1. Organize your Parents' Finances
To pay for your parents' eldercare, it is important to know what financial resources are available to them and you. The amount of financial resources a parent has goes a long way toward determining the quality of care your loved one will receive, if needed. A good first step is to identify your parents' assets and income sources, including Social Security and retirement funds. Identify important documents that will be necessary in the event of an emergency health situation. Additionally, choose a point person, whether it be a family member, friend, or trusted confidant who can access these documents when such an emergency occurs.
2. Plan Ahead for Legal Issues
Although these conversations can be difficult, it is important to discuss creating a will and appointing a durable power of attorney. A will directs how medical professionals will deliver care if your loved one is unable to make choices for himself/herself. Additionally, it decides how property will be distributed after death. A will can alleviate many unnecessary headaches. A durable power of attorney is a person, not necessarily an attorney, who handles specific health or financial needs and can make important decisions if a loved one is unable to do so.
3. Explore Insurance Options
It is important to know that one cannot rely on Medicare or Medicaid to pay for health problems in the golden years. Medicare only pays for certain services, and Medicaid only covers people who qualify as low-income individuals. Long-term care insurance can pay for many elder health problems. Common to all plans is that premiums are higher when the person applying is older, so it is important to look at prices when your parents hit their early fifties. Also, since there are a lot of companies offering policies, it is important to shop around and look at which one caters to your parents' individual needs the best.
If you have any other tips you want to share from personal experience, feel free to comment below!
Thursday, January 27, 2011
Tuesday, January 25, 2011
Meditation and its Many Benefits
Often, I go to yoga classes for exercise. At the end, my teacher always puts on some soft and peaceful music, does a bit of guided meditation and talks about the importance of living in the moment. I always leave feeling relaxed. Today, I was reading HuffingtonPost.com, and I came across this article: http://www.sciencedaily.com/releases/2011/01/110121144007.htm. Clearly, meditation leads to wide-ranging health benefits: increased concentration, a higher capacity for learning, improved memory, self-awareness, and introspection, and reducing stress and anxiety.
A while ago, I spoke to one of my sons, who took a Buddhism class in college and learned to meditate. I asked him to teach me how to meditate, and while I thought it would be quite daunting to learn, it actually was not too difficult. I am no Zen master, and I do not meditate every day, but I try to do it a few times a week. When doing it, I find a quiet space in my home where I know I will not be distracted by noise or family. I sit down on a flat surface and cross my legs, making sure to keep my spine in an upright position, and I fold my hands and place them in my lap. There are many ways to meditate, but a common theme to all of them is the importance of breathing. To regulate my breathing, I count up to ten. I inhale on the odd numbers and exhale on the even numbers. One (inhale). Two (exhale). Three (inhale). Four (exhale). When I reach ten, I count downwards to one, inhaling on the even numbers and exhaling on the odd ones. One thing I try to ensure is that I breathe from deep in my stomach, not from my chest. Doing so furthers my relaxation and enhances the practice. I try to focus on the counting, but sometimes my mind wanders and I will follow a train of thought and lose track of the numbers. When I notice this occuring, without any judgement regarding my wandering mind, I simply return back to the number one and restart my counting, focusing on my breathing. After I have finished meditating, I like to look back at the different things toward which my mind wandered. Examining these thought patterns helps me to better understand my thought processes and myself.
I recommend that anyone try meditating. Usually I do it for about twenty-five minutes, and it calms me. Reading the article posted above, I know the many positive health benefits it provides. I hope that you can find the time and inititiave to try mediation, and, as always, if you have any questions about it feel free to ask!
A while ago, I spoke to one of my sons, who took a Buddhism class in college and learned to meditate. I asked him to teach me how to meditate, and while I thought it would be quite daunting to learn, it actually was not too difficult. I am no Zen master, and I do not meditate every day, but I try to do it a few times a week. When doing it, I find a quiet space in my home where I know I will not be distracted by noise or family. I sit down on a flat surface and cross my legs, making sure to keep my spine in an upright position, and I fold my hands and place them in my lap. There are many ways to meditate, but a common theme to all of them is the importance of breathing. To regulate my breathing, I count up to ten. I inhale on the odd numbers and exhale on the even numbers. One (inhale). Two (exhale). Three (inhale). Four (exhale). When I reach ten, I count downwards to one, inhaling on the even numbers and exhaling on the odd ones. One thing I try to ensure is that I breathe from deep in my stomach, not from my chest. Doing so furthers my relaxation and enhances the practice. I try to focus on the counting, but sometimes my mind wanders and I will follow a train of thought and lose track of the numbers. When I notice this occuring, without any judgement regarding my wandering mind, I simply return back to the number one and restart my counting, focusing on my breathing. After I have finished meditating, I like to look back at the different things toward which my mind wandered. Examining these thought patterns helps me to better understand my thought processes and myself.
I recommend that anyone try meditating. Usually I do it for about twenty-five minutes, and it calms me. Reading the article posted above, I know the many positive health benefits it provides. I hope that you can find the time and inititiave to try mediation, and, as always, if you have any questions about it feel free to ask!
