Every May, the Administration for Community Living leads the national observance of Older Americans Month. The month-long celebration focuses on healthy aging strategies, addressing challenges to community living for older adults, strides in elder care research to improve medical support systems, and changing senior landscapes.

May is also a celebration of significant turns in legislation and science that have had an immediate impact on the quality of life for older Americans.

The Expansion of the SNAP program and the Older Americans Act to help alleviate the financial burden of aging and the risk of malnutrition.
National Anti-Aging Movement
Preventable Issues Drive

Healthy Aging Strategies

One of the most significant focuses of Older American’s Month 2019 was aging as healthily as possible. The science behind aging is reasonably conclusive when it comes to the causes of overall health degradation. Put as simply as possible, aging itself is a slow decline in health. Not taking the proper steps towards aging healthily substantially accelerates the whole process drastically by introducing everything from heart disease to diabetes. While many of the health challenges we face as we age are unavoidable and a natural part of the aging process, there are countless avoidable health debits that can be better managed by seniors. There is a laundry list of healthy living strategies, and trying to parse all of them out can be incredibly intimidating; for the sake of simplicity, a few are listed below.

Keep consistent track of blood pressure to maintain heart health
Start thinking about diet before any health issues arise
Practice preventative care
Exercise, exercise, exercise! You will thank yourself for it in the years to come
Maintain an uncluttered living space
Addressing Challenges to Community Living

The research on the positive health benefits of community is robust and conclusive. It is a fact that seniors, and any other humans really, benefit significantly from both a mental and physical health standpoint by participating in some form of community.

Contrary to popular belief, this doesn’t mean living in a senior home or giving up even a shred of independence. There are millions of healthy people participating in community events every day. Bake sales, volunteer work, staying active in your grandkids lives, even just getting out and doing the shopping. There are so many ways to get out and about with other people, and the benefits are numerous and undeniable.

The Connect aspect of Older American’s Month speaks on this point at length, with a particular focus on new prescriptions that began being offered this year. Doctors can now medically prescribe “Socialization” to seniors that are suffering from issues related to isolation or depression. The early results show substantial improvements in mental health, which tend to have positive effects on physical health nearly across the board.

Expansion of the SNAP program

Between 40-50% of all retired seniors are estimated to suffer from some form of malnourishment. While malnourishment can be caused by a lack of nutrients, it is most often caused by a lack of consumption. Millions of seniors can barely afford food, and the food that they can afford is often severely lacking in vitamins and nutrients. Picture a college students’ diet, with a senior’s immune system, and you can imagine why malnourishment is such a massive health issue for seniors.

The SNAP program was expanded in 2019 to include a more significant percentage of a growing senior population, providing millions with proper dietary options. However, it has been an uphill battle informing as many seniors as possible of the benefits available to them. There was very little press surrounding the expansion of the program, and adoption has been limited, even though it is a godsend. Another challenge that has proven difficult to navigate is pride. Most individuals on social security at this point are Baby Boomers, and selling any form of government assistance to them is extremely touchy. Regardless, OAM 2019 focused heavily on spreading this information, and hopefully by this time next year, the discussion will be centered around how effective these adoption campaigns have been.

National Anti-Aging Movement

There is a national movement to remove language related to anti-aging from products and general medical terminology that has taken flight this year. AARP officially announced that they would no longer advertise anti-aging products or run any articles related to the subject. Citing the term as something that stigmatizes the completely natural and healthy aging process. There is no need to be “anti-aging” since aging itself isn’t a bad thing at all.

The language has shifted towards aging with happiness, or grace. Instead of continually saturating seniors with all of the ways they can prevent something inevitable, the focus is on owning seniority. It is an excellent message, and based on the trends being established this year, it will likely only continue to grow as more large senior brands adopt it.

Preventable Issues Drive

Seniors practicing preventative care is a subject every single May, and every other month of the year. There are so many health issues that can be avoided completely by regular visits to your doctor and a healthy diet. AARP and thousands of doctors went on record this year stating that the single most important aspect of aging well is preventative care.

The most relevant issue seniors can avoid almost entirely, barring genetic predisposition, is heart disease. Heart disease is by a large margin the leading cause of death in Americans, specifically those that are seniors or middle-aged. There are medications that can help minimize risk once it is diagnosed, but it is better to just avoid the diagnosis entirely. Other issues include diabetes, glaucoma, Alzheimer’s & Dementia, and arthritis. All avoidable or at the very least minimizable with preventative care.

The drive for exposure this year has included the previously mentioned doctors’ campaign. Nearly every long-term care location or senior healthcare provider has also bought in. In some cases, with flyers in their waiting rooms, in others with full-on exposure campaigns that work with seniors interactively to get them moving.

Changing Senior Landscapes

Every year for Older Americans Month, the state of senior housing and accommodations is a primary focus. This year specific mention of the health benefits of maintaining independence well into your golden years was made.

