Age related cognitive impairment Archives - Page 2 of 3 - Long Term Care Insurance Expert | Honey Leveen

Pro-Act, Don’t Re-Act

September 17, 2019 by Honey Leveen Leave a Comment

At long last, we have a string of incredibly positive articles featuring LTCi news! Writers are really doing their homework and digging into the research. They are reporting on the many benefits of long term care insurance (LTCi).

1. When to Move to Assisted Living

It can feel tricky when to make that decision. At what point do we need to leave traditional independent living and move into an assisted living community? This article in U.S. News & World Report (Aug. 9, 2019) gives some simple indicators to look for:

Has there been a decline in medical conditions? Is there overall weakening in personal strength or more falls happening?
Are personal finances becoming more difficult to manage? Are there more money-related problems?
Is the home no longer kept clean? Is personal hygiene falling off? Are there healthy meals prepared daily?
Are there signs of depression or social isolation?

As we age, it is more common to experience multiple medical conditions at the same time. Degrading vision along with a neurological disease like Parkinson’s creates a formidable challenge in maintaining independent living.

And, as I’ve often discussed, the brain deterioration of dementia or Alzheimer’s disease can result in forgetfulness (taking prescriptions properly), poor decision-making and poor motor skills (prone to dangerous falls).

Have That Conversation EARLY

When that time comes, will we be able to recognize the signs? And with all those signs staring us in the face, will we be willing to accept the decision ahead of us? Roxanne Sorensen, an Aging Life Care specialist, reports that, “Families are making some of the most important decisions of their life while they’re emotional. They don’t have time to think about it. They’re in a crisis situation, and now they’re faced with the decision of where mom or dad is going to be institutionalized for the rest of their life.”

Once again, we’re reminded that the time to make these plans is before the decisions have to be made. When we’re less emotional and more level-headed. Plus, having this conversation early provides extra time to research local community options and make the best possible choice. What a luxury to have the time to join a waiting list for the more popular places instead of taking “whatever we can find”.

2. Assisted Living Improves Quality of Life

The very same week, the same publication printed a separate article on LTCi news. They list some of the great benefits of moving to assisted living. Here’s a sample of offerings from some communities:

DAILY TASKS: This includes support for regular grooming, bathing and preparing healthy meals that support specific dietary needs (diabetes, blood pressure, etc.).
SOCIAL ENGAGEMENT: One of the easiest remedies for social isolation and depression is the feeling of belonging that comes from living in a supportive and active community.
RECREATION: Exercise, movies, walking clubs and reading groups can rapidly fill the calendar of residents.
MEDICATION MANAGEMENT: Assuring prescriptions are taken at the right time, in the correct dosage. Also coordinating timely delivery from local pharmacies.
EDUCATION/CULTURAL PROGRAMS: Guest lecturers, educational curriculum and culturally-themed events adds tremendous richness.
SAFE ENVIRONMENT: Having staff on hand to assist in difficult tasks, living heavy objects or just taking a walk around the grounds.
MEMORY SUPPORT: Daily interaction with therapeutic recreation, under the supervision of trained professionals, from memory classes to art classes.

Of course, these benefits will vary from facility to facility, so be sure to do your research EARLY to find the best match for your needs.

3. Boomers As Caregivers

In more LTCi news, the Baby Boomer generation is facing the hard decisions as they try to manage the long term care needs of their parents. In fact, 9 out of 10 boomers who expect to be caregivers recognize that they’ll be making significant sacrifices in their own lives for the sake of their parents’ care.

These sacrifices range from cuts in personal spending and travel to reducing work hours or completely leaving their careers.

The good news is that the boomer generation is more willing to have the important conversations with their children when it comes to planning for their own care in later life. They recognize how likely it is that they will need long term care. And they are making the necessary plans to prepare themselves and their family for that future.

The article cites a study that concludes, “With one-third of caregivers tapping into their nest eggs to pay for health care expenses, it’s vital that payment planning for future caregiving is considered and prioritized in equal measure.”

Striking Gold With LTCi News

Reading these 3 recent articles completely align with the themes that drive my passion for my work in long term care insurance. I believe it’s better to stay ahead of problems. The time to act is when “the writing is on the wall”, not when the wall is crumbling down around you.

I know how important it is to have these difficult conversations with our loved ones (and ourselves!). It is my mission to support people in creating the best possible environment in their later years. One of quality living, dignity and independence.

To begin, click here to receive your free no-obligation quote for your own LTCi policy.

Indecision Paralysis Can Be Very Expensive

August 20, 2019 by Honey Leveen Leave a Comment

I had a phone conversation with a 62-year old woman I’ll call Margaret who was interested in learning more about long term care insurance (LTCi). She still works full-time, and her “off hours” are completely dedicated to caring for her husband who suffers from Alzheimer’s disease. She wanted to learn about LTCi costs and how it works.

