Long Term Care Awareness Month

LTC Awareness Month >>>
Eight Things People Should Know

*REPOST* Brought to you by: Mutual of Omaha

November is LTC Awareness Month – time again to devote your efforts to helping people understand the importance of planning for their future long-term care needs.

This can be challenging...especially for those who find it hard to see themselves needing help with the most basic daily activities, like bathing or dressing. Yet, taking accountability for their future care and planning for that day is something everyone should do.

Here are eight things they should consider when developing a plan for long-term care:

1. Planning for long-term care is important. Most people will tell you they plan to live a long life. But with age comes the need for help with some of the things they always did for themselves. According to the U.S. Department of Health and Human Services, 70 percent of people who reach age 65 will need LTC services at some point in their lives
2. LTC services are expensive. Mutual of Omaha’s cost-of-care survey revealed that just one year in a nursing home can cost nearly $80,000 (based on national averages). Home health care is less expensive, but people still can expect to pay over $36,000 per year on average for care they receive at home.
3. You can’t rely on Medicare. Many people mistakenly believe their LTC needs are already covered. In reality, Medicare only covers services for a short time – typically just long enough to help people get back on their feet after an illness or injury.
4. Medicaid isn’t for everyone. It’s true. Medicaid does cover LTC services. But it’s important to remember that Medicaid is a program for people with low incomes and limited resources. That may mean your clients would have to spend down their assets just to qualify. Not an attractive option for people who want to protect the assets they worked a lifetime to accumulate and leave a legacy for their children.
5. There’s a hidden cost to family caregivers. It’s easy to say, "My family will take care of me." But a spouse may not be physically able to provide all the care that’s needed. And children have their own family and career obligations. The fact is family caregivers frequently suffer from stress and illness themselves. Not to mention lost wages if they have to give up a job or reduce work hours.
6. The best time to start planning is now. How will you pay for the care you need? Where will you live? Who will take care of you? These are questions people need to ask themselves now while they’re young and in good health. The need for LTC services can arise at any time. Having a plan in place when that day comes can help alleviate the emotional strain many families face. It also can help ensure your clients get to make the important decisions about the care they receive and the setting they prefer.
7. The cost of waiting can be high. The ability to obtain an LTCi policy is based on age and good health. So it’s important for people to understand that if something happens to cause a change in their health status, they may not be able to purchase LTCi at any price.
8. Some coverage is better than none. Many people who think they can’t afford an LTCi policy neglect to consider what would happen if they didn’t have one. Without a policy to help pay the bills for LTC services, they may have to liquidate assets, sell stocks, dip into savings or retirement accounts or sell property to come up with the cash they need. Even a modest LTCi policy offers some protection for their important assets.

Read More @: http://www.mutualofomaha.com/yourchoice/tips-tools-training/article-eight-things-people-should-know.php

Who is Senior Benefit Services?

by: Amanda Westbrook, Marketing Manager | 9/29/16 | Senior Benefit Services, Blog, Life & Health Insurance  | www.sbsteam.net | 800.627.2768

"We are often asked as a company: "What makes you different?" Beyond many things we can list is the underlying fact that we DON'T work for one insurance company - we work for YOU." -David McNerney, Company President

Who is Senior Benefit Services?

Founded in 1975, Senior Benefit Services (formerly known as Barnes Insurance Group) has grown to become one of the largest senior benefit organizations in the nation. We're an Insurance Brokerage that specializes in the Life & Health Industry with a majority of our focus on the Senior Market and people aging onto Medicare (ages 65+). However, with our large portfolio of products readily available, we can also assist anyone in the family with their insurance needs. Our portfolio includes: Medicare Products, Life Insurance, Cancer Coverage, Long Term Care, Dental/Vision/Hearing, Investments & Annuities, and MORE.

What do we do?

We stated that we are an insurance brokerage - but what does that mean? It means that out of all of those top-rated companies that you are familiar with, and may even be insured with, that we represent over 50 of them! Yes, you read that correctly. When we sit down with our clients, we are able to lay out a wide range of over 50 companies with their corresponding portfolio of products, to help figure out which one works BEST for that persons' unique and individual needs. Nobody is the same when it comes to what type of coverage they require - even husband and wife differing at times - so it's very important that we do the research to a have full, comprehensive knowledge of what's out there. 

