Recession and Dementia: Reasons to Plan

Posted on February 27, 2020February 4, 2021

Financial Insecurity

As of December 2019, market volatility is rocking the world and it appears that this may be the norm going into 2020 and many experts fear a recession is imminent. Whether a family member is already in long term care (LTC) or merely concerned LTC is on the horizon, a recession can severely impact financial resources and a family’s ability to pay for help. Planning for LTC now can protect families and their precious assets regardless of the financial weather.

Two Available Benefits

1. Military veterans may be entitled to Aid and Attendance which can provide over $2,000.00 a month of additional income to help pay for LTC.

2. For all others, Medicaid may be available to pay for LTC.

Medicaid Rumors

There are many rumors about Oregon Medicaid. While some are seeded in fact, they rarely tell the whole story. For example, while a Medicaid recipient may not have more than $2,000.00 in available resources, with proper planning their healthy spouse can keep significantly more. Also, did you know that even if you have more income than Medicaid’s maximum you may still be able to qualify? And, your home is an exempt asset if you or your spouse continue to live in the home.

Plan Now!

Whether you are in care now or care is still years down the road, the time to plan is now. Only an elder law attorney can assist families when planning for LTC. And whether a serious medical condition exists or not, those that seek help right away are significantly better off than those that do nothing.

Planning for LTC takes many forms. However, the goal is always the same, to receive the best care possible without jeopardizing our loved ones. Such plans will include documents you may think you already have like a power of attorney or a trust. However, these documents can be deceptive. Estate plans that are not prepared by an elder law attorney, are likely inadequate to protect a family. Unfortunately, many families that find themselves rocked by healthcare costs are unable to prevent impoverishment because their estate planning documents are insufficient.

Planning for the Unknown

Although market gyrations will continue, families that have a plan in place are less likely to be affected by a market downturn and will have greater peace of mind regardless of the financial weather.

Article Provided by:
Michael J. Rose, Attorney Rose Elder Law, LLC
971-865-3171
www.RoseElderLaw.org

Imagine the Right Caregiver

Posted on February 27, 2020August 17, 2020

For most Seniors, remaining independent in their own home on their terms is at the top of the list. However, the crippling effects of aging rob seniors of their desire to complete their life’s story with dignity and quality of life. The good news is that seniors can live their best life possible to the very end at home.

At some point, it will be necessary to acquire assistance from a caregiver. Bringing a caregiver into your home can be a big transition. That is why it is imperative to consider the following when choosing the right caregiver for your unique needs.

To start, we highly recommend utilizing an In-Home Care Agency when selecting your personal caregiver. In-Home Care Agencies are required to be licensed and accountable to the state. Agency Caregivers are employees, not independent contractors.

An Agency’s Responsibilities Include:

–Hiring/Firing/Training

–Paying Social Security Tax

– Paying Medicare Tax

– Raying Pay Roll Tax

– Workers compensation

– Liability Insurance

– Background Checks

– Reference Checks

– Shift Scheduling

– Vacation Schedules

– Scheduling Shift Call-Offs

Caregiver Qualities Matter

Caregiving is the most intimate job in the world, so insist on making sure your caregiver is a match to your specific needs. A caregiver’s training and skills are only half the equation. The other half are the qualities of that caregiver.

These baseline qualities of an agency caregiver include:

– Relationship oriented and flexible to your needs.

– An agency caregiver should respect all boundaries and be socially sensitive to you and your family.

– Finally, a good caregiver is compassionate and motivated to adapt to your daily routines and always curious about you and your life story.

Choose an agency whose company culture promotes placing a caregiver in your home that is a match to your care and personal needs.

Imagine how it will feel with the RIGHT caregiver!

Article Provided by:
ComForCare Home Care
503-636-0417
www.ComForCare.com/OR/WestLinn

Spreading Light

Posted on February 7, 2020February 4, 2021

“There are two ways of spreading light: to be the candle or the mirror that reflects it.” – Edith Wharton

I have been fortunate to receive praise at times simply for the proximity of excellence. I did not always directly accomplish myself but was part of a group. I try very hard to surround myself with people that are focused, motivated, and kind. It is much easier to be a mirror for that behavior. Of all the things that are in my “job description,” I feel the most important is being the mirror to my team, so they shine.

Happiness

Posted on January 6, 2020February 4, 2021

“If you want to find happiness, find gratitude.”
– Steve Maraboli

We will never ever be happy if we focus on what we want and do not have. We can always find something to be grateful for. This does not mean we are not hurt when someone goes on hospice or fights disease. However, we can choose to be grateful for the opportunity to tell them how much we love and appreciate them before it is too late. Not everyone gets that chance, and we can learn how much more we can manage beyond what we previously believed.

Protect Yourself Against Long-term Care Costs

Posted on December 11, 2019January 14, 2020

If you’re fortunate, you’ll live independently and in good health throughout your retirement years. However, if you ever needed some type of long-term care, such as a stay in a nursing home, would you be financially prepared?

To answer this question, you may want to evaluate two variables: your likelihood of needing long-term care and the cost of such care.

Consider the following:

• Someone turning age 65 today has an almost 70% chance of eventually needing some type of long-term care, according to the U.S. Department of Health and Human Services.
• The average cost for a private room in a nursing home is about $100,000 per year, while a home health aide costs about $50,000 per year, according to Genworth, an insurance company.