There are several suggested ways to make sure you can age at home, or at the very least on your terms. Most of them root in maintaining or improving health, since at the end of the day being able to administer self-care is the primary barometer for independence. This has been the case every year since OAM started, physical health leads to independence, which maintains mental health, which facilitates healthy and vibrant aging.

There has been a slow, but steady shift in the landscape of senior housing that is beginning to reach a fever pitch, however. 2019 was a year of focus on how to maintain independence even with health issues that would typically force seniors into long-term care communities or nursing homes. Historically senior care took the “shotgun” approach towards long-term living. If a single health issue prevented independence, even if it required 30 minutes a day to address, a senior home was typically the answer. This led to a complete lack of independence and often culminated in the spiral so often associated with poor nursing home care.

A more precise method of care is growing increasingly popular now, at-home care. Not every senior requires round-the-clock medical attention and on-call medical staff; most don’t as a matter of fact. If you can handle most of your activities of daily living but have trouble bathing, for example, there is no reason you should have to move into a nursing home. You can age in place, and all it requires is a 30-minute daily visit from an at-home care professional. To put it into a term, the landscape for senior care in 2019 is shifting towards personally tailored care.

If you or a loved one are interested in a consultation to see which in-home care services would be right for your loved one, we can help. We refer qualified and compassionate care providers who can help with many different services to help prepare your loved one for the future and keep them home. For more information about our services and coverage area, contact us to speak with a Client Care Liaison.

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The post A Look Back at Older Americans Month 2019 appeared first on AIHC.

Knowing about Aid & Attendance is the first step. As many as 25% of all U.S. seniors are veterans (and their surviving spouses) who might qualify for Aid & Attendance, but fewer than 500,000 veterans were actually receiving Aid & Attendance at the end of 2017. Are your parents missing out?

Navigating the Aid & Attendance Application Process

The next step is deciding whether or not to apply to the program. Here are some things you should know before applying:

1. Total number of wartime veterans in the US as of September 2018: 15,180,741
2. Average age of a US veteran: 64 years old
3. Estimated number of seniors in the US who could be eligible for Aid & Attendance: 1 in 4 seniors
4. Estimated number of eligible seniors in the US who have claimed their Aid & Attendance benefits: 1 in 7 seniors
5. Average time is takes to be approved for Aid & Attendance: 9 months
6. Amount of money that can be awarded from Aid & Attendance:
   1. Up to $1,830 per month (Aid & Attendance + basic pension for a single veteran)
   2. Up to $2,170 per month (Aid & Attendance + basic pension for a veteran and spouse)

The application process requires many forms to fill out, as well as a long list of required documents to submit, including:

• A certified copy of a veteran’s marriage certificate
• A letter from a veteran’s doctor explaining the type of daily care he or she needs
• A veteran’s original discharge papers
• Proof of all of a veteran’s assets and income

Do you think you or someone you know might qualify for the Aid & Attendance program? The application process can be complicated, but we can help you navigate the application process. Contact us to speak with a Client Care Liaison directly.

What the Aid & Attendance Benefit for Veterans Provides

A qualified veteran or their surviving spouse who is 65 or older can get Aid & Attendance to help pay for long term care in a facility or at home. Recipients can also use their benefit to pay an adult child who’s acting as their caregiver, but not a caregiving spouse.

Eligibility factors include:

• A medically documented need for daily help
• A monthly income and assets below the limits set by the VA
• An honorable discharge
• Service during wartime

It is important to note that the VA also pays retroactive benefits once approved. When the VA approves you or your parent’s application, they will send a lump sum that covers the time from the day you filed the application until the day it was approved. Then you or your parent parent receives their monthly payments going forward.

Resources to Apply for Veterans Aid & Attendance

We can help you learn more about the veterans Aid & Attendance benefit and to help you apply. Contact us directly and ask to speak to a Client Care Liaison about veterans benefits!

Other helpful resources include:

• The American Legion
• The Veterans Benefits Administration
• The Veterans of Foreign Wars
• VA-accredited claims specialists and attorneys (be sure to check the Better Business Bureau, references and reviews before you sign any financial agreement)
• Your state’s Department of Veterans Affairs

This Veterans Day, take a few minutes to see if your parents may be eligible for Aid & Attendance and how you can help them claim a benefit they’ve earned.

_________

Source: www.aplaceformom.com/blog/valuable-benefit-for-veterans/

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What are activities of daily living, and what can we do to make sure these daily tasks that serve as early warning signs don't get overlooked?

What are ADLs and IADLs?

Activities of Daily Living (ADLs) and Instrumental Activities of Daily Living (IADLs) are the technical terms for the vital daily tasks and activities that we need to complete on a daily or weekly basis to live a healthy and fulfilled life. A healthy and independent adult should be able to complete the full range of activities in both of these categories. Once limitations begin to appear, and ADLs or IADLs begin to be neglected, long-term care becomes a viable option for providing help to complete the tasks.

