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There’s No Planning Without Communication

July 22, 2019 by Honey Leveen Leave a Comment

long term care planning requires communicationCommunication 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.

 

Filed Under: 3 in 4 Need More, Age related brain loss, Age related cognitive impairment, Elephant in the Room, Helpful Information About LTC, I'll Just Self-Insure, Information About LTC Tagged With: Denial, Eileen Tell, Living in Denial, Long Term Care insurance, LTC Insurance, LTCi, SOA, Society of Actuaries, www.soa.org

Falling to Your Death

July 8, 2019 by Honey Leveen Leave a Comment

falls lead to deathsFalls are the #1 cause of long term care need. They are typically a result of decreased body strength, balance issues, vision problems, home hazards or foot pain. Usually it’s a combination of two or more of these factors.

As we age, falls become more complicated to bounce back from. While most falls don’t lead to permanent injury, one out of five do result in serious injury, like broken bones which don’t heal as well or brain trauma.

Falling By the Numbers

  • In 2017, unintentional falls led to over 36,000 deaths in the US.
  • The National Council on Aging reports, “Every 11 seconds, an older adult is treated in the emergency room for a fall; every 19 minutes, an older adult dies from a fall.”
  • One in three adults over 50 years of age dies within 12 months of suffering a hip fracture.
  • For older adults, the risk of a hip fracture leading to death is 5 – 8 times higher. Death can occur as quickly as 3 months after suffering the fracture.

What’s Behind the Falls?

The National Council on Aging explains how preventable most of these accidental deaths are. So if we have the means to avoid the injuries, why are they continuing to happen more frequently?

In my experience, many fall-related deaths are caused because people fail to accept the fact that they need to slow down and/or need help in their simple, daily tasks. They shrug off stumbles or occasional falls as “part of getting old”. As their needs rise, they continue to deny their declining capacity. As if this denial of reality will postpone the worsening of their situation!

I see this in my new community at Shell Point Retirement Community and, I must admit, I expected my neighbors to be more in touch with the reality of their true needs. We live in an environment where the full spectrum of care is available and paid for. And that level of care is above average.

I have a neighbor who resists using her walker even though she admits to having great difficulty with her arthritis. She admits to her difficulties with opening jars and dressing herself because of her arthritis. And there are many similar examples of this “head in the sand” avoidance.

The simplest way to reduce falls is to be brutally honest about your actual need and circumstances, and then taking the appropriate action. People evidently have huge difficulty doing this.

Denial of the facts is something I’ve written about extensively. I understand that resisting the truth of our declining health is part of our survival instinct (or maybe just our ego?). It’s just a shame that so many intelligent people are unable to override this instinct more often.

In doing so, they may suffer the ultimate consequence.

Take the first step to proactively plan for your future care and well being. Click here to receive your free, no-obligation quote for long term care insurance.

 

Filed Under: Age related brain loss, Age related cognitive impairment, Elephant in the Room Tagged With: Denial, Fall deaths, falls, Living in Denial, national council on Aging, Shell Point Retirement Community

Actress, Director Penny Marshall Also A Victim of Brain Loss

June 24, 2019 by Honey Leveen 1 Comment

Penny MarshallI’ve been writing a lot lately on the devastating (and often silent) effects of Brain Loss that often strike in our later years. The Journals of Gerontology published the results of a study on age-related brain changes and how these changes can leave the subject vulnerable to financial exploitation. According to their findings, “Approximately 1 in 20 adults can be expected to experience some form of financial exploitation past the age of 60, an incidence rate eclipsing many age-related diseases.” This financial exploitation is a result of impaired financial judgment. Which brings us to the final years of the life of Penny Marshall.

Penny Marshall Was Unprotected

Beloved actress and director, Penny Marshall, died in 2018, from complications from diabetes. It is also known that she had a bout with lung cancer which ultimately metastasized in her brain. Fortunately, both the lung and brain cancer went into remission after 2 years of treatment.

In a recent interview, Anjelica Huston shared about her friendship with Marshall, describing the peculiar way the director spent her nights. “Her rooms were freezing. Like air-conditioned, way up. She stayed up all night, followed QVC for beanbag dolls and stuff. She had this collection of sports memorabilia. She had a sort of museum in her basement full of signed baseballs and Lakers shirts. I just couldn’t relate. And also, frankly, she took a lot of coke.”

It became too much for Huston and she stopped visiting her friend.

Who Will Watch Out For You?

Penny Marshall’s final years contains some indications of erratic spending habits and other unusual behavior. There were no controls in place to protect her from herself or to ensure that she was receiving the best possible medical care to properly manage her diabetes.

I will continue to beat the drum, reminding you how important it is to have a clear plan in place that provides for your care and protects your interests. It may be difficult to acknowledge your future need for assistance, but denying the liklihood doesn’t improve your odds. In fact, it actually increases your risk.

The time to make these plans is NOW, while you are still thinking clearly. Penny Marshall failed to plan and, by default, planned to fail.

Click here to receive your free no-obligation quote for long term care insurance coverage. It only takes a minute and can make all the difference!

Filed Under: Age related brain loss, Denial, I'll Just Self-Insure, Information About LTC Tagged With: age related cognitive decline, Anjelica Huston, brain loss, Denial, financial exploitation, Living in Denial, Penny Marshall, scams

Astounding Knowledge Gap!

