assisted living Archives - 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.

How I Discovered My Fate – Part 1

September 9, 2019 by Honey Leveen Leave a Comment

In high school, I remember my social studies teacher telling us that we were going to have an aging crisis. There was going to be an enormous bulge of Baby Boomers with unprecedented long lifespans. With longer lifespans, they would have medical needs like we have never experienced before. She explained that we were not equipped to handle this crisis. Little did I know this was my earliest career call!

This thought lodged into the subconscious of my brain, resting dormant for many, many years.

About 20 years later, I got my insurance license. In the early days of my career, I was an agent for life, health and disability insurance. Looking back, I’m so grateful I took the time to build this fundamental knowledge of insurance products. It’s really helped me and my clients in my work in long term care insurance.

Great Advice

When I got my insurance license, my beloved Aunt Ruth, who I dearly miss, mentioned that she had bought a long term care insurance (LTCi) policy for herself. She described what it was and how it worked. And she recommended that I look into this new product. She suggested that adding it to my growing portfolio of insurance solutions could create even more options to help my clients. To my credit, I already learned that my aunt’s advice was usually correct and I began my research.

Back in those days, I actually had to go to the library to research long term care insurance. I was unable to find any information in the books, magazines or journals on the shelves. So I turned to the microfiche (Do you remember those whirring machines?) where I finally found a few articles about this fascinating new insurance coverage. I was immediately intrigued and smitten by the nascent LTCi industry! The need and the product made so much sense to me!

A Quick LTCi History Lesson

While LTCi had been around since the 1970s, it really didn’t get much attention until the late 1980s. Even then, very few insurance agents understood it or offered it to their clients.

As my social studies teacher predicted so many years ago, our advances in medicine and technology were helping people live much longer than expected. Which was great news. Except that we forgot to plan for housing and care for our aging population as they became unable to care for themselves.

Heeding the Siren Call

Since my time in the microfiche stacks, the call of LTCi kept tugging at me. It was a brand new product. Hardly anyone owned it yet. Few people had ever heard of it. I could see the obvious need for it.

The economics were clear: Increased LTC Demand + Scarce Caregiver Supply = High LTC Costs.

Thanks to my early work, I already understood how insurance protects assets and gives people more access to a variety of options. The world of LTCi became an obvious path for me. A perfect fit!

LTCi is a product I could believe in with total conviction. It was something that could make a transformative difference for people and their families.

I believed the world needed a long term care insurance (LTCi) specialist. So, in the late 1980s, I launched my solo LTCi practice. I knew that being a pioneer in this industry would have its challenges. But I also believed the journey would end up helping a great many people!

More LTCi History: My Journey Begins

Stay tuned for Part 2 of my story!

In the meantime, if you’d like to receive a free, no-obligation quote for your own LTCi policy, just click here.

Keep Your Long Term Care Insurance After You Move to a CCRC

August 6, 2019 by Honey Leveen Leave a Comment

As a resident at Shell Point Retirement Community (SPRC), I have had a number of interesting, eye-opening conversations with my neighbors. Many of them believe that living in a Continuing Care Retirement Community (CCRC) is an opportunity to safely let go of their long term care insurance (LTCi). I do not recommend this!

Before you make this potentially dangerous decision for yourself or your parents, please read through these 3 experiences. Hopefully, they will serve as a cautionary tale and help you from repeating their mistakes.

1. Living in a CCRC Doesn’t Always Include Payment for Home Care

Sally’s mother lived in SPRC for 26 years. Although she needed care, her mother did not own long term care insurance (LTCi), since she believed the CCRC would cover the costs of her needs. Over the years, Sally’s mother was unwilling to accept the fact that her health was deteriorating and that she needed additional care. Ideally, she would have moved to the on-site assisted living facility or elected for home care.

The majority of CCRC’s pay for assisted living or nursing home care, but they don’t pay for home care.

As you’ll hear in Sally’s video testimony below, her mother was unwilling to pay for home care, preferring to preserve her estate for the benefit of her children. Her situation got so dangerous that Sally had to enlist intervention by a professional to “force” her mother into better care. Sally realizes now that the entire situation could have been avoided if her mother had been covered by a LTCi policy.

2. Nursing Care Paid Out-of-Pocket

When Hugh and his wife moved here to SPRC, they assumed that they no longer needed their LTCi since the CCRC would pay for their assisted living and nursing care. So they stopped paying their monthly LTCi premiums and let their policies lapse.

In her last months, Hugh’s wife became extremely disabled, needing care above and beyond what the assisted living facility could legally provide. Hugh was advised to move his wife to the on-site nursing home so she could receive the care she needed. While the assisted living center provides a cheery, home-like atmosphere, the nursing home is more sterile and institutional. Hugh just couldn’t bear moving his wife into the nursing home.

By remaining in assisted living, Hugh had to pay for round-the-clock caregivers out of his own pocket. As he shared his story with me, I told him about my work. He recognized how much he regretted giving up their long term care insurance. He knows that if they’d kept their policies active, the cost needed for his wife’s additional care would have been covered.

3. The Unexpected Need for an Off-site Facility

Nancy’s husband was stricken with Lewy Body Dementia. If this sounds familiar, this is the same illness that actor Robin Williams suffered from. This form of dementia can damage thinking and alertness. Symptoms can include physical stiffness, hallucinations and even violence.