Activities of Daily Living are the six essential skills that are needed to manage basic physical needs. These six essential skills include:

1. Bathing: Maintaining good bathing and personal hygiene habits ensures that individuals feel relaxed, refreshed, healthy, and positive about their appearance. Bathing and personal hygiene are a vital part of a daily routine, and are the first activity that should be looked at when assessing if a loved one is capable of providing care for themselves. If their hygiene or bathing habits begin to be neglected, an in-home care providers can assist with getting in and out of the shower or tub, help with physically bathing, washing, cleaning, toweling, and preparing to leave the bathroom.
2. Toileting: Being able to use the bathroom independently is obviously an important daily task, one that will show if an individual is capable of living independently. Bathrooms can be dangerous and difficult to navigate as we begin to age, so if your loved one begins to be nervous to go to the bathroom alone, has to go extremely frequently, or has difficulty physically getting on and off the toilet, an in-home caregiver might be the best choice to assist them.
3. Continence: To maintain day-to-day normalcy and independence an individual should be able to control their bowels and bladder fully. This can often be an embarrassing and difficult subject to speak about, but it is important that it is addressed. The underlying causes of incontinence can sometimes be reversed if the discussion is broached honestly and early.
4. Feeding Yourself: This is mostly an issue for those suffering from diseases like Alzheimer’s and Dementia, where seniors can have trouble remembering to eat at all. Severe issues can also cause severe shaking or degraded hand-eye coordination that self-feeding can become nearly impossible. In these cases, an in-home care professional can assist with feeding an individual in need of care. Even if an individual doesn't require hands-on feeding, an in-home caregiver can also be helpful for preparing healthy, nutritious, and regular meals.
5. Dressing: Dressing isn’t limited to just getting clothes on, it also means dressing appropriately for day-to-day activities. Independent seniors should be able to differentiate between what should be worn for different weather patterns, as it could be dangerous to go outside under or over-dressed. Adults should be able to handle fasteners, buttons, etc on their clothes without assistance to consider this skill as a pass.
6. Mobility: Functional senior mobility doesn’t necessarily mean running a marathon or going outside to shoot the basketball around. You should be able to get yourself out of bed in the morning and start your day without any major physical setbacks. Essentially, as long as you can move around your house without direct assistance, this skill is a pass overall.

Instrumental Activities of Daily Living (IADLs) are more complex actions that involve important parts of day-to-day living. Examples of a few major ones include:

• Meal Preparation: Even before physically cooking a meal, the knowledge of how it is done and recalling recipes come into play. For seniors suffering from early stage Alzheimer’s or Dementia, this hurdle alone may be too much to get over. Physically, you must be able to make measurements, handle hot stoves, reach into cabinets, and lift potentially heavy ingredient bags.  You must also be mentally healthy enough to remember recipes and plan out nutritious and healthy meals for the day or week. What this skill boils down to is whether or not you can cook healthy food consistently enough to maintain a balanced diet.
• Housekeeping: Senior homes that are neglected for long periods of time quickly become extremely dangerous to live in. Eventually, simply walking around can become a serious hazard if you aren’t capable of simple housekeeping and cleanup. Hundreds of thousands of seniors are injured annually in falls, and illnesses that result from those falls can often be fatal. If you are unable to maintain a well-kept home, an in-home care professional to help with cleaning and maintaining the home is the best course of action.
• Transportation: Both mobility and challenges with short-term memory can make transportation a challenge for seniors. Being able to get around outside the home to buy groceries, go to the doctor, and visit family and friends are all extremely important factors in a senior’s continuing health, and they all depend on having access to safe transportation. In-home care professionals can assist you with traveling in your car, securing your trip, and making sure you get to your destination and back home safely.

Why are ADLs and IADLs Relevant?

Most doctors agree that if a person declines enough (either cognitively or physically) that they can no longer perform an ADL or IADL on their own, this should be taken seriously. It is very common that once one skill is failed the others will soon follow, unless the cause of the issue is addressed quickly. ADLs represent the first warnings of potentially serious issues, and should never be ignored.

It is important to check in with your aging loved ones regularly to assess their condition. If you begin to notice any of the vital tasks (IADLs and ADLs) that are starting to be neglected, it is time to have a discussion about in-home care. Securing in-home care from a trusted provider is the best way to ensure that the quality of life or safety of your loved one does not decline in conjunction with the loss of these day-to-day skills.

American In-Home Care and our sister companies Advocate, Douglas, and Whitsyms always refer qualified,  and screened care providers for home health care in Tampa and surrounding areas that are compassionate and ready to help assist with activities of daily living. Contact us at 1-844-505-0004 to schedule your free in-home consultation to discuss which care options are right for you and your family.

