70 percent will need long term care

[All4Christ]

Some places here are upwards of $500 a day - and these aren’t luxury facilities. That’s about $15000 a month!

 

[bèlla]

True. The article mentioned $12K as the starting point with many beginning at $20K. That was two years ago. Its probably higher now.

 

[Redwingfan9]

That’s true. Many don’t factor in the familial and financial responsibilities their children have. This is something you plan for in their youth to allow the resources to grow and mature.

Assisted living has become a lucrative market and dementia facilities are on rise. I saw an article about a luxury facility being built in New York. There’s an obvious need across all socioeconomic levels.

There’s a disparity of hands in relation to the aging population were moving towards. I don’t know how it will turn out.

I don't think many of the yuppie baby boomers are going to be willing to put up with the subpar facilities that their parents put up with. At least not the ones who are of sound mind. They're going to want everything first class, from the food and decor to the care itself. I think that's going to strain the system in that private facilities are going to cater hard to the big dollar boomers at the expense of middle range facilities. I assume Medicaid facilities will remain the same. There's opportunity for the church here, hopefully it takes advantage.

 

[bèlla]

I don't think many of the yuppie baby boomers are going to be willing to put up with the subpar facilities that their parents put up with. At least not the ones who are of sound mind. They're going to want everything first class, from the food and decor to the care itself. I think that's going to strain the system in that private facilities are going to cater hard to the big dollar boomers at the expense of middle range facilities. I assume Medicaid facilities will remain the same. There's opportunity for the church here, hopefully it takes advantage.

They’re already catering to that demographic. Boutique health plans and executive care was designed with them in mind. I wish Christians were wiser about money.

 

[MitchW]

Old age is a disaster for most folks. I am age 84 and my son and brother broke off completely with me. My daughter lives across the street and only speaks to me once per week on the telephone and visits once every 2 weeks. Only my wife stands by me and she is age 80.

Two doctors abused my feet and one technician abused my eyes. I just lost 70% of vision in my right eye and had to undergo ultrasonic tests of my carotid arteries. I can barely walk, stand or see.

I do have a Living Will and Advanced Directives which allow me to refuse all treatment including food and water.

Swiss doctors offer some folks an easy Exit but for me it is just too distant to travel.

My only hope:

I accept the Will of God. Many things about tomorrow I don't seem to understand, but I know who holds tomorrow and I know who holds my hand. I just live from day to day while Jesus leads the way. My heart is with Him on the Throne, and ill can brook delay, each moment listening for the voice, "Rise up and come away."

 

[Newtheran]

"An estimated 70% of people currently turning 65 will require long-term care in their lifetime, and they will receive care for an average of 3 years."

I know we can pray to be healthy into old age
statistically, we may be one of the 70% needing care

as a Christian, how do we plan for aging needs?

Well, saving and buying appropriate forms of insurance are there. Living near family that you get along with and can trust to take care of you is another plus.

Congregations can form an elder care ministry where lawns get mowed, houses cleaned, rides are given to doctors appointments etc.

 

[dqhall]

"An estimated 70% of people currently turning 65 will require long-term care in their lifetime, and they will receive care for an average of 3 years."

I know we can pray to be healthy into old age
statistically, we may be one of the 70% needing care


as a Christian, how do we plan for aging needs?

My mother has vascular dementia. The arteries feeding her brain are damaged, she has lost brain

I agree with @nanookadenord .

Dementia in all forms is a horrible disease and eventually it often gets to the point that full time skilled care is needed. It is extremely difficult to see it happening to family members, as we’ve seen first hand with my grandma (right now).

Prayers for you all, both @christine40 with the stroke and @nanookadenord with the Alzheimers.

Vascular dementia is the result of strokes, hardening of the arteries, clogged arteries etc. Good diet and exercise may lower the risk of being afflicted by dementia. My mother has dementia and can no longer walk. She spoke little. She was being cared for at home with a home health care worker assisting dad eight hours a day until dad had a stroke. Mom is in a skilled nursing facility. Dad regained enough memory after his stroke to be put in an assisted living facility. He can not do independent living. My brother has a durable power of attorney written by dad before his stroke. He took over their assets on their behalf and decided on where they should go. Some nursing homes charge over $100k per year.