In our chat, Margaret quickly revealed some details about her own health: a long-time smoker and her frail stature. She described the daily demands of her time and energy, caring for her husband after putting in a full day at her job. I could feel the weight of her words as she shared her concerns with me.

For now, her husband is able to stay home unsupervised while she works. Margaret understands that this is only temporary, as her husband’s condition continues to decline. And she worries that if he should fall during the day, it could result in very dangerous, if not fatal, injury.

Margaret’s nights and weekends are consumed with caring for her husband. She has no social life outside of the home. And she is keenly aware that the day is coming when she can no longer leave her husband unsupervised.

Will she have to

Hire a professional caregiver?
Move her husband into a facility, separating them for the first time in their 40+ year marriage?
Leave her job?

Discussing LTCi Costs

When Margaret and I met, we discussed the current quality of her life. The weight of her responsibility was really taking its toll on her. And it served as her motivation to shield her son from taking on this same role if she ever became unable to care for herself.

Margaret understands better than most the important value of buying LTC insurance.

We talked about the fact that if her husband had an LTCi policy, they both would be benefiting socially, economically, medically, and emotionally. For example, there could be a caregiver in their home, giving her peace of mind while she worked and easing her responsibilities when she came home.

She desired these options for her son so he wouldn’t have to sacrifice so much of his life to take care of her in the later years. We also talked about the quality of life for Margaret, having access to a variety of lifestyle choices and restoring dignity to her days.

Even Knowing All the Facts

Margaret chose not to proceed with her LTCi application. Maybe “chose” is the wrong word. What really happened is that she was paralyzed with indecision. Even though she understood the importance of long term care insurance and saw she could manage the LTCi premiums, she was unable to make that next step. I wish I did not see this as often as I do.

Unfortunately, if Margaret needs long-term care (LTC), she and her son will end up paying a higher price in time, energy, quality of life, and stress.

You don’t have to be caught by surprise, like a deer in the headlights. Take that first, proactive step to protect you and your family. Click here to receive your free no-obligation quote for your own LTCi policy.

There’s No Planning Without Communication

July 22, 2019 by Honey Leveen Leave a Comment

Communication is one of the most important factors in any significant relationship, right? And yet it is usually absent or at least faulty when it comes to sharing important information about health and finances. Sometimes the parents hide information from their children or the kids keep details from their parents. Or spouses feel the need to protect one another from the truth of their declining health.

In a recent issue of the newsletter published by the Society of Actuaries, I read an article written by my friend and colleague, Eileen Tell. Tell is an academic and a researcher. Her article is based on findings from research she conducted for the Office of the Assistant Secretary of Planning and Evaluation (ASPE), part of the U.S. Department of Health and Human Services.

In the article, Tell summarizes observations from consumer focus groups conducted as part of that study, intended to better understand a family’s search process for long term care services. The findings of the study support the same experiences I observe among my own clients.

“A common theme heard in all the groups was the lack of awareness of the decline in either physical or cognitive health of their loved one until this acute episode occurred.” By shielding family members from important facts, most are caught by surprise when there is a sudden decline in their health.

In many cases, it takes a major event to trigger family involvement. A fall, sudden illness, a stroke, or the unexpected need for a new primary caregiver. Family members find themselves unprepared to manage the important decisions that require immediate answers.

Communication Has To Happen

George Bernard Shaw wrote, “The single biggest problem in communication is the illusion that it has taken place.” You may wish that it happened. You may even think you were clear. But until all parties have the details and understand the situation, there’s no way you can properly prepare.

The study groups reveal the same patterns I see with my clients:

A lack of awareness of the decline in their loved one, until an acute episode occurred.
Aging parents typically shield their adult children from the realities of their limitations.
Where mom or dad ultimately winds up receiving care is very much a function of finances.

Sometimes, family members begin to address the sensitive subject of long term care, only to be met with silence, half-answers or a complete change of subject. Especially when it came to talking about paying for that care.

This type of denial is so widespread, that I’ve written many dozens of blogs about it.

I will never understand why people elect to re-act, rather than pro-act. I’ve seen many people who could have afforded long term care insurance (LTCi), but they refused to consider it. As if the very conversation was more taboo than their actual future without plans. LTCi can help cover a lot of future costs. Some often include care coordinators, too.

For my clients, LTCi is often transformative, a game-changer. This makes my career career hugely satisfying.

It’s rare to find families who are composed, level-headed and functional when long term care is needed. One thing should be obvious, though. When someone buys LTCi, they are stacking the deck in their favor that their future will unfold in a more dignified, graceful, considerate and affordable lifestyle.

Click here to receive your free, no-obligation quote for your customized long term care policy.

Bringing Joy to Dementia

July 17, 2019 by Honey Leveen Leave a Comment

Dr. Patricia (Tia) Powell has a new book, “Dementia Reimagined“. In this refreshing piece of work, Dr. Powell, director of the Montefiore Einstein Center for Bioethics, shares her experiences with dementia as both caregiver to her mother and physician to her aging patients. Abundantly qualified and credentialed, she finds herself in the unique position to discuss the possibility of joy, dignity and hope while dealing with dementia.