The post Activities of Daily Living & Their Importance to Senior Health appeared first on AIHC.

1. Is the company you are considering properly licensed or accredited by an independent third party for in-home care?

While many companies will claim they are licensed, they may mean they have only a business license, and are not properly licensed with the state if required, or accredited by a nationally recognized independent review for in-home and personal care services. Licensing also must be appropriate to the type of care, some companies can only provide companion care, and not assistance with the Activities of Daily Living which is a different license.

2. How long has the company been in business and what areas do they serve?

In order to determine the stability of a company, their relative longevity, experience and size may be of help. In addition if they are part of a franchise, while the franchisor may have a long history that does not mean the local owner has that same experience, or stability. A company operating in a larger geographic area will likely have a larger pool of qualified caregivers to call upon if an emergency arises. Its always important to confirm who will manage your relationship, how back up is handled, and their availability for support 24/7.

3. What process is used to screen and verify the caregivers, including reviewing their credentials, qualifications, certifications, and references?

Have the company representative explain how caregivers’ credentials are verified, and if they undergo testing, screening and interviewing. Determine what levels of screening are used, state, local, and federal, and how this information is kept current.

4. Do both the company and the caregiver have insurance?

You should ask to inspect the company’s Professional and General Liability insurance to provide peace of mind that you are protected, and not just the company should anything go wrong. If you have concerns about someone being in your home or operating your vehicle with permission, you may want to ask your insurance agent about an umbrella liability policy. Check to be sure that caregivers are bonded for theft, and protect items that cannot be replaced.

5. Has a consultation and home visit been conducted prior to beginning service or recommending caregivers?

Making arrangements for care in your home is very different than being relocated to a facility where everything is in place already. When you choose in-home care, the client and their family are an essential part of determining, with a professional client care advisor, what services are right for the situation. The consultation and assessment may include prudent suggestions for modifying the home environment for improved safety.

6. Does the contract lock you into a long term or include penalties for discontinuing service?

Obtain clarity about the contract commitments you are making including the time period, any minimum, and what your cancellation options are. You should not expect any penalty for cancelling because of dissatisfaction or changing needs. Be aware that accepting a locked in low rate may limit your flexibility to cancel, or impose penalties. Find a company with a reputation for treating its clients fairly.

7. Is there a guarantee of caregiver match with no questions asked?

You should have a choice and the approval of the caregiver that will provide the personal care for you or a loved one. The caregiver is an invited guest into one’s home. If there is ever a problem for any reason with a caregiver, does the company have the flexibility to find you a different caregiver. Is their first responsibility to you, your needs, and your schedule. The decisions as to who provides your care and what type should be yours.

8. What provisions have been made to handle emergencies?

Generally, when it comes to in-home care the worst issues arise at night, on weekends or holidays. It is essential that the company you choose operate with a 24/7 mentality, including a defined process for managing problems outside of normal business hours. You should understand who is responsible for your relationship and expect them to respond within a few minutes of your call, and often it is best to test the system.

9. Have you obtained professional and client references?

While it may be difficult to conduct reference checks with clients due to privacy rules, it is relatively easy to search for information about the company on the internet, determine if they belong to industry associations that govern personal care, or see if they are registered with consumer groups like the Better Business Bureau. Take the time to weed out the bad candidates.

10. What are the rates for service?

Often this is the first question that is asked, but it probably should be the last. Before a company can make a quote, they should ask appropriate questions, and you should be comfortable that they can provide the services needed. Quoting prices without doing the background work can be a warning sign that you are being treated with a one size fits all approach, when each in-home care engagement is unique and personal. Companies may quote an hourly or weekly rate, but generally the more hours required per week will dictate a lower rate, subject to care needs. Live-in companions may offer an affordable alternative for the right situation. It is important to get a clear understanding of billing practices, payment options, and billing cycles.

American In-Home Care and our sister companies fit all of these criteria and are always honest and straightforward about our policies and our relationship with our clients. If you have any questions about our process, or about in-home care, please do not hesitate to contact your local Client Care Liaison who is standing by 24/7 to help.

The post 10 Questions to Ask When Searching for In-Home Care appeared first on AIHC.

This estate plan checklist, will help you ensure that you have a sound estate plan. However, you should also look into getting an attorney who specializes in elder law, and a financial analyst to help ensure that your plan and your assets are protected and being managed properly. The National Academy of Elder Law Attorneys is a great resource to find an attorney in your area that meets your needs.

1. Will 

A will provides instructions for distributing your assets to your family and other beneficiaries when you pass. Your will also appoints someone to be the executor to pay final expenses, taxes, etc., and then distribute the remaining assets. If you have minor children, a will is also a way to designate a guardian for them. A will doesn’t take effect until you die and it cannot provide for management of your assets if you become incapacitated. That’s why it is necessary to have other estate planning documents in place to utilize if you should be unable to act for any reason.