December 9, 2017 by Honey Leveen Leave a Comment

5.4 million Americans have Alzheimer’s disease, with a new diagnosis made every 66 seconds.   This comes from a poll released by Maria Shriver’s Women’s Alzheimer’s Movement and the Bipartisan Policy Center. It’s got a lot of surprising information about the public’s lack of awareness of Alzheimer’s disease. When preparing for Alzheimer’s, we find ourselves using a lot of inaccurate information.

The Knowledge Gap is Huge!

According to the poll (October 2017), there is a significant chasm between commonly held beliefs about Alzheimer’s disease and the actual facts about Alzheimer’s. Let’s take a look at some of those myths versus facts:

Most women (over 70% polled) believe that symptoms don’t begin until their 60’s.

  • Actually, symptoms develop 20 – 30 years before diagnosis
  • Also, women are at a higher risk for Alzheimer’s disease, as 66% of diagnoses are women.

44% of Americans have no concerns about Alzheimer’s because it doesn’t run in their family.

  • Your genes do not accurately predict Alzheimer’s disease.

54% of those polled believe that the long term care costs will run around $25,000 per year.

  • In 2014, the average nursing home stay costs $87,000 per year.
  • In 2014, the cost of home health care costs $45,800 per year.

Preparing for Alzheimer’s

Once we have the facts around this insidious disease, we are better able to prepare for the possibility of living with Alzheimer’s.  You can click here to read the details of this poll and even download the key findings from the survey.

 

A future with Alzheimer’s disease is very likely, especially if you are female. Keep this in mind when planning your long term care options. Although most people (66%) want to be cared for by family members, few are having the conversation.

Taking steps to plan today can relieve your family of an unnecessary burden in the future. Plus, you’ll receive professional medical care, either at a facility or in the comfort of your home.

Now that you know, why would you wait?

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

Filed Under: Denial, Elephant in the Room, Helpful Information About LTC Tagged With: Denial, Helpful Information About LTC

How Could This Happen? A Story of Procrastination

September 18, 2017 by Honey Leveen Leave a Comment

“June 22, 2012 – Patient needs assistance at home, currently does not need medical care. Patient lives very remotely and may not be able to find certified caretakers,” read the physician’s comments on the “Evaluation of Cognitive Impairment” form. And just like that, the patient (my client) became eligible to start receiving long term care insurance payments. “Diagnosis: G30.1 Alzheimer’s”

With this diagnosis, many of us would immediately spring into research mode. We would take a deep dive into the science around this disease, build an understanding of the future symptoms and also determine what care would be needed as the disease advanced.

Many of us would, but not everyone. Because in order to begin the research, we must first accept the reality of our new circumstances.

Three Years Later…

His wife (also my client) called me two years ago, asking me to review his policy with her. We discussed his diagnosis. I recommended that she hire home care, as originally recommended by the doctor. I also suggested that she research other options that would probably be needed in the future, like assisted living.

His long term care insurance (LTCi) policy currently pays $208 per day for home care, assisted living, nursing home care, and more. This couple is eligible to receive over $6,000 per month! It would have begun payments on the first day he needed care, covering up to four years at home and unlimited time in an assisted living facility.

Last Month:  Still Not Claiming Long Term Care Insurance Payments

His wife called again just a couple of weeks ago, asking for another policy review. I could tell she was stressed and distracted. Her mind was unfocused. She was too distraught to fully digest my answers to her questions. She also had questions that had nothing to do with the LTCi policy.

I could feel the fear, as she was finally facing the reality of her husband’s condition. I wish I could have sat with her, rubbed her shoulders, and given her a hot cup of tea. In retirement, this couple had moved to a very rural area in Colorado and they have limited access to traditional care.

By the way, even in very rural areas, there are fantastic alternative solutions available, including ways to locate qualified caregivers. Especially, like my client, if your LTCi provides the financial coverage for these needs.

The High Cost of Delayed Filing

Primary family caregivers typically suffer physical, mental, and financial problems twice as often as non-caregivers. Purchasing a LTCi policy will significantly ease these challenges. But that’s only the first step.

You also have to acknowledge the seriousness of the situation and ask for help. You’ve faithfully paid the premiums all these years. This help is yours to receive.

The husband’s long term care insurance payments could have already provided many tens or hundreds of thousands of dollars in claim payments by now. Their lives could have been far less stressful with more joy and dignity.

With LTCi, as with other things in life, planning ahead can greatly reduce suffering. This couple did the right thing, the wise thing, when they bought their LTCi.  When they heard the Alzheimer’s diagnosis, they sunk into denial. Very, very powerful, unnecessesarily stressful denial, with expensive consequences, both financially and emotionally.

Your LTCi purchase is about preserving wealth. But more importantly, your LTCi purchase is about having dignity, options, and access to high quality care when needed.

We have control over whether to be honest about the truth or deny it.

Take the first step in planning for an easier life. Click here to receive a free quote for long term care insurance.

 

Filed Under: Denial, Elephant in the Room, Helpful Information About LTC, I'll Just Self-Insure, Information About LTC Tagged With: Denial, Elephant in the Room, Helpful Information About LTC, self-insure

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Fax: 281-829-7177

Email: honey@honeyleveen.com

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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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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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