 

[Grip Docility]

"An estimated 70% of people currently turning 65 will require long-term care in their lifetime, and they will receive care for an average of 3 years."

I know we can pray to be healthy into old age
statistically, we may be one of the 70% needing care


as a Christian, how do we plan for aging needs?

We need to get hot and figure out how to help that 70% of adults that are struggling. If we can't figure out how to help them, we're doomed.

 

[bèlla]

We need to get hot and figure out how to help that 70% of adults that are struggling. If we can't figure out how to help them, we're doomed.

Who needs to get hot?

 

[Ronald]

"An estimated 70% of people currently turning 65 will require long-term care in their lifetime, and they will receive care for an average of 3 years."

I know we can pray to be healthy into old age
statistically, we may be one of the 70% needing care


as a Christian, how do we plan for aging needs?

People could almost entirely eliminate doctors, hospitals and Big PHARMA if they would only eat wholesome foods, preferably organic, drink alkaline water, CUT SUGAR (all forms), foods with a along list of ingredients (most processed food down every aile), with loads of sugar, salt, preservatives, artificial ingredients, keep your weight down, exercise, etc.
I am 63 and been to the doctors maybe 6 times (usually to prescribe am antibiotic) in the last 40 years. My mother is 86 and has avoided doctors and pharmaceuticals all her life because we eat right and take supplements as well.
There are many natural cures out there.
If people are smart, we could empty the hospitals and bankrupt BIG PHARM.
$2 trillion/year (about 10% of our GNP) is ridiculous.
But people just want to put anything in their mouth without looking at the ingredients - thinking it's all good, trusting the FDA and then wonder why they are sick. Just cutting sugar alone would lower the costs. Bacteria, viruses and cancer feed on sugar. When is the last time you were sick and the doctors told you to avoid sugar?
Smarten up folks.

 

[All4Christ]

A healthy lifestyle can make a world of a difference. However, it does not solve every problem. While we still live in this fallen world, sickness, death and corruption will always be here. I also know people who were never very healthy who live with no health issues their entire life - even into their 100s!

People on the internet do not know the situation of every person; considering that, we shouldn’t tell people that their family is suffering from diseases because they didn’t live their life properly. They don’t have an idea of how others lived their lives, and we should support people who are in times of need.

 

[mama2one]

Some places here are upwards of $500 a day - and these aren’t luxury facilities. That’s about $15000 a month!

yes, we live in a lower cost state yet...
a relative checked out some places and they're all about $100,000/yr!

 

[mama2one]

even though Dr said our relative can't return home after rehab, looks like they're going to allow it

relative in charge told Dr places are too expensive

but in-home care is costly, also
plus caregivers are not reliable and call off

 

[All4Christ]

even though Dr said our relative can't return home after rehab, looks like they're going to allow it

relative in charge told Dr places are too expensive

but in-home care is costly, also
plus caregivers are not reliable and call off

We were going to use in home care since she was supposed to get VA assistance (it wasn’t affordable without help, even with our family helping a lot), but they said it would be minimum a year waiting for expedited processing! She’s 97 and the dementia was getting much worse, so waiting a year didn’t work for us.

I hope your home care works out well! If you get the right person, they can be extremely helpful to making in-home care work. Home care was very helpful for my grandpa (on the other side) after his stroke.

 

[MitchW]

If you are Terminal (estimate of 6 months or less to live), Hospice can send in nurses to care for the patient and Medicare pays the entire tab. Visiting Nurses also paid by Medicare can also be used.

I had Hospice care from Oct. 18, 2018, to Nov. 3, 2018 and then had Visiting Nurses for Jan. and Feb. 2019. Not even my private insurance had to pay anything. Medicare handled it all.

If the patient is competent or has surrogates, who are competent, and the patient has a Living Will and Advanced Directives, then all treatment including food and water can be refused even if on an IV and feeding tube.