2. Durable power of attorney for business and health care decisions

A power of attorney is a legal document in which you name another person to act on your behalf. You can give this person/agent broad or limited powers. You should choose this person carefully because he or she will be able to sell, invest and spend or distribute your assets. A durable power of attorney continues to apply if you are incapacitated and terminates only upon your death, whereas a traditional power of attorney terminates upon your disability or death.

3. Health care power of attorney and living will

A health-care power of attorney authorizes a person you designate to make medical decisions for you in the event you are unable to do so yourself. This document, coupled with a living will are necessary to avoid family conflicts and even court intervention should you become unable to make your own health care decisions. A living will dictates your wishes regarding the use of life-sustaining treatments and other end-of-life medical care in the event of a terminal illness or accident. It states what you do and do not want done in terms of treatment, but doesn’t give any individual the legal authority to speak for you. That is why it is usually coupled with a health care power of attorney.

4. Revocable living trust

You’ll need one of these to transfer, manage and distribute assets while you are alive and to avoid probate after your death. There are many different kinds of trusts, which are usually put in place to minimize estate taxes. Each trust has benefits and should be discussed with your attorney. There are marital trusts, charitable trusts, generation-skipping trusts, bypass trusts, testamentary trusts, qualified terminable interest property trusts, and more. A revocable living trust is often used in estate plans. By transferring assets into a revocable living trust, you can manage your financial affairs during your lifetime and provide management if you become incapacitated. A revocable living trust lets trust assets avoid probate, keeps personal information private and can designate the disposition of trust assets to future generations.

5. List of Assets

A list of assets will serve as a guide for those managing your estate or your affairs if you are incapacitated. Use this form from Retired Brains to list all your assets and where they are located.

6. Do not Resuscitate Order (DNR)

A DNR medical order written by a doctor instructs any healthcare providers to not use cardiopulmonary resuscitation (CPR) if a patient stops breathing or heart stops beating.  Some feel this is an important document, while others do not. If it is important to you, include this document in your plan.

7. Legacy Letter

A legacy letter is an ethical will designed to pass “ethical values” from one generation to the next. Traditional wills involve what you want your loved ones to have. Ethical wills involve what you want your loved ones to know.

8. Discussion with attorney about who inherits what assets

Decide where you want your assets to go and discuss this specifically with your attorney.

9. Selection of someone to make medical decisions if necessary

Decide whom you want to make health decisions on your behalf if you are incapacitated.

10. Instructions on how you want your assets distributed

Have this discussion with your attorney and/or spouse or appropriate family member, trustee, etc.

11. Guardian decision

If you have minor children, you may wish to name a guardian to take care of them in the event of your passing.

12. Estate plan tax review

Meet with your accountant and attorney to discuss the tax consequences of your estate plan.

13. Instructions on how to handle digital legacy

Check your digital footprints. Most people aren’t aware of the full extent of their presence online.  List any personal sites and review the steps necessary to protect online information after your death or if you are no longer able to act on your own behalf.

14. Letters to your family

Consider writing a letter to your spouse or family regarding your funerary wishes should you need to be removed from life support or pass unexpectedly. This letter will make their decisions a great deal easier if you reiterate that this is your wish with a personal, not formal, request.

__________________________________________________________________________________________________________

Source: Koff, Art. "Use This 14 Point Checklist To Review Your Estate Plan." Next Avenue. 31 July 2015. <http://www.nextavenue.org/use-this-14-point-checklist-to-review-your-estate-plan/>

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Discussing finances can be difficult, especially in relation to aging and mortality, but it’s an important discussion to have. There are a dizzying number of options for assistance, some of them being more worth pursuing than others. However, finding information about these options can be difficult.

Most educational materials give quick nods to things like Reverse Mortgages, Life Settlements, Government Funding, Insurance Options, Retirement Funding, etc. But the education ends at that “quick nod,” and readers often wind up even more confused than they were at the start. That's why we have created this series of articles, to educate older adults and their families on their financial options for long term care, with in-depth views of their individual options.

What is a Life Settlement?

A Life Settlement at its core is a method of liquidating a fixed asset - aka your life insurance policy. The industry standard is that a settlement offer is always higher than the surrender value of a policy, but lower than the death benefit. When a Life Settlement is finalized and an offer is accepted, the client signs over ownership of the policy in exchange for cash.

Life Settlement Value

The value of a Life Settlement offer is based on several variables including policy information, underwriting, and what type of Life Settlement company you choose to work with.

Policy Information

Policy Information includes the overall value of your policy, how much your current premiums are, policy loan amounts (if any), and policy cash value. Since the Life Settlement company takes over ownership of your policy, it is important for them to be aware of all of these variables beforehand, and they will play heavily into your offer. A policy with premiums that are a small percentage of the overall death benefit will always price better than a policy that has extremely high premiums for example.