Thursday, January 20, 2011
Making the Right Long-Term Care Decisions
The world of long-term care insurance is changing. Late last year, MetLife decided that it would no longer provide long-term care insurance policies. Similarly, other large companies have decided to make changes in their offerings, including charging higher premiums. Because some of these large insurance companies are changing their products, many new companies are joining the long-term care insurance industry, and it is important for you to be a smart consumer.
One thing to keep in mind is that 70% of people over 65 will need long-term care. It is tempting to gamble and think you will not need this care, but the statistical odds are against you. When you look for a policy, do your homework, for there are a lot of different ones out there. Make sure you choose one that best fits your budget and your future wishes. Keep in mind that your health will always have a certain degree of unpredictablility. One thing to consider is at what age to buy the policy. The younger you are, the lower the premium you will pay, and since your health is probably better when younger, the odds of being denied coverage are much lower (companies deny applicants if they think they will cost too much).
One thing to also consider is the new healthcare bill signed last year by President Obama. The bill instituted the first national government-run long-term care insurance program, and benefits are offered exclusively through employers (with the exception of people eligible for Medicaid). Right now many in Congress are trying to repeal the bill, so some of the offerings may change. In closing, the most important thing to do when buying a long-term care policy is to do your homework. Get pricing quotes from different insurers, and make sure you are educated on different options. As always, if you have a question, feel free to ask!
One thing to keep in mind is that 70% of people over 65 will need long-term care. It is tempting to gamble and think you will not need this care, but the statistical odds are against you. When you look for a policy, do your homework, for there are a lot of different ones out there. Make sure you choose one that best fits your budget and your future wishes. Keep in mind that your health will always have a certain degree of unpredictablility. One thing to consider is at what age to buy the policy. The younger you are, the lower the premium you will pay, and since your health is probably better when younger, the odds of being denied coverage are much lower (companies deny applicants if they think they will cost too much).
One thing to also consider is the new healthcare bill signed last year by President Obama. The bill instituted the first national government-run long-term care insurance program, and benefits are offered exclusively through employers (with the exception of people eligible for Medicaid). Right now many in Congress are trying to repeal the bill, so some of the offerings may change. In closing, the most important thing to do when buying a long-term care policy is to do your homework. Get pricing quotes from different insurers, and make sure you are educated on different options. As always, if you have a question, feel free to ask!
Monday, January 17, 2011
A Primer on Long-Term Care Insurance
I often run into people who do not know much about long-term care insurance and the benefits it can provide. Here, I will give you an introduction to it in the hope that you can have a better understanding of it and can make more informed decisions in the future. In this space, my fellow bloggers and I will often discuss how you can make more informed decisions to save money and improve the care you or your loved one receive.
Long-term care insurance is purchased to cover the costs of long-term care services which are not covered by most health insurances, Medicare, or Medicaid. Pricing for policies depends on the wide array of care options and benefits you want to be covered by, and by the settings in which you want to receive this care. Pricing is also determined by your age and current health.
The long-term care insurance policy you buy will either have a benefit period or a lifetime benefit maximum. This lifetime benefit maximum will give you a maximum amount of time or dollars that your insurance company will cover. With all policies, you will pay an annual, pre-determined premium, which usually is waived when you start receiving benefits.
With most policies, you will start to receive benefits when you need help with activites of daily living or you need assistance because of a severe cognitive impairment. Such activities of daily living include dressing, bathing, eating, toileting, continence, transferring, and walking.
So that is a quick summary of how long-term care insurance functions. Please feel free to ask any questions you may have in the comments section, and I will be happy to answer them for you. Thanks!
Long-term care insurance is purchased to cover the costs of long-term care services which are not covered by most health insurances, Medicare, or Medicaid. Pricing for policies depends on the wide array of care options and benefits you want to be covered by, and by the settings in which you want to receive this care. Pricing is also determined by your age and current health.
The long-term care insurance policy you buy will either have a benefit period or a lifetime benefit maximum. This lifetime benefit maximum will give you a maximum amount of time or dollars that your insurance company will cover. With all policies, you will pay an annual, pre-determined premium, which usually is waived when you start receiving benefits.
With most policies, you will start to receive benefits when you need help with activites of daily living or you need assistance because of a severe cognitive impairment. Such activities of daily living include dressing, bathing, eating, toileting, continence, transferring, and walking.
So that is a quick summary of how long-term care insurance functions. Please feel free to ask any questions you may have in the comments section, and I will be happy to answer them for you. Thanks!
Monday, January 10, 2011
Introduction
Hello and thank you for coming to my blog. My name is Noreen Guanci, and I started this blog to write about issues surrounding elder care. I have been a registered nurse for almost thirty years, and founded the company Long Term Solutions (hence the blog name) twelve years ago along with Anne Harrington. In this space, I hope to share valuable information and provide insight into the complicated world of elder care, including topics on healthcare, long term care insurance, and how to increase well being. For example, caregiving has become a paramount issue in health care, yet one that often goes unaddressed. I served as a caregiver for my mother when she was very sick, and it was a very trying time for me and my family. Without my health care background, I do not know how I would have made many of the difficult decisions necessary for her to receive the best possible care. So, welcome to the blog, and I look forward to giving you the best possible advice.
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