Archives for September 2011

Dear Abby Reader Describes Situation Without Long-term Care Insurance

September 16, 2011 by Honey Leave a Comment

Quoted directly from today’s (September 12, 2011) Dear Abby column:

“Dear Abby:

My longtime friend Jim and a stroke several years ago. His wife was struggling to keep him at home while working, taking care of the house, cooking and doing other endless chores. She found it difficult even to get out of the house for a haircut. She confided to me the hurt she felt when friends never followed through on their general offers of assistance.

Our discussion led to the formation of the FOJ (Friends of Jim’s) Club. Everyone in our “elite” group commits to spending two hours a month with Jim. The time slots we fill are recorded in our FOJ calendar. This time provides a needed respite for Jim’s wife and an opportunity to Jim to interact with others and get out of the house. Because the time commitment is for a defined— but not overly long—period of time, people are more willing and able to make a commitment they know they can keep.

Friend of Jim’s in Champaign, IL”

Honey’s comments: LTCQueen readers who do NOT own LTCi (long-term care insurance), please do everything within your power to imagine how different the scenario above would be if Jim had purchased LTCi.

My guess is that although Jim’s wife is getting some respite from friends, it is still not enough respite to spare her the additional mental, physical and financial stress being his full-time caregiver causes.

If Jim owned LTCi, chances are his policy would pay for home health care and he’d be on collecting from it right now. His policy would also be in “waiver of premium” (requiring no premium payments). I have no way of knowing how much home health care his LTCi would pay for, but chances are that whatever additional, paid home health care it paid for would go far to alleviate his wife’s stress and the resentment this reader describes.

LTCi ownership is all about having dignity, options, choices for not only the person needing care, but just as importantly, for the loved ones surrounding them.

Days of Decent, Accessible Govenment-Paid LTC Waning

September 14, 2011 by Honey Leave a Comment

An article in the September 10, 2011 edition of the Oakland Tribune by Sandra J. Cohen and Roger Cormier reports that the state of California plans to transition Medi-Cal enrolled participants in adult day health care (ADHC) to a new model before December 1, 2011, which is the date the state has decided to cancel current ADHC Medi-Cal funding.

Most of the state’s 37,000 ADHC enrollees participate in Medi-Cal.

ADHC is a long standing, comprehensive, efficient program that provides medical and social support services and meals in congregate settings for frail elders with multiple chronic conditions, developmental disabilities, or severe, persistent mental illness.

The anticipated changes have already resulted in fallout. Several ADHC programs have already closed because participants and volunteers backed out.

Professionals in the field anticipate that the changes will result in increased nursing home placements and expenses.

This disruptive shift is no doubt due to California’s severe budget shortfalls. The article states that people who privately pay for care or use long-term care insurance (LTCi) to pay for ADHC will not be affected by the cutbacks.

Hopefully, stories like this will encourage more people to plan for long-term care while they are able to do so. The days of decent government-paid long-term care appear to be drawing to an unpleasant end.

Accurate, Poignant Endorsement of LTC Planning

September 14, 2011 by Honey Leave a Comment

Dayna Steele, my friend and client, author, entrepreneur and well known public figure, has written beautifully and accurately about the need for responsible long-term care (LTC) planning. Her just published blog poignantly illustrates the need for LTC insurance by describing the experiences of her friends. I hope you will take time to read her short piece.

Medcaid Loopholes Easily Exploited by Middle Class

September 11, 2011 by Honey Leave a Comment

Here’s a press release by Dale Krause, an advisor who appears to specialize in Medicaid planning. I have recently written about my qualms with Medicaid planning, which I consider “gaming the system.” By using glaring loopholes in current Medicaid laws to re-position, shield and preserve often extensive wealth, advisors like Mr. Krause are often successful at enabling their clients, people of means, to qualify for Medicaid.

Medicaid is a program that was set up to assist the indigent and handicapped: people with little or no wealth. In addition, Medicaid-paid LTC is typically inferior to non-Medicaid-paid LTC. With our country’s grave financial crisis and an oncoming Silver Tsunami of Baby Boomers who’ll need LTC, I predict Medicaid-paid LTC will get worse, not better. We the tax payers fund Medicaid and ultimately wind up paying for the schemes Mr. Krause & others like him derive their income from.

Here is the comment I emailed the author of the press release:

“Hi Dale

Sounds like you are involved with long-term care on an abstract basis and haven’t really thought through the reality of such things as the dignity and options your clients will want. I hope you will take a few moments to read the linked article I wrote on the undeserved glorification Partnership LTCi often gets. I also think it would be wise for you to create a Plan B for when the government inevitably eventually closes the loopholes your strategies depend upon.”

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Archives for September 2011

Dear Abby Reader Describes Situation Without Long-term Care Insurance

Days of Decent, Accessible Govenment-Paid LTC Waning

Accurate, Poignant Endorsement of LTC Planning

Medcaid Loopholes Easily Exploited by Middle Class

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