home health care Archives - Long Term Care Insurance Expert | Honey Leveen

Same Old Story

February 2, 2021 by Honey Leveen Leave a Comment

Just a few months ago Al was enjoying his wife, family and traveling. An acute health event occurred – an aneurism, I think. Now Al will need a tremendous amount of long-term care, for a long time. His family was unprepared for this.

While the circumstances are not that unusual, this particular story hit me hard. Al is my age, only about 68; he was my high school classmate.

This couple had successful careers and saved for retirement. They were constructive, active, engaged, intelligent, business-literate people. But they didn’t prepare properly for long-term care (LTC). If their situation is like most I encounter, an ethical and wise professional, like me, probably knocked on their door many years ago asking to introduce them to how LTC insurance works. They decided they didn’t need LTC insurance and were comfortable enough to self-insure for LTC. After all, they probably wouldn’t need it.

They are now stoically in reactive mode, cobbling together Al’s plan of care, under duress. I bet they do have the money to self-insure for Al’s LTC but they’re reluctant to use it, especially because Al’s need for care could last decades.

Al may need round the clock care. If they had LTC in place, it would pay enough to at least offer respite, possibly changing the wife’s caregiver role enough so that she had opportunity to enjoy her husband’s company.

The following is his wife’s post, the names have been changed:

“Al was transferred to *** **** Lab on 1/18 and it took several more days to wait for Covid results. By the time I finally saw Al, 6 weeks had gone by since I called 911. The family had daily FaceTime conferences with Al while he was in the ICU, but nothing could have prepared me for how lethargic he appeared. Al did remember me, but correct orientation was so limited. I went into a panic mode when a few days later, I was informed that Al’s discharge date to our home would be on 2/11 and that he would require 24 hour supervision for safety, home health and a nurses aide. My mind worked overtime trying to get answers and accommodate our home while planning to keep Al safe. It was much easier to spend whole days at Al’s bedside. Our time together was just as sweet and tender as could be.

THEN, during the second week of rehab, Al started to wake up! He had more periods of lucid wakefulness. His eyes were open and he could hold his head up. Many of his positive, adorable attributes started to emerge, including wanting to wear the “executive director” hat when working with a young speech pathologist. He has such a strong intellect! Al is learning to motor plan for getting from in/out of a chair/bed and using a walker 300 ft with 2 rest breaks and physical assistance. His appetite is getting better and he can feed himself, brush his teeth and use an electric razor, with supervision to stay on task.

I’m being truthful to all of you so that there are no misunderstandings or hopeful inflations of what Al can and cannot do at this time. Al is making progress every day and it may take a year or more. Currently, Al has a limited understanding of his struggles and concrete orientation to time and place continues to be a challenge. He is trying to fill in the blanks of his memory files and it is our responsibility to ensure that he files the correct information. I discovered that this is why watching tv is not helpful!

Discharge planning is underway and all home equipment will be ordered. ***, ***, ***** and I did a complete Do it yourself makeover of Al’s ground floor home office. This room is accessible and a place where we will be living for however long it takes. We are lucky that we planned this addition with a ramp and French doors. In addition, there is an attached efficiency kitchen and full bathroom.

I help the nurses and therapists with Al’s care. I am lucky that patient care and rehab are the foundation of my OT career. This part does not intimidate me at all. While Al is at home, we will set up a daily schedule with music, current events for time and place, self help, seated cooking, games with grandkids, etc. Home will be a good place for continued recovery.

Before we left on our trip, we were in the process of joining ALL of our accounts and passwords. We ran out of time and did not complete this task, which was a big and costly mistake. Now that Al is not able to manage those accounts, I’m am locked out and and I had to obtain legal representation. My advice to friends and family, handle your affairs. Wrap it up in a bow for your trusted partner, family member or friend.

Thank you for all of the continued notes of love and concern. Al’s group of Brother/friends and wives/partners are a lifeline. I plan to lean on them once they get their covid shots. For all others offering help, that time will come when I may ask you.

Bye for now,”

TX Nursing Home Employees Quitting to Work at McDonald’s

April 12, 2016 by Honey Leave a Comment

According to reporters at Lubbock’s KLBK13, in a story titled, Nurses Quit Texas Nursing Homes to Work at McDonald’s, we face a dire shortage of nursing home beds by the end of this decade.

Nursing home employees, particularly certified nurse assistants, who are “front line” caregivers, get the worst pay, typically about $8/hour.

Meanwhile, McDonald’s is hiring, and they pay significantly more. Furthermore, their employees don’t have to mess with bed pans or risk injuries from transferring patients.

The story says TX nursing homes lose approximately $300 million per year. 85 percent of TX nursing home residents depend on Medicaid or Medicare. Each Medicaid patient is underfunded by 14 percent.

This dovetails with information I just received from Seven Acres, the Jewish nursing home here in Houston. Their April 2016 newsletter says, “Over 80% of our residents are so ill and indigent that they qualify for the state Medicaid program, which underfunds Seven Acres by $33,000 a year for each Medicaid resident. This translates into a $8 million annual loss for the Home. It is only through the generous support of our friends and community partners that we are able to offset the significant cost of care that Medicaid does not cover.”