In the end it's best to rely on Christ and use all legal means to reduce suffering.

 

[SPF]

"An estimated 70% of people currently turning 65 will require long-term care in their lifetime, and they will receive care for an average of 3 years."

I know we can pray to be healthy into old age
statistically, we may be one of the 70% needing care


as a Christian, how do we plan for aging needs?

Among a number of designations I hold, one of them is the CLTC designation. It is true that 70% of people today will qualify for needing Long Term Care support.

The statistics are based upon LTC insurance, and what the triggering factors are that would qualify a person for LTC benefits.

The first is severe cognitive impairment. People with Alzheimers or dementia related impairments are one group. The second group fall under an inability to perform 2 out of 6 Activities of Daily Living, or ADLs. I always tell people to think of what they do typically within the first hour of waking up. the ADLs are:

• Eating.
• Bathing.
• Dressing.
• Toileting (being able to get on and off the toilet and perform personal hygiene functions)
• Transferring (being able to get in and out of bed or a chair without assistance)
• Continence (being able to control bladder and bowel functions)

If a person needs assistance with any 2 of the above, then they qualify for LTC benefits. The truth then is that currently, barring any sort of medical breakthrough - 70% of people are going to be in a position to which they would qualify for LTC benefits.

To go deeper into the statistic, 50% of people who qualify for LTC only last about a year. The other 50%, those that make it past a year, actually average 4 years. Those lengths are longer if we're talking cognitive impairment.

if you have a stroke and have to go into a long term care facility and don't have enough for it (costs about 7,000/month), then going on Medicaid may happen

Genworth has recently exited the LTC market, but they still have some really great information that I always recommend financial advisors review when calculating LTC expenses with their clients (no, I don't work for Genworth). Check out this site:

Cost of Long Term Care by State | 2018 Cost of Care Report | Genworth

You can look up your area and see what the average cost of LTC is.

I know my mom has emphatically stated that I am to take care of her and she is not to go into a nursing home. However, she is also showing signs of Alzheimer's and while I am an EMT, there will come a time when even my ability to care for her will be limited due to the disease.

I would have to put her in a nursing home. There comes a time when you are given no other choice with this illness.

I'm actually sorry to hear that. I'm sure you're close to your mom and you love your mom, but caring for people who need LTC, especially when we're talking cognitive impairment can be a full time job. And you have a job. It's honestly not realistic many times for family to be expected to provide the proper care that they're parents or grandparents need.

I agree it's complicated all the way around. My point was simply that the more money you have socked away for retirement the less likely it is that you will have to depend on others, particularly your children. There are obviously lots of complicating factors and varying situations. There's no one size fits all solution when and if long term care is needed.

Personally, I think if you're going to be serious about planning for LTC, which all of us should be - then you need to look at LTC Insurance. Self-Funding is almost never as economical as getting a LTC policy. And there are different ways to fund for a potential LTC event. There is traditional LTC policies, there are hybrid life/LTC policies, there are Life policies with LTC riders, and there are even tax qualified annuity options.

 

[dqhall]

Among a number of designations I hold, one of them is the CLTC designation. It is true that 70% of people today will qualify for needing Long Term Care support.

The statistics are based upon LTC insurance, and what the triggering factors are that would qualify a person for LTC benefits.

The first is severe cognitive impairment. People with Alzheimers or dementia related impairments are one group. The second group fall under an inability to perform 2 out of 6 Activities of Daily Living, or ADLs. I always tell people to think of what they do typically within the first hour of waking up. the ADLs are:

• Eating.
• Bathing.
• Dressing.
• Toileting (being able to get on and off the toilet and perform personal hygiene functions)
• Transferring (being able to get in and out of bed or a chair without assistance)
• Continence (being able to control bladder and bowel functions)

If a person needs assistance with any 2 of the above, then they qualify for LTC benefits. The truth then is that currently, barring any sort of medical breakthrough - 70% of people are going to be in a position to which they would qualify for LTC benefits.