Underwriting

Life Settlement companies use the same actuarial tables and underwriters that most major life insurance companies utilize. Life Settlement offers are heavily reliant on this underwriting, as it lays out the length of time that premiums are going to be paid as an average. This underwriting is based on medical records, historical averages, and the client's own account of their lifestyle.

Type of Company

The Life Settlement industry is comprised of several layers - at the bottom of the industry are lead generation companies, followed by Brokers, and then Providers. Lead generation companies forward clients along to actual Life Settlement companies, but do not actually involve themselves in the Life Settlement process. They are essentially Life Settlement advertisers that profit from a portion of a client’s settlement.

Brokers are further up the ladder, but they also serve as a “middleman” to the companies that actually purchase the policies.  The amount of your settlement that a broker keeps varies, but it is often above 10-20%.

Providers act as direct connections to the capital within the Life Settlement industry, making them as close to the top of the ladder a client can get. A Life Settlement done with a provider is often called a “Direct” settlement. Providers typically profit from working with funders rather than taking a portion of their client’s Settlement offer.

However, no matter what type of company you decide to work with, make sure their niche is in the market, and how much of your offer they keep is clearly defined during the first call. If for whatever reason the representative is dodgy or unclear, end the call. Lack of transparency has no place in a major financial transaction.

Who Should Consider a Life Settlement?

The nearly industry wide rule-of-thumb when it comes to a quickly identifying potential for a Settlement is that healthy individuals should be at least 72 years of age. If you have minor health issues you should be at least 60 years of age, and if your health issues are major or terminal than you will likely qualify based on underwriting despite your age.

Life Settlements are a viable financial option in a number of different scenarios for seniors, but some of the most common include:

• Increasing cash flow post-retirement.
• Paying for long-term care including housing, medical bills, and various day-to-day needs.
• Getting rid of premiums that are no longer affordable while still getting value from your policy.
• A family business is sold or the owner retires and the key person insurance is no longer needed.
• An estate plan no longer needs the life insurance policy as an asset.

Industry Warnings

The Life Settlement industry has earned a leery reputation, primarily on the back of several companies that used illegal financial techniques to increase profits. Prior to regulations being put in place, unscrupulous companies would often pay the sick and elderly to take out policies with the intent to sell. The practice was quickly made illegal. Still, individuals have attempted it in recent history and been punished accordingly. Be on the lookout for this tactic if you begin looking into securing a Life Settlement for your own policy.

The unnecessary layers involved in some cases can cause potential settlement offers to be significantly smaller than they should be. It isn’t uncommon for an individual policy to see 3-5 companies before it reaches a provider who ultimately makes the decision to purchase. Always ask any company you work with to make it very clear if what their role is, and ensure that your case is being handled directly instead of through a lead generation company.

Tip: Search “[Company Name] Lawsuit" when you are considering a company to work with for your Life Settlement.

Conclusions

If you would have asked me a 10 years ago, I wouldn’t have brought up a Life Settlement as viable financial option. The industry was too unregulated, and elder financial abuse ran far too rampant. Licensing was rare or non-existent, and offers were often unfair. In 2017 however, I would absolutely suggest looking into a Life Settlement if you are of retirement age or suffering from a disease or illness. There is extensive industry oversight from state and federal lawmakers, licensing is mandatory in most states, and offers are the strongest they have ever been. Just ensure that any Life Settlement is done through a well vetted and reputable organization. As always, if you ever feel even remotely uncomfortable, step away.

If you or your loved one could use help discussing or planning financial options, we can help. American In-Home Care always refers qualified, screened, care providers that are compassionate and ready to help with a variety of services, and our Client Care Liaisons are standing by to answer your questions. Contact us at 1-844-505-0004 to schedule your free in-home consultation to discuss which care options are right for you and your family.

The post Paying for Long Term Care: Life Settlement appeared first on AIHC.

Most retirees save tirelessly for their entire careers to set up a nest egg large enough to enjoy their golden years. They plan out their retirement finances, make conservative projections, and plan for both expected and emergency expenses. But what happens if they begin to lose the presence of mind to handle their finances and their well laid out retirement plan?

Securing your retirement finances early on is extremely important, because if you are not prepared when you are older, it could possibly be too late - leading to elder financial abuse, not being able to retire, or finances being tied up entirely, and all the hard work that was put into retirement during your working years evaporates. Three simple steps can be taken early on in your retirement to prevent most of the issues that could crop up if your mental capacity starts to fade as you age.

1. Choose a Trusted Representative

Whether it is a family member, a close friend, or a professional financial advisor, choosing a person to act with some authority when it comes to your finances is important. The goal isn’t to give up your independence or control of your finances, but to have someone ready to go to bat for you in the case of a serious emergency. You should sit down with this person early on and discuss exactly what you want to be done if you lose the ability to manage your finances. A great candidate should be transparent with both you, and your family, so it’s clear that you are never being taken advantage of. They should also be privy to everything needed to represent you effectively.

