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Curing Alzheimer’s – Part 2 (See It. Acknowledge It.)

June 14, 2018 by Honey Leveen Leave a Comment

In my last blog post, I shared insights on the current challenges in funding research to support curing Alzheimer’s disease. You’d think that funding would be the biggest step in the treatment process. It’s not.

In order to develop and properly test potential cures, scientists need a viable population of test subjects to study. As Karen Ellen Foley wrote (Quartz, May 20, 2018), it’s incredibly hard to gather these patients. Once a patient appears to have the symptoms of Alzheimer’s, they have usually passed the stage where it can be treated. The damage to the neurons is irreversible and not suitable for testing new cures.

Recognizing Symptoms is Critical to Curing Alzheimer’s

In addition to the late timing of symptoms, there is another complication to the diagnosis process. Not only is it hard to recognize the slow shift in behavior, but patients are often surrounded by family and friends who would rather not admit that their loved one is in need of medical care.

Foley describes a gentleman whose early Alzheimer’s symptoms started in the mid-2000’s. He knew something was wrong because fixing things around the house became difficult and names of friends slipped his mind. He couldn’t remember how to cut his wife’s hair, which he’d been doing throughout their marriage. This man and his wife saw he was having problems and refused to admit it could be serious.

Ten years later, his behavior finally got extreme enough that his wife insisted he see a doctor. For ten years, he was allowed to ignore his medical condition. For ten years, he avoided treatment. And why? They were both afraid how the diagnosis would change their lives. The disease didn’t care. It continued to escalate, with or without their acceptance.

The great majority of my clients refuse to acknowledge how incapacitated they are by dementia, and their families often go out of their way to continue the ruse and deny the obvious.

We have had several dementia sufferers among the members of my Rotary club. Even with my vast experience with my clients who are cognitively impaired, I don’t always notice every case. Alzheimer’s disease is easy to cover up, at least in early-to-mid stages.

Know the Signs

A tell-tell sign of dementia is sometimes a vacuous or a scowling expression. I sometimes misinterpret their mood as, “I don’t want to talk with you”. Message received. I leave them alone. Only later, when I learn of their diagnosis, I can connect the dots. Withdrawal is a classic sign of dementia.

I’ve attended enough Alzheimer’s disease (AD) presentations to know that faulty business decisions are another primary indicator of AD. I’ve had more than one client who insisted they were able to manage their business affairs. When they fall behind in paying their bills, it looks like simple forgetfulness. When one of those bills is their Long Term Care insurance (LTCi) premium, the results are catastrophic.

The Enabling Spouse

In an attempt to keep things feeling “normal”, the spouse will often avoid stepping in to help their loved one. They don’t take over the paying of bills. They make excuses and pretend nothing is wrong.

They still allow their spouse to drive!

The thought of this is terrifying to me. I have a friend who has a dementia diagnosis. She is still highly functional, and still driving, despite the fact that she’s already had a couple of accidents!

I’ve blogged about age-related, normal cognitive decline. This is not what I’m describing, yet this is what people want to believe is happening.

Admitting you have dementia is difficult and requires an honest conversation. Maybe multiple conversations. It creates the possibility for earlier intervention and a life of more grace and dignity. It will allow for more open relationships with friends and family members and reduce stress for the patient and family.

Advance planning for long term care (LTC) is the best way to ensure dignity, options, choices, grace. When you’re ready to explore your options, click here for your personal quote.

 

 

Filed Under: I'll Just Self-Insure, Information About LTC, The Magic of owning long-term care insurance Tagged With: Alzheimer's Disease International, Alzheimers Disease, dementia

Retirees Don’t Want to Spend Their Retirement Savings On Care

May 10, 2018 by Honey Leveen 1 Comment

Senior man holding piggy bankThere’s yet another piece of research out telling us that retirees are unwilling to pay for long term care (LTC), even when they have more than enough in retirement savings. They are reluctant to “spend down” their accumulated wealth, “even when assets are plentiful or when there is guaranteed income available to ensure that retirees will not run out of money.”

Lori Lucas, president and CEO of the Employee Benefit Research Institute (EBRI), points to all the financial uncertainty of retirement. These pensioners may be “afraid of facing catastrophic health care costs if they need to stay in a long-term care facility for a prolonged period.”

Ironically, the monthly cost of a LTC insurance (LTCi) premium would go a long way to relieve that uncertainty.

You can read the detailed study here, “Asset Decumulation or Asset Preservation? What Guides Retirement Spending?”

They Won’t Dip In to Their Retirement Savings

I spoke with a home care agency owner who sees this all the time. He said that 75% of his clients who own long-term care insurance (LTCi) would not be getting much-needed care without their LTCi benefits. Even though they lived in million dollar homes with abundant financial resources, they’d rather not spend the money. Despite their ability to pay, they would rather do without the care were it not for their LTCi benefits. They just don’t want to “spend down” their retirement savings.

If you scroll through the comments on my Testimonials page, you’ll see many adult children confirming that their highly affluent parent would not have consented to needed care if they didn’t own LTC insurance.

Here’s another blog I did about highly affluent people who just don’t like to spend money.

LTC insurance helps people access high quality care, it’s that simple! Click here to receive your free customized quote.

Filed Under: Elephant in the Room, I'll Just Self-Insure, Information About LTC Tagged With: ltc planning

Can’t the Government Pay For This?

April 23, 2018 by Honey Leveen Leave a Comment

MoneyThere is a growing trend in the United States. More and more Americans now want the government pay for programs that meet our daily needs. Does this surprise you? It sure isn’t what I expected to find.