Terry Gross, host of the NPR podcast Fresh Air, had an excellent conversation with Powell. They delve into Powell’s experiences and her outlook for the future of treating dementia patients. You can listen to the podcast yourself (or read the transcript) here.

“Figuring out how to communicate better, how to listen better to people with dementia while they can speak and even potentially afterward to figure out, what could I do? What actually would be helpful, not from my point of view but from yours? What actually would make things better?”

In this poignant interview, they discuss the various tolls that dementia takes on the person. It’s not just memory loss. It can also include depression or anxiety. It’s a disease of the brain, so it also involves loss of “executive function”. That means that making the simplest decisions or even organizing the natural flow of tasks can be daunting. And frustrating.

Managing Dementia With Joy

Dr. Powell views caregiving and dementia through both a medical and a personal lens. My relationship with dementia patients is as their insurance agent, helping them manage their long term care. It’s reassuring that Dr. Powell and I share perspectives on how to optimize the patient’s experience.

During her interview, Dr. Powell offers sound advice on how families can make the most out of a dementia diagnosis. She often uses music as a real comfort to many of her patients. For some reason, the memories we hold from certain songs manages to hold up over time, even in the throes of dementia.

ProTip: Many professionals recommend making a playlist of your favorite songs NOW, while you can think of those chestnuts that light up your heart and bring a smile to your face. They’ll be such a source of joy for you in your later years.

She also suggests other hobbies like gardening might hold the key to reconnecting the patient to activities they once enjoyed.

Powell also shares her thoughts on why keeping the dementia patient at home is not always the best choice. Followers of this blog know that I’ve written about this often over the years. It’s always affirming to hear the experts supporting my views!

At about the 30-minute mark of the podcast, Dr. Powell does a great job explaining what Medicare and Medicaid pays for, and why neither will pay for the type of long term care a dementia patient requires. If you’re like most Americans, her description will clear up many confusing questions you might have.

Manage the Fear with Planning

Dr. Powell stated people are more fearful of getting Alzheimer’s disease and other dementias than they are about getting cancer. I have to agree with this.

While there is no cure for dementia, we can take steps to plan for the best possible care if and when we need it. Make your playlist. Tell your children about your love of gardening or old movies. And click here to receive your free, no-obligation quote for long term care insurance.

Your Wealth Won’t Protect You From Fraud and Financial Abuse

July 15, 2019 by Honey Leveen Leave a Comment

Many people have a fond place in their hearts for the art of Peter Max. A symbol of the hippie counterculture in the 1960s and 1970s, Max’s work holds prized locations on the walls of collectors around the world. Now in his later years, Peter Max has fallen victim to dementia. His wealth nor his notoriety can protect him from the financially abusive situation he has landed in.

The courts are still sorting out the details of this twisted tale. Including lots of finger-pointing between his second wife, Mary Max (who died from suicide in June 2019), his son, Adam, and his daughter, Libra, along with the various lawyers, agents and guardians who were supposedly protecting Peter Max and his valuable business.

His Wealth Declined With His Health

The current state of Max’s condition is revealed in this article in the New York Times (May 28, 2019). The writer describes his lavish lifestyle and the popularity of his artwork. She also reports on the financial losses of his business and the questionable source of it’s latest recovery.

In 2012, Max’s health had rapidly declined and the dementia had taken a firm hold. Max was unable to work and finances suffered. The business, ALP Inc., defaulted on $5.4 million in bank loans. In exchange for half of his ownership in ALP, Max hired Lawrence Moscowitz, an insurance agent, to help breathe new life into the failing company. Moscowitz, in turn, appealed to Max’s estranged son, Adam, to actively manage the daily operations.

The revived business plan includes the hiring of “an expanding cast of artists to mimic Mr. Max’s more commercial work. In the acrylic-spattered space above the Chinese restaurant, according to seven people who have seen it, there were as many as 18 assistant painters…”

In six years, ALP transitioned from near-bankruptcy to generating over $93 million in sales. This is largely due to the aggressive exploitation of Peter Max’s reputation and his artistic style being sold as originals to unsuspecting consumers.

Where Was His Plan?

Peter Max’s business is now out of his hands, both artistically and financially. His family dynamics have deteriorated with the fight for guardianship between his wife and his children. Much of this could have been avoided by some thoughtful, advance planning and documentation. He could easily have provided for a formal succession plan. He could have selected his own guardian to look out for his interests in his later years.

Wealth is no protection against this type of failure. Oftentimes, the wealth only makes the fall more newsworthy. Stories about people protected from future illness by their long term care planning just don’t make the news.

You can take steps today to protect your future quality of life. Click here to receive your free, no-obligation quote for long term care insurance.

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