2. Don’t Hide Important Documents

Your important documents need to be immediately accessible to at least one trusted confidant. Keeping important things like bank statements, wills, insurance policies, investment records, social security information, etc.… in a safe place is a great idea, but they have to be available in case of an emergency. It isn’t at all uncommon for families to lose access to important financial documents entirely because they are too well hidden or protected, leaving them high and dry during a crisis.

3. Plan for the Future

Creating important documents like a will, estate plan, or assigning Power of Attorney only becomes more difficult as you age. Most people don’t want to face down their mortality and divvy up their assets until they are already sick, or at an advanced age. But waiting too long can lead to major decisions having to be made under duress, or your assets being distributed unlawfully when you pass away.

Even with Power of Attorney in place, many financial institutions will not allow access to an account without specific paperwork being filed. We wouldn’t recommend sharing any accounts unless you know you can explicitly trust the person being given access. Before signing paperwork, you should consult with family members or a financial professional. Inaccessible accounts can become roadblocks to receiving long-term care for those suffering from Alzheimer’s or Dementia, so you should consider your options early on.

Plan Early = Enjoy Retirement

What it really boils down to is over-planning so you can under-worry. Establishing plans for the future while you are still sharp and your finances are fresh on your mind will allow you to enjoy your retirement without the constant specter of your financial future hanging over you. You know your family will be well taken care of no matter what happens, and that your hard-earned retirement won’t be squandered away, no matter what your mental state is as you age.

American In-Home Care refers qualified Nurses, Home Health Aides, Certified Nursing Assistants, and Companions that specialize in Alzheimer's and Dementia Care and many other services, and can help you and your loved one. Contact us today at 1-844-505-0004 for a free consultation to determine what care options are best for your family.

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According to a study from the AARP, 82% of seniors prefer to stay in their homes as they age, with the remaining 9% wishing to relocate to assisted living, and 4% preferring to move in with a relative. Although wanting to age in place is the clear preference among seniors, 2 in 10 people over the age of 70 recognize that they need assistance with tasks of daily living. The benefits of in-home care are that it bridges the gap between seniors’ preference for the comforts of home, with their need for a helping hand or basic medical care.

1. One-on-one care

Quality, one-on-one care from certified home care providers is the backbone of aging in place. Home health care providers know from experience that no two seniors are alike, and they can tailor their caregiving to suit the needs of every individual. Whether it’s something as easy as knowing how to prepare a favorite dish at the end of a long day or as nuanced as patiently comforting sundowning seniors with dementia, one-on-one care always puts seniors’ needs and comforts first.

2. Fewer visits to the doctor

According to a study conducted by Home Instead Senior Care, seniors who receive in-home care required 25% percent fewer in-office doctor visits over the course of a year as compared to seniors who do not receive in-home care. This finding holds true for patients with conditions that are “worse than [those of] others of the same age,” including those with arthritis and heart disease. For patients with dementia, the results are particularly pronounced: Dementia patients with in-home care visited the doctor an average of 10.2 times per year, compared to 19.2 annual visits for those without.

A second study shows that home health care professionals “may be effective in preventing unplanned hospital admissions with targeted interventions,” making these results extend past doctors visits to more serious health situations as well. These results suggest a higher quality of life and fewer medical bills for seniors who choose to age in place.

3. Faster recovery

A 2005 and 2006 study by the same lead author found that adults with acute conditions who were treated with hospital-at-home care had a shorter recovery time, fewer complications, and ended up with a lighter medical bill. Hospital-at-home care was also associated with greater satisfaction for both patients and their family members.

4. Peace of mind

For family members struggling to decide the best course of action for their senior loved one, in-home care provides peace of mind. Knowing that your parents or loved one is being cared for in a safe, comfortable environment alleviates the stress of searching for alternatives. In-home care also makes it easy for family members to communicate directly with caregivers and see their family members more often, without the restriction of visitor hours, making it easier to maintain connections with loved ones as they age.

If your loved one needs help performing daily tasks or needs basic medical assistance, consider bringing a qualified care provider into your home. American In-Home Care always refers qualified, screened, care providers that are compassionate and ready to help. Contact us at 1-844-505-0004 to schedule your free in-home consultation to discuss which care options are right for you and your family.

The post Why You Should Age in Place: 4 Benefits of In-Home Care appeared first on AIHC.

According to the 2012 U.S. Census, there are over 12.4 million veterans aged 65 or older living in the country today who served in conflicts around the world, from World War II through the Persian Gulf War. Even heroes age though, and even the strongest need a helping hand. In honor of their brave service, many veterans are eligible for monetary assistance for in-home care as they age, lightening the financial hardship of aging in place.

