following best defines long-term care services:
A. rehabilitative services in a nursing home
B. help with personal care, such as eating, bathing and dressing
C. hospice care
Question 2:
What are the odds that a person 65 or older will need long-term care?
A. 40%
B. 60%
C. 80%
Question 3:
What is the average cost of one year in a nursing home? (Hint: It's expensive.)
A. Less than $25,000
B. Between $25,000 and $75,000
C. Greater than $75,000
Question 4:
What is the average cost of one year in an assisted-living facility, where the services increase as the resident grows older or becomes more in need of care ?
A. Less than $30,000
B. Between $30,000 and $60,000
C. Greater than $60,000
Question 5:
Medicare won't pay for long-term-care services.
A. True
B. False
Question 6:
Anyone who needs nursing-home care can qualify for Medicaid to pay their bills.
A. True
B. False
Question 7:
How long can Medicaid "look back" over your financial records to determine if you gave away money that would disqualify you from receiving government-financed long-term care for a period of time? (Hint: It's not as long as you might think.)
A. 1 Year
B. 3 Years
C. 5 Years
D. 10 Years
Question 9:
People buy long-term-care insurance to:
A. pay for long-term-care expenses
B. let them choose where they receive care
C. preserve a legacy for heirs
D. all of the above
Question 9:
Long-term-care insurance premiums are based on:
A. your age at time of purchase
B. the length of coverage and the number of days before coverage begins
C. the amount of the daily benefit
D. inflation protection
E. all of the above
Question 10:
You can trim the cost of long-term-care insurance by:
A. shortening the benefit period
B. lengthening the elimination period before benefits begin
C. reducing the amount of the daily benefit
D. all of the above
Answers:
1. B
2.B
3.C
4.B
5.True
6. False
7.C
8.D
9.D
10.D
Simplify Your Long Term Care Planning with
Long Term Care Insurance Pros
Long Term Care Insurance Pros
Got Questions? Call 949-854-3001 or 1-877-GO-4-LCTi (464-5824)
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