Home Care Costs Increased over 14% March 2023 to March 2024!!!
Preparing For Tomorrow podcast
If we want to make sure we can stay home when long term care is needed, we need a plan. We need to afford the care we want. If costs of care continue to increase every year like they have been, this is not something most of us will self-fund without bankrupting ourselves or destroying family relationships. The first thing we need to do is admit that we'll probably need help living at some point. Bill Comfort with Certification for Long Term Care says, "If we don't die, wil live long lives. If we live long lives, we get old. And when we get old, we need help living." We need...
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How can I be sure the insurance company will keep their promise to pay?
Preparing For Tomorrow podcast
In other words, why shoud I trust the insurance company? All insurance companies, and especially LTC companies are heavily regulated and watched closely by all 50 states. States monitor complaints to ensure compliance. Regulators work with the consumer and company to assist with payments. Often, regulators explain to consumers why a claim isn't being paid and advise the consumer what they need to do to complete the claim requirements. Listen and learn how may ways the Elimination Period is defined by different companies. It's no wonder we get confused and frustrated. All the...
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Where is the urgency?
Preparing For Tomorrow podcast
We live in an "I want it now" culture except when it comes to planning for extended care needs. Why do we feel the need to wait as long as we can to consider and design our LTC plans? Once someone learns that there is a need for LTC insurance in some form, it takes 5-7 years on average for that person to contact someone who can help them purchase coverage. I get that we don't want to plan for when something bad happens like we get dementia, have a stroke or need help getting through each day. But these things happen whether we are prepared for them or not. We will receive...
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How can I be sure I can live at home no matter what happens to me?
Preparing For Tomorrow podcast
This week, Diana wants to know what she needs to do to be sure she can live out the rest of her life in her owm home. I know we're all asking this question, because we want to stay home no matter what as well. That really depends on how much support and assistance we can rely on from our family. Do they live nearby? If they say they will help us, are they actually able to do so? If we own LTC insurance, how many hours of care will the benefits cover? If it's not enough for 24/7 care, how will the family be able to support us around the insurance paid hours? ...
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Is the LTC plan my company is offering the same as one I can buy on my own?
Preparing For Tomorrow podcast
Employers are seeing their employees reducing hours or leaving work to care for parents, spouses and other family members. They're searching for strategies to help keep employees at work.. Group LTC plans are again becoming popular, and they look different than they did in yesteryear. Listen and learn what is available as an LTC worksite solution. If you own a business or you are an employee of a business and want your employer to consider group LTC, contact me for information Schedule 30 minutes with me to inquire
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Questions we can't answer today need to be addressed anyway
Preparing For Tomorrow podcast
In last week's episode, Diane shared a boatlod of questions we need ot be asking when planning for extended care needs (LTC needs). This week we cover the questions that can't be answered until that need invades our family. Although, we may not know what, when, where, or how long , we still need to plan early so we can be prepared for whatever happens. How can we do this? Listen, learn, and schedule a meeting to discuss planning alternatives. My calendar: Email me to receive a planning guide
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The LTC plan everyone needs - with or without insurance
Preparing For Tomorrow podcast
Long term care planning is about more than the insurance or funding for care. This week, Diane shares important questions we and our families need to be asking today. Regardless of where you will live, who do you want helping you? Do they know this? Are they able to do what you need? What do you want to have happen when extended care is needed? Where do you want to live? It's much easier to have these discussions today, while you're not in the middle of a crisis. Have the conversations now so your family and loved ones will have a blueprint of what you have and...
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Rate increases are the elephant in the room
Preparing For Tomorrow podcast
This week, Mark asked if he can expect his traditional LTC premium to double every 12 years. Many older traditional LTC policies were priced inaccurately and are now receiving increases to match today's expected risk. Listen and learn what has changed since these policies were offered. Learn how the regulators and the insurers are working to keep rates more stable. Learn what you can do to secure a plan that is guaranteed to never have a rate increase as long as you live. Learn why it's wiser to start planning at younger ages, even in our 30s. When you're ready to start working on...
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Baseball and Long Term Care - What league are you in?
Preparing For Tomorrow podcast
It's February and spring training season in Florida. Listen to Diane compare different types of planning strategies to the A, AA, AAA minor leagues and to Major league Baseball. Different levels of plans can be designed to meet each family's unique needs and budget. Just like in baseball, we need to Prepare today to be ready for a strong season, carry the playoffs and make it to the World Series of long term care. I can't say that needing extended care is like winning the World Series. I can say that when we plan early, and do the work it takes to Prepare for Tomorrow, our whole...
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What happens at claim time?
Preparing For Tomorrow podcast
I have four clients opening LTC claims this week. Three are for memory care, and one is for hospice care for teminal cancer. All are women in their early 70s. I wish no one ever needed to use the LTC plans we've developed, but I am so glad that I have answers and can assist when their family memebers ask for help and guidance. All of these women were in great health when they bought their plans, most over 10 years ago and one in 2020. One claim was declined, and I'll share why in this episode. I brought in Amada Senior Care to help get thr decline...
info_outlineI have four clients opening LTC claims this week. Three are for memory care, and one is for hospice care for teminal cancer.
All are women in their early 70s.
I wish no one ever needed to use the LTC plans we've developed, but I am so glad that I have answers and can assist when their family memebers ask for help and guidance. All of these women were in great health when they bought their plans, most over 10 years ago and one in 2020.
One claim was declined, and I'll share why in this episode. I brought in Amada Senior Care to help get thr decline overturned. Amada is a home care agency, and they are very detail oriented when helping people with claims, even if the claim is for care communities away from home.
If you need help with LTC claim, reach out the them at https://www.amadaseniorcare.com/
If you need home care services, Amada's caregivers are top notch!!!
When you're ready to design your LTC plan, schedule with me at https://calendly.com/diane-p4t/60min and we'll get to work to protect you, your family, your savings, and your choices when care is needed.