For years, the rallying cry has been for smaller government. In fact, this recent shift marks the first time in 8 years that a majority of Americans now favor an increase in government participation. A report from the Pew Research Center found that most Americans think the government is doing too little to help young people, the elderly, the middle class and the poor.

This new trend was also reported by William A. Galston’s article (WSJ, “Americans Want Big Government“):

“In the NBC/Wall Street Journal poll last month, 58% of Americans—the highest share ever recorded—agreed that ‘government should do more to solve problems and help meet the needs of people,’ compared to only 38% who thought that ‘government is doing too many things better left to businesses and individuals.”

Galston also cited a Kaiser survey that reports an interest in increased spending on defense and education.

As early as 2017, a separate Pew survey found broad support across both Republicans and Democrats for increased spending on veterans’ benefits, infrastructure, scientific research, environmental protection and assistance to the needy.

Can the Government Pay for Programs?

Not this government. Not today. “The federal deficit is big and getting bigger… Its balance sheet reveals that the public debt will reach $15.7 trillion by October.” And these numbers don’t include “unfunded liabilities, reported by the Social Security and Medicare Trustees, that are four times the current public debt.” (John F. Cogan, WSJ, “Why America is Going Broke.“)

So, if you’re counting on Medicaid…

I’ve written a number of articles urging you to become more self-reliant when planning for your future. Our nation’s financial uncertainty does not have to limit your access to quality care. You just need to do a little planning today.

The first step is to click here to receive your personal quote for Long Term Care Insurance.

 

 

Filed Under: Information About LTC, Long-Term Care Awareness Month, Medicaid Planning Tagged With: Medicaid Planning, Wall Street Journal

State of the LTCi Industry – 2018 Update

April 7, 2018 by Honey Leveen Leave a Comment

LTCi Converence 2018
I spoke on a well-attended panel on branding. Clockwise from upper left: me, Denise Lott, Marilee Driscoll, Betty Doll.

I’ve just returned from the largest long term care insurance (LTCi) conference in the world and my head is still spinning! I got to experience so many fantastic speakers and participate in some great conversations. Throughout the week, I mingled with about 1,000 actuaries, claims people, insurance regulators, top management and marketing colleagues. One of the highlights of my year, it is always invigorating to spend time with these professionals in the LTCi industry.

The LTCi Industry is Alive and Kicking!

I am happy to report that the LTC insurance industry is alive & kicking and in solid financial condition. New asset-based LTC products have given the industry an additional boost. Known as “combo” or “hybrid products, these solutions are helping more and more people find ways to protect their future.

What has not changed over the years is the #1 reason people postpone or even avoid purchasing this important coverage. They just don’t believe that they’re going to need professional medical care in their later years. They convince themselves that the government will pay for it if they do. The media often portrays LTC insurance in an undeserved negative light. If an article describes a family’s tale of hardship, the fact that their LTCi coverage actually helped gets buried. LTC is truly the Rodney Dangerfield of insurance!

The need to protect ourselves from the high risk and high costs associated with LTC is not going away. In fact, the need is growing as the Boomers age.  For most of us, there is still no better way to fund long term care than with insurance. Fortunately, the LTCi industry remains committed to offering excellent policies at reasonable cost.

There is still no substitute for the dignity, choices and access only LTC protection provides!

Is LTC insurance the right choice for you? Click here to receive your personal quote for Long Term Care coverage.

Filed Under: Helpful Information About LTC, Information About LTC Tagged With: Helpful Information About LTC, Information About LTC

Dissolving Myths about LTCi, Part 2

February 7, 2018 by Honey Leveen Leave a Comment

Previously, on Long Term Care Insurance Myths…

People with question marks over facesWe have seen multiple examples of the press misrepresenting the current state of the Long Term Care insurance (LTCi) industry. In my last blog post (you can read it here), I called out a specific article in the Wall Street Journal (Jan 2018) that predicted the imminent downfall of the industry. They cited financial instability and unexpected rate hikes as the central culprits.

Multiple experts from the LTCi industry penned their objections, offering well-sourced facts. Like me, they were compelled to present a number of articles in response. The status of long term care insurance is not only financially stable, but also more popular than ever.

More Answers to Long Term Care Insurance Myths

This blog focuses on the response from my colleague, Steve Moses, President of the Center for Long Term Care Reform. Moses is a noted expert on both state and national levels.

In a letter addressed to the author of the WSJ article, Moses highlighted the glaring omission from the article: the dominant role that Medicaid plays in the long term care solution*. He reminds the author that government policy is central in determining the financial stability of long term care.

He concludes: “It is a tragedy to blame private insurers and the dedicated people who’ve tried to make the LTC insurance product work for problems caused by poor public policy. Blame the culprits, not the victims.”

As we’ve recently discussed, people who own long term care insurance (LTCi) have necessary funds and are far more likely to be able to avoid Medicaid, stay at home, or access quality assisted living if they need long term care.

Click here to receive your personal quote for Long Term Care Insurance.


*In his monograph, “How to Fix Long Term Care Financing” (July 2017), Moses explains:

“Medicaid is not just a factor in long-term care financing; it is the critical factor. Since its founding in 1965, Medicaid has evolved from a minor funding source to the primary funder of formal paid care.”

 

Filed Under: Correcting Ignorant Public Figures, Helpful Information About LTC, Information About LTC Tagged With: Long Term Care insurance, LTCi, LTCi rate hikes, rate hikes

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Testimonials

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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Honey Leveen, LUTCF, CLTC, LTCP
“The Queen, by Self-Proclamation, of Long-Term Care Insurance (LTCi)”
404 Royal Bonnet
Ft. Myers, FL 33908

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

Email: honey@honeyleveen.com

Email: honey@honeyleveen.com

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