The Aid and Attendance program is an additional monetary payment available to veterans who are eligible for or who are already receiving a VA Pension benefit. In addition to pension eligibility, veterans must meet one of the following conditions to qualify:

• They require help performing daily functions like bathing, eating, or dressing
• They are bedridden
• They are a patient in a nursing home
• Their eyesight is limited to a corrected 5/200 visual acuity or less in both eyes, or concentric contraction of the visual field to 5 degrees or less

These benefits are available to service members, their spouses, or a surviving spouse, and can pay up to $2,127 a month for a couple, $1,794 for a single veteran, and $1,153 for a single surviving spouse.

Through American In-Home Care, you or your the veteran you love can apply an Aid and Attendance benefit toward any regular services: companion care, personal care, live-in care, Alzheimer’s and dementia care, or skilled nurse care, each of which contributes toward keeping your loved one living comfortably in their home.

Companion Care

Companion care is geared for seniors with light care taking needs — just someone to provide companionship and help with daily tasks like meal preparation, errands, and transportation.

Personal Care

Personal care provides hands-on assistance with tasks like bathing, dressing, and eating.

Live-In Care

Live-In Care providers perform a full array of at-home services, including assistance getting in and out of bed, catheter care, and personal hygiene assistance.

Alzheimer’s and Dementia Care

Because Alzheimer’s and Dementia affect every individual differently, American-In Home Care can work with you to find an agent best suited to your loved one’s needs, from regular assistance to respite care, which provides a break for family members acting as care takers.

Skilled Nursing

More serious health evaluations and ongoing care needs can be addressed by Registered Nurses (RNs) or Licensed Practical Nurses (LPNs), who can perform any reguarlyly offered service in addition to roles that necessitate more training, like regularly monitoring health conditions and helping with Infusion Therapy (IVs).

If you are or know of a veteran who could find it easier to live comfortably in their own home through any of these services, contact American In-Home Care to speak with an agent who is knowledge about the Aid and Attendance Program. An agent can help you determine if you qualify for the benefit, work with Veteran-Care to assist you throughout the entire application process, and refer a qualified home care agent best suited to your needs. American In-Home Care always refers qualified, screened, care providers that are compassionate and ready to help. Contact us at 1-844-505-0004 to schedule your free in-home consultation to discuss which care options are right for you and your family.

The post Paying for In-Home Care: Veteran's Aid and Attendance Program appeared first on AIHC.

Elder financial abuse against those aged 65 or older constitutes 35 percent of all financial exploitation in the United States every year. Financial fraud can take many different forms - from blatant stealing of funds, to investments and phone scams, to identity theft - and for many seniors, a lack of knowledge about this exploitation and a lack of independent care makes them easy victims.

The following warning signs could indicate that something fishy is going on with your aging loved one’s finances.

1. Sudden changes in financial accounts - without your senior’s knowledge

The biggest and most obvious red flag signifying senior financial abuse is a sudden change in a financial account without your senior’s knowledge. This can take many forms, from large withdrawals that they don’t remember making to forged signatures that transfer account ownership.

Differentiating between the forgetfulness that accompanies dementia and the forgetfulness that could be putting your senior in danger isn’t always easy, but when in doubt, it’s better to assume caution. Sit down with your senior and examine finances together. If signatures look off or there have been uncharacteristic financial behaviors, take steps to secure your loved one’s assets. If it seems possible that it was a one-time strange occurrence, continue to regularly monitor their finances in case something more is amiss.

2. Questionable relationships

One of the most difficult aspects of senior financial fraud is facing the fact that 9 out of 10 cases are perpetrated by someone the senior knows and trusts, be it a family member, friend, long-time business partner, etc., and they typically fit a certain profile.

According to a report in the New England Journal of Medicine, "Perpetrators are most likely to be adult children or spouses, and they are more likely to be male, to have a history of past or current substance abuse, to have mental or physical health problems, to have a history of trouble with the police, to be socially isolated, to be unemployed or have financial problems, and to be experiencing major stress.”

Keep this in mind when thinking about the relationships in your loved one’s life. Although it is not easy to confront a longtime relation, it could be the key to saving your senior’s financial security.

3. Changes in investments

Most seniors use their investments to provide safe, secure income. However, brokers can change this preference to “trading,” without their clients’ knowledge, putting regular income at risk with the benefit of greater personal commission. Check in with your loved ones about their investments and ask if they’ve been promised unlikely financial gains from their stock portfolio, and request to see their investments and look for frequent or nonsensical changes. Also check to see how often their account statements have been coming in; irregular statements could be a sign of unscrupulous investors.

If you or your loved one are concerned about financial safety and would like guidance about what steps to take, our Client Care Liaisons can help. Contact us at 1-844-505-0004 to schedule your free in-home consultation and to talk to your Client Care Liaison for more information.

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