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Aging In Uncharted Territory

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You probably don’t need me to tell you: We are living in a brand new era. And there’s no road map, no experienced sages who have navigated times like this. Even on the topic aging, we’re headed into uncharted territory.

According to the U.S. Census Bureau, the time is rapidly approaching when people over 65 will outnumber those under 18. This shift has never happened in the history of the United States. By the year 2030, an astounding 1 in 5 adults will be of retirement age.

The Key to Long Life: Long Life

It sounds trite, but it’s true. The numbers show that if you live to age 65, you are likely to live well into your 80s. And if you reach your 80s, you’re probably going to live into your 90s… and beyond! Today’s lifespans are unprecedented; the fastest-growing segment of our population is between the ages of 85 and 94!

Americans are living longer and having fewer children. But longevity alone will not transform senior housing. We are about to experience a revolution for which most are ill-prepared.

Very few of us are ready for long life expectancy. Even fewer of us are prepared for the likelihood of needing long term care (LTC). Sure, you might be thinking or even talking about your future needs. But 50% of seniors who “make plans” for their future financial needs rarely get past the planning stage.

In fact, more than 75% of seniors would rather plan for their funeral than plan for their final years. Talk about living in denial.

The High Cost of Denial

Many of us dwell in denial. After all, it’s a natural survival mechanism during complicated times like this. But refusing to plan for your future long term care needs helps nobody. I’ve railed against denial for years. When it comes to LTC, denial can be the ruin of people and families. The costs of LTC can be a destroyer of dignity, grace and finances without advance planning.

For those of us who’ve planned for LTC and embraced the possibility of living long lives, living at a CCRC (Continuing Care Retirement Community) is possible.

Jim and I are moving to a fabulous CCRC in February, 2018. That’s soon! Stay tuned for our updates.

In the meantime, if you think you’re going to live to 65, then 85, and maybe even 95… let’s make a plan for you. Click here to receive your free, no-obligation quote for your LTC insurance coverage.

What’s a CCRC?

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They’ve been around for over a century, starting first in Europe, mostly connected to religious organizations. The U.S. had about 7 CCRCs by the 1900s and they have continued to expand since then as both non-profit and for-profit operations. These days, the country has thousands of these facilities as their popularity continues to grow.

So what, exactly, is a CCRC? It’s a Continuing Care Retirement Community.

Here’s an academic definition I got from a recent insurance course I took:

CCRC’s (Continuing Care Retirement Communities) provide housing for senior citizens, an entire continuum of long-term care services, from part-time services performed by nonskilled staff to skilled nursing facility services.

Individuals start out in independent housing and naturally transition through assisted living to skilled nursing care, all while staying in the same community.

Yawn. This definition is so bland!

The “Retirement Home” for Today

For starters, I think the word “Retirement” in the title CCRC is now obsolete. Many people, including myself, will continue to work while living in one.

CCRCs are a place where people can enjoy a carefree, safe, luxurious, fun, stimulating, enriching – no matter what your interests are – lifestyle. Ours offers a strong sense of community. The CCRC is legally obligated to provide care for you through the end of life. And until that time, you’re living your best life possible! You also aging with grace, honesty and dignity.

The core offering of a CCRC is the ability for its residents to “age in place”. They provide an environment that promotes healthy, independent living which typically contributes to a happier and richer quality of life.

As medical needs increase, the appropriate level of care is available without creating radical, unsettling changes. Residents continue to be part of the community, maintaining friendships in familiar surroundings. This “all in one” solution provides great peace of mind to the seniors and also to their family members.

Jim and I are moving to a place called Shell Point Retirement Community (Fort Myers, FL) in February, 2018. That’s really soon! We contemplated this move for a while. Eventually, our attitudes towards CCRC’s shifted. We realized moving now, while we are still healthy, active and vital, was not only wise, but feasible.

Moving to Shell Point does not mean I’m retiring! I will continue to work, because I love my job. I can offer 30 years of wisdom and insight into long-term care protection, plus strong, client-centered ethics. My phone and email will will not change; I’ll continue to support you. When I’m not working, Jim and I will experience a truly fun lifestyle!


The Special Case for Women and Alzheimer’s

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As I reported in October 2015, Alzheimer’s disease has a disproportionate impact on women. As we close out 2018, the statistics have not improved for us. In fact, two-thirds of America’s 6 million Alzheimer’s patients are women. It’s time for us to pay special attention to women and Alzheimer’s disease.