Clearly, these numbers are worth thinking about. If you needed several years of long-term care, the expense could seriously erode your savings and investments. And keep in mind that Medicare typically pays only a small percentage of long-term care costs. Therefore, you may want to evaluate the following options for meeting these expenses:

• Self-insure – You could “self-insure” against long-term care expenses by designating some of your investment portfolio for this purpose. However, as the above numbers suggest, you’d likely have to put away a lot of money before you felt you were truly protected. This could be especially difficult, given the need to save and invest for the other expenses associated with retirement.

• Long-term care insurance – When you purchase long-term care insurance you are essentially transferring the risk of paying for long-term care from yourself to an insurance company. Some policies pay long-term care costs for a set number of years, while others cover you for life. You can also choose optional features, such as benefits that increase with inflation. And most long-term care policies have a waiting period between 0 and 90 days, or longer, before benefits kick in. You’ll want to shop around for a policy that offers the combination of features you think best meet your needs. Also, you’ll want an insurer that has demonstrated strength and stability, as measured by independent rating agencies. Here’s one final point to keep in mind: Long-term care premiums get more expensive as you get older, so if you’re interested in this type of coverage, don’t wait too long to compare policies.
• Hybrid policy – A “hybrid” policy, such as life insurance with a long-term care/ chronic illness rider, combines long-term care benefits with those offered by a traditional life insurance policy. So, if you were to buy a hybrid policy and you never needed long-term care, your policy would pay a death benefit to the beneficiary you’ve named. Conversely, if you ever do need long-term care, your policy will pay benefits toward those expenses. And the amount of money available for longterm care can exceed the death benefit significantly. Hybrid policies can vary greatly in several ways, so, again, you’ll need to do some research before choosing appropriate coverage.

Ultimately, you may decide you’re willing to take the chance of never needing any type of long-term care. But if you think that’s a risk you’d rather not take, then explore all your coverage options carefully. There’s no one right answer for everyone – but there’s almost certainly one for you.

Article Provided by:
Karley Beebe, Financial Advisor
425-424-2431
Edward Jones
EdwardJones.com

Teamwork

Posted on October 30, 2019February 4, 2021

“A player who makes a team great is more valuable than a great player. Losing yourself in the group, for the good of the group – that’s teamwork. ” – John Wooden

As our team make up changes with those that move on and new hires- this quote resonates with me. It is always more important (and often more challenging) to find a person that elevates the entire team more than an individual.

Helping Someone with Dementia Feel Safe at Home

Posted on October 2, 2019August 27, 2024

According to Maslow’s hierarchy of needs, safety is the second tier of the pyramid just above the need for food and water. It is defined as “protection from elements, security, order, law, stability, freedom from fear.” When we think of creating a safe environment for our loved ones with Alzheimer’s disease or another form of dementia, the focus tends to be on elements of the physical environment that may be dangerous, but we often overlook the psychological aspects of feeling safe.

A recent study in Neural Plasticity found worrying about safety is a major reason for mental disorders, such as anxiety, phobia, depression and post-traumatic stress disorder (PTSD). The study illustrates how the amygdala, a part of the brain that is responsible for releasing hormones that trigger our emotions of fear and anger, also alerts us to possible dangers and the need to do something about it like fight or run.

Our loved ones with dementia fall into this category, and, with this information in mind, how we approach their care can have an extreme impact on successful outcomes.

Of course, we need to make sure that the environment is free from fall risks by arranging furniture to create open pathways, and by removing loose rugs and tacking loose carpet edges to reduce trip hazards. We also need to make sure there is adequate lighting and the temperature in the environment is comfortable.

However, the most essential element of caring for someone with dementia is to help them to feel safe. Feeling safe may be affected by symptoms of dementia, such as confusion, memory loss and disorientation, limited mobility and coordination, or by changes in the environment.

Someone with dementia may have cognitive impairment and physical limitations, but in most cases, people retain a rich, emotional life. If we can tap into truly knowing that person, we have a wonderful opportunity to gain their trust and really have fun with providing care. Here are some caregiving tips:

Communicate and engage with the person in your care by being fully present.
Leave your fast-paced life filled with all of the things you have to do at the door.
Take some time for yourself to slow down and approach the person you are caring for with a smile.
Tell the person your name and that you are glad to see them.
Make sure your voice has a nice tone and that you modulate your speech, so it has a songlike quality.
Make a lot of eye contact as you smile and greet the person.
Have a conversation with them about something you know they are interested in.
Suggest an activity that is meaningful for them.
Have fun and spend some quality time being there with the person.

Following these guidelines can set a positive tone and help the person feel safe and loved, helping them to live their best life possible.

Article Provided By:
ComForCare Home Care
503-400-6637
www.ComForCare.com

Good, Better, Best

Posted on September 27, 2019September 27, 2019

“Good, better, best. Never let it rest. ‘Til your good is better and your better is best. “– St. Jerome

This quote is printed in the hallway of our office. Two years ago when interviewing Barret, we asked “what do you want us to remember about you after you leave and we meet with other applicants”. He shared this quote and what it means to him and how it is reflected in his work ethic. He continues to live up to the expectation.

The Right Team

Posted on August 7, 2019February 4, 2021

“If work isn’t fun, you’re not playing on the right team.” – Franks Sonnenberg

We spend more awake hours with the people we work with than our own family members. Let’s make sure we treat these relationships with the care and attention deserved. With any relationship, we get out of it what we put into it.