long-term care Archives - Page 4 of 12 - Long Term Care Insurance Expert | Honey Leveen

Women Do Their Best to Bridge Long-Term Care Chasm

February 1, 2017 by Honey 2 Comments

This past week we saw two articles about the impending long-term care crisis.

The first was in the January 25, 2017 New York Times titled, “Why Women Quit Working: It’s Not for the Reasons Men Do“. In the US, job qualified, many competent women are dropping out of the US workforce to become caregivers. The rates are higher than in any other first world country. “This “care chasm” would seem to explain the stark contrast between working women in the United States and in other advanced industrialized countries with comprehensive family support policies. In most European nations, for example, women’s labor force participation has increased significantly since 2000 instead of faltering.”

I’ve done prior blogs about why our long-term care payment system creates a cycle poverty. These blogs tie in well with the second article.

The second article appeared in the January 28, 2017 Houston Chronicle. It’s titled There’s A Huge imbalance in How Texas Provides for its Old People. This article profiles the unusual, disproportionately Hispanic, low income citizens of Brownsville, TX.

Being a caregiver in Brownsville is a very common job. Brownsville is unique in this regard. If you don’t live in Brownsville, however, you are less likely to find reasonable, high caliber caregivers unless you can afford to pay adequately for your long-term care.

Is long-term care insurance (LTCi) worth it? Does long-term care insurance pay for home care, assisted living, adult day care and nursing homes? Yes. Anyone interested in LTCi rates should contact me. I will be happy to quote long-term care insurance rates at no obligation.

Happy Long-Term Care Awareness Month!

November 2, 2016 by Honey Leave a Comment

November is National Long-Term Care Awareness Month (LTCAM). The US Congress created LTCAM so that people would learn more about how hight long term care insurance costs can be.

LTCAM is well recognized by a number of Governors, including Rick Perry and George W. Bush. Houston’s own Mayors Bill White and Annise Parker have issued LTCAM proclamations.

Local, state and national governments recognize how unprepared citizens are. When it comes to being able to afford often catastrophically expensive long-term care (LTC) costs, many of us are unprepared. Our government will not be able to adequately bear the costs of providing LTC. Long term care insurance costs are often a fraction of actual long term care costs.

Does Medicare pay for long-term care? No! Not type of care most Americans need. When long term care lasts for more than a short time, costs can be catastrophic. How much does long term care cost? Visit the Cost of Care Calculator at www.Genworth.com to find out.

The purpose of LTCAM is to raise awareness of the need to plan responsibly for LTC, right now! This is the very best way to ensure dignity, options, access and choices if LTC is necessary.

Unfortunately, the odds of needing LTC are high. You protect against other risks, like a car accident or house fire. The need for LTC is more likely than a house fire or car accident. LTC often costs more than a car or a house. If you’re not prepared, a lengthy LTC need puts your savings and retirement, and family at risk.

Just as it is smart to plan ahead for retirement, it’s smart to plan now for long-term care.

Please check the Resources page of my site for comprehensive, reputable information on LTC.

If you haven’t yet planned for your LTC, I urge you to do so.

You are Not as Financially Smart as You Think You Are

August 9, 2016 by Honey Leave a Comment

The name of the New York Times article is “What You Think You Know About Money, but Don’t, Can Hurt You”. I prefer to be more blunt: You are not as financially smart as you think you are.

The Finra Investment Foundation does a long-term, ongoing study on the public’s financial literacy. The 2016 study has just been released.

People are far more financially vulnerable than they believe they are. Fewer people got the answers the same five questions correct this year; this is a continued trend. Conversely, 76% of subjects gave themselves a “very high” rating on financial knowledge. This percentage continues to increase.

I have no idea whether these trends correlate to increasing income inequality, decreasing educational levels or overall hard times.

This behavior correlates well with the denial I’ve faced for over 25 years. When I ask people with good jobs and lots to lose, who know me, who like me, who recognize my competence, ethics and sincerity, whether they’ll have a conversation with me about long-term care planning odds and options, my invitation is usually declined.

The Finra study proves to me that we are going to have millions upon millions of people who need long-term care and are woefully unprepared for it. Because of this, many people will suffer unnecessary loss of dignity, family discord and sacrifice, and financial ruin.

One in Five Nursing Home Residents Report Abuse

June 20, 2016 by Honey Leave a Comment

A new study reports one in five – or about 20% of nursing home residents – have experienced at least one resident-to-resident abusive event.

This is a conundrum brought about by abysmally low pay to nursing home caregivers, and by Medicaid reimbursement rates so low it is difficult for nursing homes to stay in the black. The majority of nursing home residents are covered by Medicaid.

Here’s a blog I wrote showing nursing home workers are quitting to work at McDonald’s, where they get paid more and don’t have to mess with bedpans or possible back injuries.

The article mentions the double homicide at a nursing home not far from here. Here is a series of blogs I did about this event.

If you want to greatly increase the odds you will not wind up in a nursing home, you need to own long-term care insurance (LTCi). Most LTCi policyholders are able to remain at home or move to an assisted living facility, instead of a nursing home. The evidence is in a recent AHIP study sited here; ask and I will email the complete study to you.

Late in Life Decisions Are Often Impaired

June 6, 2016 by Honey Leave a Comment

Sumner Redstone, center, at a 2012 charity event with, from left, Manuela Herzer and Sydney Holland, both ex-lovers who have figured in a battle over his care. Credit Brian to/WireImage

In what may be an “extreme example of the high stakes and chaos that can result, the Redstone pattern is happening in epidemic proportions,” reports a June 2 New York Times (NYT) article.

This article dovetails beautifully with my recent blog on the evidence proving why loss of cognitive speed, verve, and financial literacy is a normal part of aging.

Feuds between 93 year-year-old billionaire Sumner Redstone and his former mistress, estranged daughter, and former heir apparent have been graphically, publicly aired for the past few months.

The NYT article goes on to state that familial feuds like Mr. Redstone’s are becoming more prevalent due to Alzheimer’s and longer lifespans. The elderly are especially susceptible.

The article states that similar situations can often be averted by proper legal planning, with more explicit trust language. In addition, everyone should have and share extremely explicit personal, financial and medical directives, and of course, own long-term care insurance (LTCi).

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Women Do Their Best to Bridge Long-Term Care Chasm

Happy Long-Term Care Awareness Month!

You are Not as Financially Smart as You Think You Are

One in Five Nursing Home Residents Report Abuse

Late in Life Decisions Are Often Impaired

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