First, some quick facts from the Alzheimer’s Association and the Women and Alzheimers site:

  • Every 65 seconds, someone in the US develops Alzheimer’s
  • At age 65, a woman has a 1 in 6 chance of developing Alzheimer’s disease. Her risk for breast cancer is 1 in 11.
  • Also by age 65, a woman is twice as likely to develop Alzheimer’s than a man. By age 75, she is three times as likely.
  • More than 60% of unpaid Alzheimer’s caregivers (friends and family of Alzheimer patients) are women.

More Likely In Women

It seems like Alzheimer’s disease can affect any family at any time. So why is it more prevalent among women? Is it because women live longer than men? After all, the disease is more prevalent as we age. But we now know that the early symptoms of Alzheimer’s often begin 20 years before they are ever diagnosed.

Genetic risk factors are now getting more attention and focus. Back in the 1990s, scientists found that the presence of the ApoE4 gene was the primary culprit in the patient’s memory and other mental abilities. Further tests showed that this is more applicable to females. 

Heart disease and smoking are also considered contributors to the onset of Alzheimer’s disease. So is depression, which is more common in women than in men. And there is always the deepening discussion around hormonal changes that are so much more intense for women as they age.

Because women usually take on the responsibility of caregiving, there is some research that points to this extra emotional burden as a possible risk factor. 

Alzheimer’s patients and their families have a great amount of uncertainty and difficult decisions in their future. If you or someone you love is a woman, extra care should be taken to prepare for this disease.

Don’t get caught by surprise when the statistics are this powerful. You can begin by clicking here to receive your free, no-obligation quote for a long term care insurance policy.

It’s National Long Term Care Awareness Month!

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November is officially National Long Term Care Awareness Month (LTCAM). The US Congress created LTCAM in 2001, making this the 17th anniversary! Congress recognized the need to promote LTCAM as a month-long campaign aimed at educating Americans on the importance of owning Long Term Care insurance (LTCi).

Local, state and national governments recognize how unprepared citizens are. When it comes to being able to afford often catastrophically expensive long term care (LTC) costs, many of us are unprepared. Our government will not be able to adequately bear the costs of providing LTC. Long term care insurance costs are often a fraction of actual long term care costs.

How is Your Long Term Care Awareness?

Last year, Genworth Financial conducted a survey to see how informed Americans were on the costs, options and even the need for long term care. They found that only 1 in 5 respondents had taken any action in planning for their future medical needs.

They also found a lot of misunderstanding about who pays for for LTC costs, understanding the difference between Medicare and Medicaid, and a general lack of knowledge about what kind of costs are covered.

  • 2 out of 3 respondents expect government programs to cover the costs of their LTC needs; however, 45% admitted that they didn’t know the difference between Medicare and Medicaid programs.
  • GenX is most concerned about paying for their medical expenses as they age. And yet, they are least likely to have a financial plan in place.
  • Millennials are most likely to have made proactive plans for their future. The research suggests that they have the lowest expectations of the government being able to pay, so they have taken action to protect themselves.

Here is a first-hand testimonial of someone who didn’t think she needed Long Term Care insurance, kept an open mind and bought the policy.

Knowledge is Power

The purpose of Long Term Care Awareness Month is to raise your awareness of the need to plan responsibly for LTC, right now! This is the very best way to ensure dignity, options, access and choices if LTC is necessary.

Unfortunately, the odds of needing LTC are high. You protect against other risks, like a car accident or house fire. The need for LTC is more likely than a house fire or car accident. LTC often costs more than a car or a house. If you’re not prepared, a lengthy LTC need puts your savings and retirement, and family at risk.

Just as it is smart to plan ahead for retirement, it’s smart to plan now for long-term care.

Take that first step. Click here to receive your free, no-obligation quote for your own Long Term Care insurance coverage.

 

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Open Quotation Mark"Honey - Whenever I need a clarification regarding our “LTC” you are “Johnny on the spot” responding in a very prompt manner, reassuring me, informing me in a concise way, patient with me as I massage the understanding in my own words. Your knowledge is current and expressed with confidence, offered in your conscientious and upbeat personality. Quotation Mark ClosedIt is a pleasure to work with you. Thank you for your expertise." ~ Nancy Damon, Houston, TX
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Here’s how to reach me:

Honey Leveen, LUTCF, CLTC, LTCP
“The Queen, by Self-Proclamation, of Long-Term Care Insurance (LTCi)”
8402 Concho Street
Houston, TX 77036

Phone: 713-988-4671
Fax: 281-829-7177

Email: honey@honeyleveen.com