What you need to know about Alzheimer's

Key Facts about Alzheimer's

The number of Americans with Alzheimer's is projected to rise by 55% by 2030, and by 2050 the Alzheimer's Association estimates the total number could explode to nearly 14 million.

Alzheimer's is the 6th leading cause of death in America, yet there is no cure, there are no survivors, no way to prevent it, and no way to slow it down.  It already exceeds the cost of cancer and heart disease, yet very little is being spent on research.  For the first time, the NIH increased the investment in Alzheimer's research in 2016.  There are 80 drugs currently in development.

Since 1990, the number of cases has increased by 71%.  In Florida alone, there are 500,000 people with Alzheimer's and the expenditures for Alzheimer's has increased by 600% since 2006. They actually have a waiting list for Medicaid in Florida with some people waiting up to 5 years.

We offer people one of the few planning tools designed specifically to address the threat of Alzheimer's and other conditions that arise as we age and become frail.  You can reach us at lucy@altavistaben.com or 614-889-0934.

For a detailed look at the Alzheimer's video,  visit:

http://www.tpt.org/alzheimers-every-minute-counts/video/alzheimers-every-minute-counts-every-minute-counts/

How Long Term Care Affects Women

How Long Term Care affects Women

Long-term care is an issue directly concerning many women-and therefore directly affecting their employers. More than 75% of unpaid care-givers in the U.S. are women. In addition, women represent 75% of residents in assisted living communities and 80% of Nursing home residents. This makes it clear that the need for extended care affects women greatly.

It has been said that long-term care needs hit women twice; first in providing care to parents or other loved ones, and then later in life when women need long term care for themselves. Informal care-giving responsibilities fall more heavily on women, many of whom are older women with health problems of their own. 

Care-giving responsibilities come with economic costs. Among working caregivers who had to make a work adjustment due to care-giving responsibilities, one study estimates an average of $659,000 in lost wages, lost social security, and pension contributions over a lifetime.

However, the cost is not solely economic. 44% of female caregivers report high levels of physical strain and emotional stress as a result of care-giving. 

It is important for women to plan for changes in their health over time, not only as a care-taker but in the event that their health changes and they need assistance to take care of themselves.   For more information about the options available to plan for this coverage, contact Lucy Grosz at 614-88-0934.

Does Medicare or Medicaid pay for Long Term Care?

Many people confuse Medicare with Medicaid and assume they will be covered for long term care by Medicare.  Medicare, which is the Federal program, only pays for skilled care when there is a diagnosis that you will get better.  It typically occurs after a hospital stays and is limited to a maximum of 100 days.

Most long term care is custodial care, not skilled care and occurs for months and even years.  In a recent poll, 34% of the people surveyed thought Medicare would pay for ongoing nursing home care and 36% for ongoing home care. If people understood that Medicare isn’t going to pay for their long term care and they were going to end up paying for it themselves until they spent most of their life savings and qualified for Medicaid, many of them would be willing to purchase long term care insurance.Alta Vista Benefits

Why plan for long term care?

No one wants to think about needing long term care – but it IS a possibility.  Look across the table at your husband or wife.  Do you realize that one of  you will probably need long term care and the other one will do the caring?  What will be the consequences to them? Did you also know that no health insurance, not even Medicare, covers long term care services?

We specialize in long term planning and have been helping clients since 2008.  If you want to be sure to get the care you prefer, it is so important to do the planning before the care is needed. Doesn't it make sense since this is not covered by health insurance?

Long term care planning is about more than just finances.  It is about making sure that you or your spouse is taken care of when they can no longer take care of themselves. This can happen at any age due to an accident or illness, or be part of the aging process. Once you have a written plan, you have the peace of mind that your future care is well thought out and you have funded your plan.  Without this, the expense of care can have devastating emotional consequences to your family and can easily wipe out your retirement savings. 

Call 614-889-0934 today to learn more.