What else makes us unique? For starters, the average age of one of our independent agents is 25. Some may think that's "too young" or makes them "less knowledgeable." But think about these few things:  1. The insurance market, as I'm sure you're aware, is a constantly changing market place. Therefore, no matter if you've been in the industry for 2 years or 20 years, you can never stop learning or "know enough." 2. Adding on to that - as a brokerage we're constantly required to stay informed on trends and new products, as well as participate in continuing education on a regular basis. We're schooled, trained, and experienced to provide the best services nation-wide. 3. We're here to work with you FOR LIFE. Being the younger demographic that we are, we're able to grow with you, keep you updated each year, and always be the one you can trust when it comes to your decision making and planning. In other words, we're never going anywhere! Some final thoughts: Our services are truly one of a kind. Yes we sell insurance, but that's not our priority. There are over 40 Million seniors in the marketplace and an shockingly low average of around 1,000 agents in each state.  We sit down with too many people that have been taken advantage of, haven't seen their agent for years, or have simply been lost alone in the sea of all this information. We offer our services at no cost to you, so let us come sit down with you and start planning.

We're just one phone call away: 800-627-2768

Visit us Online at: www.sbsteam.net

Short-Term Care Policies on the Rise

United National Life


*Re-post*
Check out this Forbes article regarding Short Term Care policies ...  Medicare only covers nursing home stays under very specific circumstances... 

Alzheimers: A defining disease for aging baby boomers

Alzheimers: A defining disease for aging baby boomers

*Repost Brought to you by: Aetna

Alzheimer’s disease is the sixth leading cause of death in the United States, killing more than 93,000 people each year. The progressive and fatal brain disorder causes issues with memory, thinking and behavior. Currently without a cure, Alzheimer’s has a good chance of being one of the defining diseases for Baby Boomers as they age.

Age is the greatest risk factor for Alzheimer’s disease. Once someone reaches 65, their risk of developing the disease significantly increases. An estimated one in eight baby boomers will get the disease after they turn 65. At age 85, that risk increases to nearly one in two.

The disease currently affects more than 5 million Americans, according to the Alzheimer’s Association. By 2040, when the Baby Boomer generation will be from 76 to 94 years old, Medicare costs related to Alzheimer’s are projected to account for more than 24 percent of total Medicare spending, or about $328 billion in 2014 dollars, recent analysis has shown.

Alzheimer’s is a family matter

It’s not just the person with Alzheimer’s that suffers, the caregivers — typically family and friends — often take the brunt of the disease. It is particularly hard because Alzheimer’s robs a person of their memories and independence, leading to a steady increase in the need for monitoring.

In 2015, 15.9 million family and friends provided 18.1 billion hours of unpaid care to those with Alzheimer’s and other dementias, according to the Alzheimer’s Association.

Nearly 60 percent of Alzheimer’s and dementia caregivers rate the emotional stress of caregiving as high or very high; about 40 percent suffer from depression.

A majority of caregivers report they are “somewhat” to “very” concerned about maintaining their own health since becoming a caregiver. One in five care contributors cut back on their own doctor visits because of their care responsibilities. Most people survive an average of four to six years after being diagnosed, but many can live for as long as 20 years with the disease.

Family members and friends providing care for someone (other than their children) have to squeeze in an average of more than 24 hours a week to take care of their loved one, according to AARP research. Caregiving is particularly time-intensive for those caring for a spouse or partner, which requires an average of 44 hours a week. That doesn’t leave much time for any of the other priorities you might have in your life. A good game plan can help get things under control.

Where can you find help for Alzheimer’s?

Non-profits like the Alzheimer’s Association and the Alzheimer’s Foundation of America offer good information on resources and support networks for patients and families. You can also search by zip code and/or state to find area resources.

----------------------------------------------------------------------------------------------------------

From the Desk of SBS:

As you read above, "1 in 8 Baby Boomers are susceptible to acquiring Alzheimer's and that increases to 1 in 2 around the age of 85. Along with that, care-giving for this disease requires an average of 44 hours a week." If this were to happen in your family, what would your game plan be? 

Senior Benefit Services has representatives all over the U.S. that would love to sit down with you to help you start planning. We are a brokerage that represents many reputable companies (such as above) and we offer a variety of insurance plans including: 

• Long Term Care
• Short Term Care
• Home Health Care
• Nursing Home Care

When something such as Alzheimer's arises in your life, we want your biggest worry to be enjoying those precious moments with your family - not worrying about the financial side of it.  
We're just one phone call away: 800-627-2768
Visit us Online at: www.sbsteam.net