As a result of his condition, Nancy’s husband became physically violent and needed more care than SPRC could safely provide. Despite their best efforts, SPRC was unable to keep him onsite. Nancy was forced to find an off-site facility that could properly care for her husband. Those unexpected costs (paid without the benefit of LTCi coverage) nearly demolished her savings.

Learning from Experience

You don’t have to have these experiences in order to learn the same lessons. Moving to a Continuing Care Retirement Community (CCRC) does not mean it’s time to end your long term care insurance policy. In fact, this may be the time you most want that peace of mind.

Click here to receive a free, no-obligation quote for your own LTCi policy.

Good News: LTCi Keeps People out of Nursing Homes!

July 30, 2019 by Honey Leveen Leave a Comment

One of the greatest fears among seniors is having to move to a nursing home. In fact, a study reports that seniors fear nursing homes more than they fear death. They don’t want to lose their independence.

And the majority of family members polled have serious concerns about their loved one suffering from neglect or mistreatment in nursing homes.

When I began selling LTCi in the late-1980s, assisted living was a new industry and facilities were hard to find. Most long term care took place in nursing homes or at home. In those days, some LTCi policies did not include assisted living coverage because it was so unknown.

Well, I’ve got some good news to share!

LTCi Can Keep People Out of Nursing Homes

Things are very different today. The 2019 Millman Long Term Care Insurance Survey is out, reporting on the current landscape of the LTCi landscape. It contains lots of good news for LTCi policyholders.

In 2013, 60% of policyholders avoided nursing homes. In 2017, only 30% of LTCi claims were for nursing homes.

People being cared for in assisted living live longer than in any other setting. LTCi claims for assisted living are now the longest and most expensive claims paid.

I expect this significant drop in nursing home admissions to continue. At least for those who are protected by their long term care insurance. Today, every traditional LTCi policy on the market will cover assisted living. This was not true years ago. Assisted living is now mainstream, popular, rapidly growing, and profitable. Happily, there are so many more choices are available.

Claims Are Getting Paid and In Record Time

The good news continues!

In 2017, payments to LTCi policyholders came to $11 billion for claims. This is a 55.9% increase in claim payments in the previous year. And claims are being paid 8% faster which means families are getting relief in a more timely manner. Expect this trend to continue.

Remember, LTCi ownership is a “long” game. The average age of LTCi purchase is 57. However, people don’t usually need to file a claim until they’re in their late 70s or well into their 80s. People who buy LTCi are realists, willing to plan for a future that’s years away.

If you’re someone who enjoys reading detailed insurance analysis, you can find the full report by clicking the image, below. And if you’re someone who likes planning for an easier future, click here to receive your free, no-obligation for long term care insurance coverage.

2019 Milliman Long Term Care Insurance Survey

Are Assisted Living Facilities Keeping Up With Needs?

March 26, 2019 by Honey Leveen Leave a Comment

Assisted living facilities and their residents don’t tire of blaming each other for sub-standard care.

An article in the New York Times reported the tragic and avoidable death of a 90-year-old resident, suffering from dementia. A resident of Brookdale Charleston Senior Living, she wandered outside — and not for the first time.

Nobody noticed her absence for seven hours. She was found in the pond behind the facility, dead from puncture marks to her ear, temple, jaw and cheeks. Her pacemaker was discovered inside one of the alligators that lived in the pond.

The assisted living facility has already settled the family’s claim for wrongful death and is now facing an additional suit for emotional distress.

Sharing the Blame

I believe that the residents, their families and the facilities can share in the blame.

Undertrained Staff

Assisted living is not federally regulated. Nursing homes are. State enforcement and sanctions are often lax and not very stringent.

Many experts agree that much of the problem stems from inadequate staffing which I’ve blogged about in the past. Adequate funding will easily resolve these shortcomings. An simple recommendation, but more difficult to implement.

Assisted living started as a service for people who were more independent. Residents who need help with activities of daily living (ADLs). Some residents were experiencing early cognitive challenges. Just a generation later, assisted living often accepts people with far greater needs. Needs they may not be prepared to fully accommodate. I often see this, and it disturbs me.

The Facility’s Profit Motive

Many assisted living facilities are for-profit entities, earning handsome returns to their investors. I have some friends who manage the marketing at some of these organizations. They often tell me that they are pressured by management to fill as many apartments as they can.

Facilities cannot offer this needed care at an affordable price point that fills apartments and attain financial returns that please their investors. As the saying goes, “No one can serve two masters.”

The Resident’s Budget

The residents (or their families) pay for assisted living out of their own pockets, unlike nursing homes. Medicare or Medicaid do not contribute. They have a high appeal, as they emphasize independent living instead of intensive medical care.

Many residents are unable to afford the higher cost of fully trained and properly staffed facilities, so they let their budget determine the quality of care they receive.

People want to deny the almost certain fact that they might ever need long term care (LTC). When they inevitably do need LTC, it is common for them and their family to downplay the true extent of their needs.

So they choose the posh, upscale environment so many assisted living facilities have, instead of one that may be better-equipped to actually care for the resident.

What happens when the residents and their family realize that they’re not getting the care they need? They might experience the tragic consequences like the resident in the NYT article. They might move to another facility more appropriate for their escalating needs.

Decide to Plan

When planning for your future needs, wouldn’t it be nice to make your decisions based on quality of life and not settle for a sub-standard solution just because of your financial limitations?

Choose quality! Click here to receive your free, no-obligation quote for your own Long Term Care insurance policy.

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