To go deeper into the statistic, 50% of people who qualify for LTC only last about a year. The other 50%, those that make it past a year, actually average 4 years. Those lengths are longer if we're talking cognitive impairment.

Genworth has recently exited the LTC market, but they still have some really great information that I always recommend financial advisors review when calculating LTC expenses with their clients (no, I don't work for Genworth). Check out this site:

Cost of Long Term Care by State | 2018 Cost of Care Report | Genworth

You can look up your area and see what the average cost of LTC is.

I'm actually sorry to hear that. I'm sure you're close to your mom and you love your mom, but caring for people who need LTC, especially when we're talking cognitive impairment can be a full time job. And you have a job. It's honestly not realistic many times for family to be expected to provide the proper care that they're parents or grandparents need.

Personally, I think if you're going to be serious about planning for LTC, which all of us should be - then you need to look at LTC Insurance. Self-Funding is almost never as economical as getting a LTC policy. And there are different ways to fund for a potential LTC event. There is traditional LTC policies, there are hybrid life/LTC policies, there are Life policies with LTC riders, and there are even tax qualified annuity options.

My parents’ long term care insurance only covers part of their expenses. My aunt’s family tried to keep my uncle on life support in a coma too long and lost a fortune. She had to move in with her eldest daughter. You may need a living will to prevent them from using a feeding tube to keep you alive in a semi-vegetative state. My dad asked me to have a lawyer write one for myself. I studied nutrition with urgency to try to avoid dementia. Learning the Gospels helped with my prayer life.

 

[SPF]

My parents’ long term care insurance only covers part of their expenses. My aunt’s family tried to keep my uncle on life support in a coma too long and lost a fortune. She had to move in with her eldest daughter. You may need a living will to prevent them from using a feeding tube to keep you alive in a semi-vegetative state. My dad asked me to have a lawyer write one for myself. I studied nutrition with urgency to try to avoid dementia. Learning the Gospels helped with my prayer life.

There are many ways to design a LTC insurance product. Some people look to fully fund for a LTC event, some people look to partially fund. It is certainly important to sit down with a financial advisor that can help you with your finances and make recommendations about properly planning for potential LTC events so that you don't lose a fortune.

It's also important to have a living will in place because we just don't know what's going to happen, and if you are ever incapacitated, having something written with directives and a trusted person listed who can make decisions is necessary.

 

[dqhall]

There are many ways to design a LTC insurance product. Some people look to fully fund for a LTC event, some people look to partially fund. It is certainly important to sit down with a financial advisor that can help you with your finances and make recommendations about properly planning for potential LTC events so that you don't lose a fortune.

It's also important to have a living will in place because we just don't know what's going to happen, and if you are ever incapacitated, having something written with directives and a trusted person listed who can make decisions is necessary.

They have Genworth. I read Genworth has asked regulators for another rate increase. My brother chose an expensive skilled nursing home in order to be close enough to visit. Mom cannot feed herself and might lose the ability to open her mouth when queued as her disease progresses. They lift the spoon for her. Dad can find his way to a facility dining hall and back. I took him shopping and to lunch on the weekend. They may have saved enough, self insuring much of the expense. I met another care giver at the facility, the daughter of an 88 year old woman invalid since 81. She is Catholic and may be force feeding, I am not sure. Her mother does not seem to move at all. Not all long term care patients die within two years.

 

[MitchW]

Genworth has recently exited the LTC market, but they still have some really great information that I always recommend financial advisors review when calculating LTC expenses with their clients (no, I don't work for Genworth).

I have Genworth LTC policies for my wife and myself. They even pay for home care as well as nursing homes. So far I have not tapped into them.

I've always expected to go directly from normal health to death. I never really thought about being incapacitated for years. Even refusal of treatment including food and hydration takes competence and alertness. Dementia could end those possibilities.

I was in Hospice for 3 weeks last fall and am trying to find out why they first thought I was terminal and then changed their mind. I still have sharply reduced mobility due to those two assaults on my feet and the one assault on my eyes.