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Archives for December 2019

The Latest Long Term Care Statistics – 2019 Update

December 23, 2019 by Honey Leveen Leave a Comment

Christine Benz updates her “Must-Know Statistics About Long-Term Care” report every year and the newest LTC information is now available.  She is a Personal Finance Director at Morningstar and these annual reports are packed with invaluable long term care statistics. We’re so grateful to her for this!

No stranger to the value of long term care, Benz openly shares about her obsession (her words!). Both of her parents required it later in their lives. Even though her parents had the funds to pay for their LTC, “… it was still a terribly hard process for them, my siblings, and me.”

Ms. Benz’s statistics cover a broad spectrum. If you click on the link to the report, you’ll find that each statistic is linked to the underlying research.

Some Interesting Long Term Care Statistics

How long will we actually use our long term care coverage?

  • Women will need more LTC than men.
  • 48% of us will likely need LTC for less than a year.
  • 21% of us will likely need LTC for 2-5 years.
  • 13% of will will need LTC for more than 5 years.

She shows us who and at what age people will need LTC, and how long they’ll need LTC coverage. Women will need more LTC than men. Although 48% of us will need LTC for less than a year, 21% of us will need LTC for 2 – 5 years and 13% of us will need LTC for more than five years.

The Dementia Factor

  • 38% of Americans over the age of 85 have Alzheimer’s disease.
  • 64% of those afflicted are women.
  • From 2000 – 2017, Alzheimer’s-related deaths rose by 145% (deaths from heart disease decreased by 9% over the same period).

The Costs of Long Term Care

  • LTC costs rose dramatically between 2000 and 2015. They’re now more than $208 billion/year.
  • 51% of LTC costs were paid by Medicaid
  • The estimated lifetime cost of caring for a dementia patient is $350,174.
  • The median annual cost of living in a nursing home is $102,200 (depending on geographic location and facility amenities offered).

Statistics on the Unpaid Caregiver

  • 34.2 million people provided unpaid care to someone 50 years or older during the past 12 months.
  • Over 75% of these unpaid caregivers are women.
  • The average age of these unpaid caregivers is 49.2, while 34% are 65 or older.
  • 70% of caregivers experience work-related challenges due to their caregiving responsibilities.
  • If they are able to maintain their paying jobs, they report spending an additional 34.7 hours each week providing unpaid care.

Maintaining Your Independence

In light of the ever-increasing costs of long term care along with the increasing age of the U.S. population, the ability to afford effective medical care is more important than ever. Instead of relying on family or friends, consider the possibility of hiring trained professionals for your care. You can move into a safe, comfortable environment or receive regular visits in your own home.

Click here to receive a free, no-obligation quote for your own LTCi coverage. It’s a great time to learn what options are available to you in the future with just a little planning today.

Filed Under: Uncategorized Tagged With: Alzheimers Disease, Christine Benz, familial caregivers, LTC Claims, LTC costs, LTC Insurance, LTC Statistics, Medicaid, Morningstar, unpaid caregivers

Preventing Dementia? Walk Away From Those Apps

December 3, 2019 by Honey Leveen Leave a Comment

There’s been a lot written about the value of “brain games” to help reduce the risks of dementia and other loss of cognitive sharpness. In today’s technology-centric world, we have spent almost $2 billion on various brain training apps in 2018. This is four times the amount spent 2012, so they are really gaining popularity.

But are they working?

The most recent research shows mixed results. Sarah Lenz Lock is executive director of the Global Council on Brain Health. A respected expert in her field, Lock cautions, “Cognitive training has shown some promise, but people shouldn’t expect it to be a magic bullet.”

In fact, studies are now recommending a diversified approach combining brain training, healthy diet and exercise.

Reducing Risks of Dementia – A Walk In the Park

According to the New York Times, the World Health Organization (WHO) released new data on reducing risks of dementia. They found that these brain training apps do not show significant, consistent or long term improvement over time. Their recommendation is to focus on moving your body for 150 minutes each week. That’s about 30 minutes a day, taking off for weekends. This is completely manageable, isn’t it?

They emphasize that this activity must begin before signs of cognitive decline appear. Remember: this is about prevention, not cure.

The mind-body connection isn’t new and the evidence continues to build. Research finds that physical activity promotes growth and maintenance of neurons in seniors. And the benefits are much higher for those who enjoy cardio-based exercise instead of simple stretching.

So step to it! And enjoy the benefits of your activity for years to come.

Before you step away from your computer, consider another useful tool for your long term planning. Of course, I’m talking about long term care insurance (LTCi). Affordable premiums today can create a world of difference in the level of care you receive in the future. Click here to receive a free, no-obligation quote for your own LTCi coverage.

Filed Under: Age related cognitive impairment, Helpful Information About LTC, Information About LTC Tagged With: age related cognitive decline, Aging, Alzheimers Disease, cognitive decline, Cognitive Impairment, dementia

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Fax: 281-829-7177

Email: honey@honeyleveen.com

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Honey Leveen, LUTCF, CLTC, LTCP
“The Queen, by Self-Proclamation, of Long-Term Care Insurance (LTCi)”
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Phone: 713-988-4671
Fax: 281-829-7177

Email: honey@honeyleveen.com

Email: honey@honeyleveen.com

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