Long-term care insurance (LTCi) ownership greatly increases the odds people will not receive care in a nursing home. Even the very best nursing homes – like Seven Acres – struggle with staffing shortages.

I’ve already sent Seven Acres my annual contribution.

Costs and Incidence of Long-Term Care

January 25, 2016 by Honey Leave a Comment

In his January 5, 2016 Forbes column titled “Costs and Incidence of Long-Term Care”, columnist Wade Pfau explicitly describes how likely it is any of us will need long-term care (LTC).

He states the most credible research he found determined that 58% of men and 79% of women aged 65 and older would need LTC at some point, and that average lengths for care were 2.2 years for men and 3.7 years for women. 38% of men and 63% of women will require care for one year or longer, while 11% of men and 28% of women will need care for at least 5 years.

He correctly explains people are not statistics. Statistics are irrelevant if you are the one needing LTC and you have not properly planned for it.

Mr. Pfau also correctly notes study results vary but the big picture is the odds are needing LTC are very high.

He accurately explains what LTC is.

He quotes average annual rates nationally for assisted living are $43,000/year and a private nursing home room is $91,250/year. A five year stay in a nursing home would cost $456,250 in today’s dollars.

Mr. Pfau explains that LTC costs vary and are regional. He gives the link to the newest Genworth Cost of Care Study, so people can determine a more precise cost of care in their locale.

What I find so entirely cool about Mr. Pfau is that he’s a fee-based financial planner. Unlike me, he is not a commission-based advisor who needs to sell products to make a living. He is an insightful thinker with a clear, common-sense, accessible writing style. He has an accurate view of the Big Picture and the necessity of responsible LTC planning.

In other words, he is interested in helping people create and achieve wealth – many financial planners can do that – but more importantly, once clients achieve wealth, he clearly understands the things they must do to preserve it.

The Importance of Planning for Long-Term Care

January 13, 2016 by Honey Leave a Comment

Forbes has recently published some explicit, straightforward and accurate columns on long-term care (LTC). These columns are a great service to the public and a refreshing break from the typically neglected, error-riddled, negatively slanted coverage of LTC.

Wade Pfau is a professor at The American College, Principal at McLean Asset Management, and Forbes contributor.

Mr. Pfau is my new LTC hero!

In his December 22, 2015 Forbes column on the importance of planning for LTC, he states most retirement income planning is focused on income needs and market volatility and longevity.

A major retirement risk, which receives far less coverage and is often ignored, is that of spending shocks: having to spend significantly higher amounts than planned. Mr. Pfau states, “Long-term care (LTC) spending represents one of the most severe spending shocks that can impact retirees.”

He continues, “An expensive LTC event could derail an otherwise well-built retirement plan. This problem is growing as people are living longer, since it becomes more likely that care will be needed for longer as well. Older individuals suffer from higher rates of physical and cognitive problems, and they may have fewer family members or friends who are in a position to provide sustained daily assistance.”

I love that Mr. Pfau also accurately describes the psychology of denial that causes the failure and refusal to properly plan for LTC. He goes on to explain that lack of LTC planning “can create strains as long-term care depletes household assets, bankrupts a surviving spouse, or adds burdens for other family members who may end up making large sacrifices to provide care.”

Mr. Pfau then continues to clearly, accurately describe what LTC is.

I am very grateful to Mr. Pfau and believe this column is of great value to readers.

You Can’t Insure A Barn Once It’s on Fire!

January 5, 2016 by Honey Leave a Comment

The following is a guest blog by my dear friend and trusted colleague Tobe Gerard of www.tobegerardinsurance.com:

During Chanukah, my brother-in-law greeted us with the unexpected news that he had been diagnosed with Parkinson’s Disease. He is 62. As we were coming to grips with his diagnosis, whispers at a holiday party related that one of our favorite neighbors had also been diagnosed with Parkinson’s Disease. He is 60. Last week, while attending a seminar, I ran into an insurance colleague who I haven’t seen in 10 years and he mentioned that he too has Parkinson’s. He is 59. These ages are all the norm for the onset of PD.

According to the Parkinson’s Disease Foundation, there are 1 million Americans who have PD, with men more than 1½ times more likely to have PD than women.

My brother in law and our neighbor are both divorced with no children. I had discussed long-term care insurance (LTCi) with each of them 10 years ago, 5 years ago, and even 1 year ago. Here’s the gist of our most recent conversation: “I’m asking this, but I already know what you’re going to say. It’s too late to purchase a policy – right?” Unfortunately, the answer is always: “Yes, it’s too late.” With the work that I do, more and more people are asking me that same question, and the only answer that I have is: “Yes, it’s too late.”

Dread diseases such as: Parkinson’s, Muscular Dystrophy, MS, ALS, and early onset Alzheimer’s, are rearing their ugly heads younger and younger. Your clients don’t have to have a family history with any of these to be hit. Encourage your clients to consider LTCi around the time they turn 50; waiting until they are in their 60’s can be risky business these days in LTCi land!

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Same Old Story

TX Nursing Home Employees Quitting to Work at McDonald’s

Costs and Incidence of Long-Term Care

The Importance of Planning for Long-Term Care

You Can’t Insure A Barn Once It’s on Fire!

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